Today’s retailers must be equipped to effectively market to a variety of cultures based on specific customs. However, as customer preferences shift at an extraordinary pace, it is imperative that merchants consistently track, analyze and leverage demographic data to ensure content and offers are relevant.
To help retailers better connect with multicultural consumers, Geoscape, a business intelligence and analytics solution provider, has upgraded its Geoscape Intelligence System (GIS) offering to include more detailed data points.
GIS is a multicultural marketing intelligence platform designed to provide retailers with granular demographic and consumer spending information. With the latest release, consumer data derives from the following sources:
- American Marketscape DataStream 2013 Series, which provides current year and five-year population projections for multiple geography levels;
- Updated Consumer Spending Dynamix 2013 Series, which estimates household spending potential; and
- New Workday Population, which estimates total and Hispanic population for any geography during working hours.
The most current version of GIS also offers additional data and analysis to provide more detailed intelligence around brick-and-mortar locations, including population counts, consumer segments, traffic and competitive retailers in the area.
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A variety of brands and retailers, such as Advance Auto Parts, Goya Foods, Hallmark, The Home Depot, Liberty Mutual, Nestle and Wal-Mart, are using GIS to engage different consumer groups.
“As emerging ethnicities continue to become responsible for American economic growth, the resources businesses require to reach these consumers must be poised to respond,” said Cesar M. Melgoza, CEO of Geoscape. “We believe that all businesses need to have the clearest possible picture into these high-growth consumer segments to become more profitable.”
