E-Commerce retailers have access to a wealth of information on customers: the links they click, the products they purchase, and even the competitor web sites they visit. This breadth of data, however, doesn’t come easily to brick-and-mortar retailers.
Location analytics provider Placed is attempting to alleviate this issue by bringing data collection into the brick-and-mortar world. Placed Insights is a ratings service designed to provide retail employees with quantifiable metrics of consumer behaviors in stores. The service, which was launched in May 2013, provides retailers with access to a full suite of analytics reports, helping them measure a series of data points, such as:
- Customer demographic information;
- In-store foot traffic at a regional, national and demographic level;
- Real-time customer behaviors and traffic patterns;
- How advertisements impact traffic and sales; and
- Detailed metrics on competitor performance.
Placed provides these detailed insights on a daily basis by measuring 100 million locations across more than 100,000 opted-in U.S. smartphones. Consumers can opt in by installing a mobile app that calculates location, and provide demographic information and respond to survey questions. The data is run through the Inference Pipeline to assign a retail location to a series of raw data points, and is then quantified and delivered through the Place Graph. Retailers then can better understand consumers’ browsing and buying behaviors across a series of stores, and in turn, their overall affinity to the brand.