Talk about the location analytics it is becoming more and more prevalent in the industry retail but what is the relevance of their use? Pay attention to this post and discover the why.
Trade retail is constantly changing, and the shops have adopted new strategies and technologies to meet the changing needs of its customers. With the rise of e-retail and e-commerce in general, the traditional shops are forced to be more innovative than ever.
Physical stores have begun to understand the power of digital technologies and to integrate them directly to their daily functioning, being one of the innovations more interesting the use of the location analytics, with the purpose of improve the customer experience.
What is location analytics?
The most basic definition of the location analytics or translated to Spanish analysis of the location; it is the ability to get information from location data. But we will go much further to understand that it is technology.
The data generated by the sales usually contains geographic information or information of the location that most of it is not used, however, this may be relevant to contribute from that city and country operations are performed, and even to point out the specific location of the GPS.
When these data lead to the context of the business intelligence and big data allows the retailers to discover new trends and perspectives.
In the retail or retail, the detection technologies of location or location analytics usually require customers to make use of the app store, giving him permission to track your location, this is achieved in exchange for rewards that iran the benefit of the buyers.
The location of the client is determined by the tracking of the phone's GPS or by using the WiFi of the store and the beacons. Fortunately the Latin american market of retail account with a provider that has demonstrated its ability to provide solutions in this area.
Benefits of the location analytics
Below are some examples of the use of the location analytics in the retail market:
- One of the advantages of the use of the analysis of location is the possibility of creation of heat maps, which helps the retailers to have a better idea of the traffic patterns of customers in the store at certain times of the day or even in real-time.
- To find out the best location of a store targeted to a specific audience, you first will want to know in which areas are more likely to buy, which is possible to investigate using the location analytics.
- Once you know what area is best for their target group of consumers, you can increase your income by sales, and your marketing efforts can be more specific and effective.
- Data heat map can also be used to compare different stores and departments, and may eventually help to optimize the experience for particular customer segments.
- The analytical tools based on the location have helped a number of retailers to increase their competitive advantage, reduce their environmental impact, and mitigate their operational risks and reduce costs in general.
- If a chain of fast food restaurants are required to determine the extent to which customers are willing to walk around with this to dine there, the location analytics allows you to easily see sales records, and customize the demographic data of the existing restaurants.
In this way it is possible to predict the value and risks of the locations of restaurants, both new and existing.
Conclusion
The analysis of the location they provide a vast amount of benefits to all retailers, can be used to create shipping estimates more accurate, to change the products advertised to different areas, identify areas of heat and much more.
The retail traditions are in a constant race against their online competitors, but thanks to the results that may be obtained from the location analytics now they can focus on innovating and improving its services, while offering their customers a more personalized experience throughout your journey.
