UberMedia, the cross-screen mobile ad platform and developer of UberRetail, the mobile data platform for location decisions, together with Directory of Major Malls (DMM), an industry source of retail data and listings of over 7,200 shopping centers in the US and B.I. Spatial, a geospatial business intelligence consultancy, announced a partnership to offer trade analysis for shopping centers to understand retail trade areas using mobile device GPS data.
UberRetail analyses location data for better business decisions
Eric Aledort, Chief business development officer, UberMedia, says:
“This is a true strategic effort where UberRetail, DMM and B.I. Spatial have contributed in developing a truly unique product for retailers and businesses to analyze malls and shopping centers. Using accurate data from consumers’ smartphones, we’re able to pinpoint the best locations for retailers to consider for maximum foot traffic. We’re thrilled to work with these innovative companies to capture shopper data and assist retailers in making better, more informed decisions regarding space.”
The alliance aims to help retailers find the perfect retail space for their customers by providing the data and technology to make a more informed decision.
UberRetail analyses GPS data from mobile devices captured in DMM shopping center location up to a distance of three meters. B.I. Spatial then produces an overview of the likely home locations for the mall’s visitors to provide an overview of trade areas.
Andy Moncla, Chief operating officer, B. I. Spatial, explains:
“In the absence of customer location data, UberRetail’s ability to use GPS location data from mobile devices provides us with the most accurate alternative. When compared to customers from loyalty programs and credit card-based databases, the results are remarkably similar. So, we can now determine the actual trade areas for retailers without having to bother the customer. Before we partnered with UberRetail, we considered other partners but our need for the GPS precision and the ability to locate actual customers, not their cars, could only be satisfied by this solution.”
In addition, the location data is being provided in common formats and made accessible in programmes including Tableau, Alteryx, ArcGIS and Google Earth. Retailers are now able to combine their knowledge of trade areas with demographics and psychographic data in order to develop trade area profiles, retail sales forecasting, real estate strategy development and local marketing campaigns.
Tama Shor, President and CEO, DMM, concludes:
“The immense value of using the device related data UberRetail provides is that it allows us to observe actual consumer behavior. Essentially, the product acts as a proactive and predictive driver of deeper, more precise insight than traditional ring and drive time-based trade areas. The focus on ‘REALITY vs RINGS’ removes the known inaccuracies in antiquated real estate location decision models and replaces it with fact based identification of true consumer activity. Our retail clients now have a method to identify new sites and analyze both their current locations as well as those of competitors or complementary retailers. Additionally, there is potential to better inform marketing groups for more precise and targeted advertising opportunities for digital and mobile ads, search advertising, billboards, and direct mail campaigns.”