Foursquare launches analytics tool to help retails drive traffic

In a declining mall climate, Foursquare Analytics recently unveiled a plan to help retailers drive traffic.

The company planned to spill its secret on trends at the Shoptalk conference in Las Vegas. The second annual event is an event where retailers and industry insiders gather in order to see discuss and predict the retail climate for the future. Foursquare uses its technology in order to drive results on these retail trends and what it means for brick-and-mortar shops.

The app acts as a tool that demonstrates where customers go including stores, dining restaurants, cafes, and more. In order to help benefit retailers more, the app is offering a new solution so that advertisers an see this data and use its analysis to help drive store traffic. “it’s a technology platform to understand your share of shopper traffic as a retailer or fashion brand with brick-and-mortar outlets and be able to see how its trending over time, where your customers are coming [and] going to,” chief executive officer of the company Jeff Glueck told WWD.

Foursquare launches analytics tool for retailers

Foursquare allows for users to check in at nearly 100 million spots including retailers and other shopping experiences. Using this foot-traffic dashboard data in order to predict trends is one way that brick-and-mortars can fight against the current status of in-person shopping. With the new technology, retailers will e able to see metrics including age, gender, location, and whether or not the customer is new or returning. According to TechCrunch, the data is normalized in oder to accurately represent the U.S. population as a whole when observing the analytics.

The data will be available through Foursquare Analytics for anyone. Previously, this information was strictly limited to retailers who worked directly with the company. Branching out, it seems that the company is moving towards improve foot traffic of retailers on a national scale.

Photo: Foursquare

 

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