Recently, EDR hosted a webinar on Retail Site Selection in Today’s Era of Transformation. Gregg Katz, Director of Innovation & Technology for the Atlanta Shopping Center Group, shared the story of how mobile data challenged the assumptions of who was shopping at a prestigious Atlanta-area shopping mall.
Mobile phones, apps, and in-car navigation all leverage GPS data and can reveal actual consumer movement. This data offers retailers a more accurate and detailed understanding of customer psycho-graphics and behavior.
Mobile data can upend long-help assumptions derived from traditional radius ring or drive time analyses of who’s shopping where and why.
One Atlanta shopping mall learned they were missing entire segments.
While the mall was located adjacent to two wealthy zip codes, mobile data revealed customers were coming from communities outside the radius ring, and that there was plenty of empty space within what they thought was their primary trade area.
Katz cautions retailers that while GPS data has important revelations to offer, every technological advance needs to be balanced with on-the-ground knowledge and area context (e.g. a soon to open or close highways, competing malls).
Satellites know your customers. Do you? Learn more from our full webinar recording here.