GPS Geofence Research
Real Data, No More Best-Guessing
The genie is out of the bottle. Now, the industry can monitor, measure and quantify actual shopping patterns and actual-shopper demographics. Because we are shopping center people, our methodologies and deliverables are based on years of working with development, management, leasing and marketing professionals. Our findings are strategic and applicable to real-world retail real estate issues.
The Old Way
Drawing 3, 5 and 7-mile radius lines, constructing zip code polygons, super-imposing drive times… best-guess “methodologies” that had no basis in fact.
The NEW Way
Using thousands – even millions – of GPS Geofence data points to define trade areas and to derive actual shopper demographics.
Consumer Research
Over the decades, August Partners has designed and conducted hundreds of in-center and online shopper studies. Now, our clients are increasingly adding these studies – post-geofence research – to flesh-out category allocation, specific store/restaurant/brand priorities and co-tenancy synergy decisions. Our consumer studies provide quantified/prioritized leasing matrices – by store/restaurant/tenant name – filtered by critical data such as HH income, purchasing patterns, shopping frequencies and our exclusive “Forwards” and “Value Stance,” etc. mindset/lifestyle metrics.
Geofencing data can be used to “aim” online surveys into challenge and opportunity zips. Seasonal and other geofence findings can also shape the content of survey questionnaires.
Market Research
Let’s say your geofence research says that your shoppers have an average household income of $95,000. Is that good or not so good? That’s where market research data comes in. If average HH income for the market is $85K, it’s good. If market average HH income is $100K… well, that’s not as good, but it tells you what you need to know about your price-point mix.
Retailer Site Selection
Geofence research opens up a whole new way for retailers to evaluate sites. Cross shopping analytics between two centers can provide go/no-go data on second location decisions. Void analysis can precisely define actual store trade areas within a market, revealing new/added location opportunities.
Center-by-center geofences allow retailers to compare options: which center has the highest visit volume? Which center generates the highest frequency levels? Which center’s shopper demographics match-up best? Which center’s weekpart/daypart patterns are optimal?