Retailers and mall owners looking for innovative solutions to understand their performance in context have a new ally in ShopperTrak.
The leading global provider of consumer behavior insights and location-based analytics recently announced plans to launch a customizable benchmarking product called Market Intelligence as part of its Performance Analytics offering.
"In the spirit of innovation, we have retooled our market benchmarking to give our clients a highly customizable and flexible Market Intelligence offering," said Chetan Ghai, ShopperTrak’s chief product officer. "With products such as this one, ShopperTrak is committed to making continual enhancements to our location-based analytics based on advancements in technologies and feedback from our customers."
With Market Intelligence, customers will be able to create customized markets by grouping zip codes that align with their trade area. According to ShopperTrak, unlike any other product available, Market Intelligence will be available on a next-day basis for categories that include total retail, apparel and accessories, and electronics.
"In consultation with our customers we discovered there is significant value in understanding shopping visits at a customizable zip code level versus a mall level. As a result of the ongoing collaboration with our customers, we will no longer offer shopper visit information at the mall level,” Ghai said.