Retailers know that reaching the right customers and understanding consumer demand are key to their success. And real estate brokers who are trying to fill vacant space with high-quality tenants recognize that they’ll be able to close deals faster if they can provide retailers and other chain businesses detailed site and market information.
In today’s world, SiteSeer subscribers who want insights into the customer journey that leads people to certain stores and businesses turn to the Visitor module, a tool within the platform. That tool is powered by Precisely PlaceIQ insights.
PlaceIQ was acquired in 2022, by Precisely, a global leader in data integrity software and data, including location intelligence. PlaceIQ visitation insights provide access to foot traffic metrics to tens of millions of U.S. retail and other brick-and-mortar businesses in many different verticals, including dining, auto, grocery, and entertainment.
SiteSeer users who subscribe to the PlaceIQ product are able to observe aggregated trends and visit patterns of store locations and the location of similar retailers. They can identify geographical areas that have excellent potential for their next store or site. With the locations they already have, users can analyze foot traffic patterns to build better sales forecasts.
SiteSeer collaborated with PlaceIQ in 2022 and developed features in the SiteSeer Pro platform that are powered by PlaceIQ insights. Today, many of our retail, shopping center brokers and developers, and economic development professionals use SiteSeer’s Visitor module to learn where businesses’ visitors come from, where else they shop, and more.
In today’s unique retail era, this type of information is useful to retailers and chains. Their research teams can better understand aggregated travel patterns from the most consistent geographic origins and analyze the demographics of those geographic areas. They can create trade areas based on where visitors are coming from and develop more accurate forecasts.
We caught up with Brian Bradtke, Senior Director, Partner Development at Precisely, to discuss the multitude of ways that retailers and retail real estate professionals can power their business decisions with PlaceIQ insights. Brian also shared how the company has enhanced its product.
PlaceIQ has been developing products that facilitate the creation and building of advertising audiences and measurement solutions, analytics, and retail dashboards for over a decade. Our insights products and solutions are used by companies to communicate more effectively with their customers, to understand visitation patterns, ad effectiveness, and to analyze traffic patterns compared to their peers.
PlaceIQ helps customers understand audience patterns and foot traffic and helps improve their own advertising. We have grown significantly over the years and created many new versions of our products and solutions to cover even more use cases, including site selection and analytics for customers like SiteSeer. Our focus has always been on location intelligence and movement, and we have never wavered from that focus and providing that expertise.
These days, many businesses get excited by the idea of being able to service the needs of their customers’ and enhance the retail shopping experience through insights about interests and patterns.
Now that the PlaceIQ solution is part of the extensive Precisely portfolio, it is very exciting because of the breadth and depth of expertise and additional products that will be added to the solution over time. It is also notable that PlaceIQ recently added new data sources that are already bringing significant incremental scale and stability to our products. We regularly evaluate our existing sources and aim to add new high-quality sources. 2024 has already seen several added, with more to come.