Foursquare has released Foursquare Analytics, a dashboard designed to give retailers and restaurants greater visibility into location intelligence. With the platform, analysts gain a better understanding of changing store visit patterns and their share of consumer visits.
The platform uses Foursquare’s Places database — which powers more than 100,000 mobile apps including Snapchat, Twitter and Apple — and anonymized in-store visit data from consumers who have opted into always-on location sharing, to monitor foot patterns within brick-and-mortar stores.
Foursquare puts the foot traffic data through rigorous data normalization processes to ensure it accurately reflects the U.S. population.
Advertisement
Beta partners include H&M, Lowe’s, Taco Bell, TGI Fridays and luxury lifestyle brand Equinox.
As a demonstration of the solution, Foursquare ran a case study analyzing T.J. Maxx’s recent retail success. Using city filters and category comparisons in the Foursquare Analytics dashboard, the Foursquare team determined that T.J. Maxx has “tremendous growth potential…perhaps with a combination of improved product assortment and regional campaigns.”
In a blog post on Medium, Jeff Glueck, CEO of Foursquare, noted that the platform grew out of the company’s attempts to solve one particular location-based problem:
“We built our location tech so we could provide timely recommendations to Foursquare City Guide users about the best places to go, and then with passive location detection, we could serve up tips based on their journey. We then realized that being able to recognize when phones walk in and out of 93 million public places worldwide created an incredible data set for aggregate and anonymous analytics. It turns out this capability can solve many business problems outside of our own.”
Foursquare Analytics complements a company’s existing marketing cloud without needing any in-store hardware or the necessity of setting up geofences.
Foursquare also recently launched Pilgrim SDK, which opens up location awareness to app developers and brands so they can implement it in their own apps and products.
