PASADENA, Calif. ” UberMedia, developer of UberRetail, the leading mobile data platform for location decisions; Directory of Major Malls (DMM), the industry source for comprehensive retail data and listings for more than 7,200 shopping centers in the US; and B. I. Spatial, a geospatial business intelligence consultancy, announced today a strategic alliance to deliver trade analysis for shopping centers and malls that provide a more accurate understanding of retail trade areas using the precision of mobile device GPS data.
This is a true strategic effort where UberRetail, DMM and B.I. Spatial have contributed in developing a truly unique product for retailers and businesses to analyze malls and shopping centers, said Eric Aledort, chief business development officer at UberMedia. Using accurate data from consumers’ smartphones, we're able to pinpoint the best locations for retailers to consider for maximum foot traffic. We're thrilled to work with these innovative companies to capture shopper data and assist retailers in making better, more informed decisions regarding space.
Finding the right retail space that connects with a store's customers is essential for success. What retailers look for is the right data and technology to make the most informed decisions to invest in a site. This alliance will provide a quick and more relevant set of data and tools utilizing proprietary algorithms to be employed against billions of points of data without the intrusion or cost of customer intercept studies.
How it Works
UberRetail analyzes GPS data from mobile devices that are captured within DMM shopping center locations, accurate to within three meters. This provides a better view of a mall's trade area, which can often be missed by traditional methods such as rings or drive times. Using UberRetail's data, B. I. Spatial's methodologies produce the likely home locations for the mall or shopping centers' visitors from which the trade areas are derived.
In the absence of customer location data, UberRetail's ability to use GPS location data from mobile devices provides us with the most accurate alternative, said Andy Moncla, chief operating officer at B. I. Spatial. When compared to customers from loyalty programs and credit card-based databases, the results are remarkably similar. So, we can now determine the actual trade areas for retailers without having to bother the customer. Before we partnered with UberRetail, we considered other partners but our need for the GPS precision and the ability to locate actual customers, not their cars, could only be satisfied by this solution.
The location data can be provided in a variety of common formats and are accessible in many widely used programs, including Tableau, Alteryx, ArcGIS and Google Earth. Trade areas are commonly used in conjunction with demographic and psychographic data to develop trade area profiles, retail sales forecasting, real estate strategy development, and to enhance retailers' local marketing campaigns.
The immense value of using the device related data UberRetail provides is that it allows us to observe actual consumer behavior, said Tama Shor, president and CEO of DMM. Essentially, the product acts as a proactive and predictive driver of deeper, more precise insight than traditional ring and drive time-based trade areas. The focus on ˜REALITY vs RINGS' removes the known inaccuracies in antiquated real estate location decision models and replaces it with fact based identification of true consumer activity. Our retail clients now have a method to identify new sites and analyze both their current locations as well as those of competitors or complementary retailers. Additionally, there is potential to better inform marketing groups for more precise and targeted advertising opportunities for digital and mobile ads, search advertising, billboards, and direct mail campaigns.
Mall and shopping center trade area location analysis can be requested from UberMedia, DMM, B.I. Spatial, and other authorized resellers.
UberMedia is a cross-screen mobile advertising platform that leverages social signals, location history and purchase data to identify the heart of consumer decision-making. UberMedia was ranked #16 in The Wall Street Journal’s Top 50 Start-ups and was listed as one of Fast Company’s 50 Most Innovative Companies. UberMedia has delivered dynamic advertising solutions for many Fortune 500 companies including the top retail, automotive, quick service restaurants, entertainment, consumer packaged goods, and telecom advertisers. UberMedia is a network company of Idealab, a creator and operator of technology businesses. Visit ubermedia.com for more information.
About Directory of Major Malls, Inc.:
Directory of Major Malls, Inc. is the premier source for comprehensive and accurate major shopping center and mall data throughout the US & Canada for over 35 years. DMM offers direct access to more than 8,100 malls, over 308,000 associated tenants and 26,000 primary real estate contacts via online subscriptions and custom data licensing for use in marketing, geospatial and analytic applications. For more information, visit http://shoppingcenters.com
About B. I. Spatial:
B. I. Spatial is a geospatial business intelligence company and has worked with some of the largest retailers in the US. B. I. Spatial's efforts are focused on assisting customer-centric retailers through customer segmentation studies, retail real estate strategy development and building household-based retail sales forecasting models. Visit http://bispatial.com for more information.