Device Data Tracking Insights
At Geotech, we’ve been experimenting with mobile device data for the better part of 6 months and it continues to prove it’s value in some interesting ways that has been a game changer for some clients.
Firstly, like any other data, our view is that there is no one data set that answers all of the questions or solves every problem in relation to retail planning decisions. If there is anything our 25 years’ experience has taught us, is that trapping data is the easy part, knowing what to use and how to use it has proven to be very challenging for some retailers.
What we do know, is that device data tracking has its place in network planning just like demographics, retail precinct performance, precinct generators or market share data. Too often we’ve spoken with retailers who base a great deal of their network planning on residential demographics which means other factors shaping the way customers purchase products & services are not properly considered.
Instead of rushing into the market and offering device data tracking as a standard “off the shelf” solution, we’ve carefully analysed and tested it and have been pleasantly surprised with the outcomes.
One client we have been working with utilising mobile device data is McDonald’s Australia, the largest franchised food brand in the country with a network approaching 1000 restaurants. We have been working with McDonald’s for several years to assist them with their network planning, and have built tools to forecast new restaurant sales, optimise existing restaurant performance and predict cannibalisation impacts when new stores are introduced into the network.
Mobile device data has allowed for insight into store performance and strategy like never before. This has included the ability to understand how traffic moves in and out of a restaurant (useful for estimating the implications from changed traffic conditions around a restaurant), understanding the proportion of local versus transient traffic on a store by store basis and understanding how people who visit McDonald’s restaurants otherwise move around the CBD (identifying potential gaps).
Another interesting case study was using mobile data to forecast the impact of the new WestConnex development in Sydney on local restaurants – accurately forecasting the proportion of passing traffic that would subsequently bypass existing restaurants.
Mobile device data is becoming more and more useful to Geotech’s clients, allowing them insight into their customer behaviour like never before.
Geotech is happy to discuss how we may be able to assist retailers by contacting Jeff Vassel 0421 684 444 or email@example.com