Feature Highlight – Location Based Analytics (LBA)

Location-based analytics in our digital shelf analytics tools refers to the process of analyzing data based on the geographic location of stores. This analysis helps retailers gain insights into regional and local market conditions, enabling them to optimize pricing, inventory, and assortment strategies across channels.

Location-based analytics can provide a range of useful information :

• Average Prices by Store and Location: Gain visibility into prices across different locations to understand competitors’ pricing strategies and identify opportunities to optimize your own pricing.
• Product Availability: Track product availability and assortment across various locations to manage stock levels effectively and reduce instances of out-of-stock items.
• Omni-Channel Insights: For omni-channel retailers with Click & Collect models, gain insights into how physical store data integrates with online sales, enhancing overall strategy.
• Price Comparison Across Channels: Monitor and compare prices between online and physical stores to maintain competitive pricing strategies and consistency.
• Assortment Analysis: Understand the product mix of your competitors by analyzing the availability of products in different locations. Identify opportunities to fill niche markets or avoid oversaturation in areas with high competition.

Using location-based analytics is crucial for any brand presented in multiple channels because it can help them to better understand their customers, identify new markets, and ultimately increase sales. By leveraging this data, brands can optimise their assortments mix, improve the customer experience, and stay ahead of the competition in omni-channel retail.

Get to know more about our DSA feature and have a chat with one of our digital shelf experts by booking a demo!