How Retailers Can Use Geospatial Data

The holiday shopping season is here, and the retail world is buzzing. In a competitive market, retailers always look for ways to get ahead of their counterparts and stand out. The answer to standing out may be in data and analytics – particularly geospatial data. Many people might think of environmental and military uses for geospatial data, but commercial applications, such as the retail world, are becoming increasingly common. Let’s look at some ways that retailers can use geospatial data.

Enhancing Marketing Strategies with Location-based Data

What do the retail and real estate industries have in common? Location, location, location. Location-based marketing allows retailers to engage with their target audience in new and exciting ways. Retailers can run marketing campaigns and gather geospatial data points to transfer to GIS applications. GIS applications can analyze data collected from campaigns, which analysts can turn into insights about the target audience and their consumer behaviors.

Optimizing Store Locations with Geospatial Analysis

Growing retail operations are always looking to expand. While the last few years have seen the rise of online-only retail stores, many stores still have traditional brick-and-mortar locations alongside their online storefronts. When retailers look to expand, geospatial tools can help them find optimal locations for their next store. With geospatial tools, management and ownership can sort through the best places based on chosen categories, such as visibility, customer location data, real estate price, and more.

Streamlining Supply Chain Management with Geospatial Insights

Supply chain disruptions were common during the COVID-19 pandemic. While many of these issues have settled in 2023, retailers have realized how critical it is to have solid logistical plans. Geospatial data can be a way to track the real-time movement of materials across areas. Many retailers already utilize similar technology for tracking the delivery of customer packages with merchandise. Geospatial technology is constantly evolving in its capabilities, so the opportunities for geospatial tech to improve supply chain management will only increase. 

Improving Operations with Real-time Inventory Management

During the holiday rush and other busy times, efficient inventory management sets good retailers apart from great ones. Geospatial technology can improve inventory management, especially for more extensive operations. Retailers can use geospatial data and cloud-based applications to monitor inventory levels across locations. Taking advantage of this can help retailers prevent stockouts and overstocking. Inventory managers must train on any newly utilized software, but their jobs will become much easier once they learn it.

Forecasting Sales and Planning with Predictive Analytics

Successful retailers know the power of forecasting. While the industry is moving in many directions, predicting future sales trends is critical to driving revenue. Retailers can add geospatial data and insights to complement their existing data to help build accurate forecasts. Predictive analytics is a growing interest for many businesses, and geospatial data and technology are a significant part of that.

Enhancing Customer Experience with Store Layout Optimization

Customer experience is everything. Retailers can lose many customers if their store is difficult to navigate or their path to purchase isn’t clear. Many GIS applications have functions for city wayfinding in certain areas, and many large retail operations can apply these principles to their operations. When customers can find what they are looking for and have an enjoyable experience in your space, they are more likely to purchase something (and be repeat buyers).

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Work With T-Kartor USA

Beyond retail, geospatial technology brings benefits and innovations to countless areas. At T-Kartor USA, our expert teams work on projects and development in defense, city wayfinding, satellite imaging, and more.

If you are interested in working with us or have any geospatial questions, contact us today!