January 23, 2018
They say love is all around. Well, if you are in a shopping mall, so is technology. Geotracking – the ability to follow shoppers using signals in the their mobile phones – may sound a bit sinister but it is actually helping mall landlords and retailers be more efficient in marketing to their customers.
JLL is using a new tool – appropriately called Pinpoint to establish a “geofence” around individual malls inside which shoppers can be monitored. It’s a classic “big data” tool that can feed landlords and retailers with precise information on which stores actual shoppers visit and how long they shop there, all in real time.
In the past, retailers have relied on an assimilation data to create a picture of a theoretical shopper. They’ve used demographic data to determine where stores should be based and landlords have used much the same data – household income, traffic counts — to decide where to build and buy shopping centers.
Tell me what you want, what you really, really want
With technologies like Pinpoint, mall owners and retailers can have a picture of a real time shopper, making it possible for them to make even more informed decisions related to what that shopper wants. They can target ads and send coupons and special offers straight to the shopper’s mobile phone in time for a potential sale. No more shop assistants asking, “Can I help you?” as you hold up that new paisley shirt. Instead, you will receive a beep on your phone and a 20% off coupon.
Much has been made in recent years about the rise of ecommerce and shoppers’ move away from the shop window to the computer screen. Technologies like Pinpoint are part of a rapidly growing sector making it possible for retailers to maximize their service to actual shoppers and also give them a reason to spend more time at the mall – time shopping, not just mall walking.
I’m an Executive Vice President with JLL retail brokerage, specializing in urban landlord and retailer representation in San Francisco and selected suburban markets. I serve as a trusted advisor for owners of commercial properties providing senior level direction on retail strategy, merchandising, leasing and repositioning. In addition, I represent best in class retailers in their market expansion and development efforts.
Contact me directly by phone at +1 (415) 228-3070 or via email at email@example.com.