Loqate

Location Intelligence Drives a Competitive Advantage for Retailers in the Digital Age

Enhancing Location Intelligence Is Key for Retailers Competing on Digital Customer Experiences

Digital transformation has redefined the relationship between business and consumer. Firms are realizing they must enhance their digital experiences to remain competitive and promote scalable growth. While some industries are slow to adopt new technology, retail has been the most progressive when looking at new ways to enhance their online user experiences.

Unlock the power of location intelligence

This whitepaper is based on a global Forrester study which aims to understand the value of location intelligence in enhancing digital experiences for both retailers and consumers.

Key Findings:

  • 68% of retailers currently feel location data is critical for their business, but that number jumps to 92% when forecasting its value within the next three years.

  • 52% of retailers believe location intelligence improves operational efficiency whether it is across internal CRM systems or third-party partners that rely on accurate customer data to render their services.

  • 44% of retailers believe accurate location data can increase their earnings, whether through a reduction in failed delivery, improvements in operations or through more effective marketing.

  • 36% of retailers believe location data can help improve customer conversions by enabling a more personalized digital experience which encourages customers to make more purchases.

Why now is the time to be location “intelligent”?

In April 2018, Loqate, a GBG solution, commissioned Forrester Consulting to explore the use of, and attitudes toward, location intelligence in the UK, the US, Germany, Austria, Switzerland, Benelux, and the Nordics. Forrester conducted an online global survey of 253 decision makers across sectors with responsibility for digital customer experience and data, as well as 1,503 consumers who had recently purchased products/services online. This whitepaper focuses on the findings as they apply to retailers around the world including best practices for improving on-site experience and implementing location-based promotions.