Building on an ongoing relationship, PlaceIQ and market research company IRI have announced a new partnership that brings insights on location and shoppers’ behavior to the consumer packaged goods sector.
PlaceIQ CEO Duncan McCall describes this collaboration as another example of location data being used horizontally to give different industries new perspectives on their customers. His company anonymously gathers information on consumer behavior such as when they visit a store as opposed to simply being nearby a location, as well as patterns that may emerge from their actions. Under the new agreement, PlaceIQ’s location data will be available to IRI’s clientele, which includes the bulk of the Fortune 100’s CPG and health and beauty brands.
This integration makes use of both IRI’s and PlaceIQ’s expertise to create new understandings of consumers and their habits that can be identified through location data. IRI provides insight on “consumer propensities for purchase, as well as actual purchase patterns,” says Nadya Kohl, PlaceIQ’s executive vice-president of business development.
The agreement also furthers the relationship between these two companies, which earlier saw PlaceIQ resell IRI data as part of its managed media offering that connected purchase propensities to location, she says. “We worked together to provide our advertisers with place visit rates and purchase reporting,” Kohl says. (more)