Who’s shopping where? The power of geospatial analytics in omnichannel retail

The wave of store closures across the US retail sector continues. In 2017 alone, more than 7,000 stores went dark, unable to withstand consumers’ rapid migration to e-commerce, the explosive growth of direct-to-consumer brands, and the glut of retail square footage in the heavily overstored US market. Retail space per capita in the United States is 15 to 20 times that of other major developed markets. Customer traffic at malls has been steadily decreasing. Margins are declining in almost every retail category. Given these trends, it’s becoming harder to justify keeping expensive brick-and-mortar stores open if they don’t meet sales expectations. Already, in the first few months of 2018, retailers have announced plans to shutter an additional 3,800-plus US stores.


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