Providence, RI - April 21, 2020 - Trade Area Systems (TAS), a leader in data-driven software solutions for retail real estate site selection and data visualization, and Spatial.ai today announce a partnership integrating Geosocial data into TAS’s suite of applications. With access to a state-of-the-art, location-based social media dataset, TAS users can now understand their consumers with even greater precision. Specifically, traditional consumer data like demographics and psychographics can be layered with real-time, self-contributed lifestyle segmentation.
Communities, like people, are unique and cannot be accurately defined by a single demographic or psychographic characterization. Spatial.ai’s Geosocial dataset allows decision-makers to better understand each community’s multifaceted interests. Are the people in my area of study interested in wellness? Are they also craft brew lovers who have a penchant for traveling? How does the block group rank nationally for nightlife, artistic behavior, outdoor activities? 72 interest categories are featured in the platform and include segments such as Bookish, Dog Lovers, Girl Squad, Hops & Brews, Trendy Eats, and Yoga Advocates.
“From advancing technology to new data sources, innovation has always been a driving force behind our growth and success at TAS,” said Bill Dakai, TAS president. “Our new partnership with Spatial.ai will provide users access to Geosocial data, allowing clients to understand the social behaviors of consumers to drive business strategy. From improving predictive models to identifying micro marketing areas, we look forward to all the innovative ways our clients can utilize this data.”
TAS users will be able to use Geosocial to:
- Scientifically select new sites that align with community interests
- Attract the right tenants to a shopping center
- Reduce error in sales forecasting models
- Identify key customer segments that drive success for a brand
Map of "Hops & Brews" social activity in Charlotte, NC. Retail types that are synergistic with the Hops & Brews segment are American Restaurants, Tapas, Coffee & Wine Bars, and Brunch Spots.
It’s clear from the evolving retail landscape that consumer needs are changing. With 80% of the US population using social media (40% over the age of 65), this data source has become vast and is extremely descriptive of a community’s changing characteristics, including shoppers’ interests. With Geosocial as an additional variable in TAS, analysts can stay ahead of the changing needs of their customers by listening and responding to their desires.
“Incomplete, out of date, and silent data cripple site selection decisions,” said Lyden Foust, Spatial.ai CEO. “We are in an era of retail where understanding customers is critical to success. The TAS team has been on the forefront of using geodemographic lifestyle segmentations, and is the right group to reveal the previously silent dataset of the 50+ million shoppers talking about their interests in trade areas.”
About TAS: Trade Area Systems’ industry-leading real estate and analytics platform empowers retailers to make better, faster decisions in an omnichannel world. Our products allow them to collect, visualize, analyze, and manage all the data that drive those decisions. Visit www.tradeareasystems.com, @TASnews on Twitter, and @WeAreTAS on Instagram.
About Spatial.ai: Spatial.ai’s Geosocial data is the world's first human-driven location dataset - built by organizing billions of location-based social media into 72 segments. Since launching their Geosocial segmentation in 2019 companies like Ford, TSCG, Keller Williams and over 150 retailers/restaurants with 100,000+ locations use Geosocial data to predict demand, select locations and uncover the invisible community characteristics that have a bottom-line impact on their business. Spatial.ai is backed by Serra Ventures, M25, Futureshape, and Techstars. They have won multiple awards in machine learning and artificial intelligence from Google, Fortune Magazine, and Disruptor Daily. For more information, visit the company website at https://spatial.ai/.
TAS Media Contact:
Director of Marketing & Communications
401-272-2600 ext. 240
Spatial.ai Media Contact:
Head of Marketing and Design