As it looks to offer advertisers a more complete picture of the customer journey online and offline, Foursquare is partnering with InfoScout to tie foot-traffic location and product purchase data together for consumer packaged goods (CPG) brands.
Foursquare announced a similar partnership with Nielsen late last year to enable its Attribution by Foursquare offering.
The latest relationship works like this: InfoScout integrated Pilgrim SDK [software development kit] by Foursquare into its mobile apps, which capture receipt images from more than 300,000 people who make about 350,000 purchases per day. The combination of technologies results in an overlap between the InfoScout purchase panel and Foursquare’s location data to create a holistic understanding of where people go when they shop.
Foursquare said it’s using three of its products in the partnership with InfoScout—its Pilgrim technology to do the panel match; an attribution tool to measure results; and its media solution, Pinpoint, to create dynamic targeting models to reach consumers based on where they've been and what they've purchased.
Peter Krasniqi, VP of global sales strategy and operations, Foursquare, noted in a blog post that “despite the growth of e-commerce, U.S. Census data shows that more than 90% of consumer shopping still happens in the real world, a significant portion of which is consumer packaged goods (CPG) spanning health and personal care, cosmetics, packaged grocery items and more.”
And while much of this activity takes place offline, “tying together an understanding of where people shop and what they buy is key to helping CPG companies understand their customers and how to better reach them through advertising and how to measure effectiveness of that advertising.”