January 25, 2017
Precise and accurate mobile data combined with Tango’s advanced modeling technique provides retailers and restaurants with a faster, more reliable way to determine trade area overlap.
Tango, the leading provider of Retail and Restaurant Analytics and Strategic Store Lifecycle Management solutions, and UberMedia, a trusted mobile authority that transforms behavioral data into actionable consumer insights, today announced they are unveiling the future of Sales Cannibalization Studies at the IFA Convention in Las Vegas. While at the convention, the companies will be showcasing their cannibalization analysis offering, SiteImpact™, which combines Tango’s advanced analytics processes with UberMedia’s uniquely precise mobile location data. SiteImpact enables franchisors and franchisees to quickly and cost-effectively determine the impact of proposed new locations on existing stores or restaurants.
“Starting with the best data is critical, and our data is sourced directly from the GPS signals of mobile smartphones whose use is widespread,” said Eric Aledort, Chief Business Development Officer, UberMedia. “Unlike historical surveying methods that were costly, time-consuming, and often biased due to subjectivity and variability, these ultra-precise geolocation points are generated by mobile devices to yield the fastest, most accurate data in the industry.”
Combining this timely, accurate data with Tango’s advanced cannibalization modeling techniques provides retailers and restaurant companies with a unique competitive advantage. Unlike traditional on-site intercept surveys that take place at individual stores, SiteImpact allows a retailer to geofence a location, capture the UberMedia data points, and conduct cannibalization analysis faster, cheaper and most importantly, more precisely.
“One of the critical issues facing restaurant companies and retailers involves quantifying the cannibalization impact from potential new locations,” said Pranav Tyagi, President & CEO, Tango. “Often, cannibalization limits are written into franchise agreements, and if the threshold is exceeded, then the deal falls through. The SiteImpact offering helps franchisors and franchisees avoid situations where excessive cannibalization has turned a profitable store into a problem one.”
Tango and UberMedia will be at IFA Convention 2017, January 29 through February 1, 2017, in Booth 603.
To order a cannibalization study online, follow this link for a custom report.
One of the most trusted mobile authorities, UberMedia transforms mobile behavioral data to power actionable business intelligence, advertising, and measurement. UberMedia’s diverse suite of products process billions of social, demographic, and location signals daily for Fortune 500 companies across retail, automotive, and entertainment to better understand and influence modern consumers with the most accurate business decision science. Recognized as a pioneer in targeted mobile advertising, UberMedia was listed as Fast Company’s “50 Most Innovative Companies,” The Wall Street Journal’s Top “50 Startups,” Entrepreneur Magazine’s “Best Entrepreneurial Companies in America,” and as one of Advertising Age’s “Best Places to Work.” UberMedia is headquartered in Pasadena, CA as a network company of Idealab, a world-renowned operator of leading technology businesses. For more information, visit www.ubermedia.com.