As Sears and Kmart stores close, where will their shoppers go?

Where will shoppers go if Sears and Kmart close?

For those of us interested in the retail space, foot traffic, or simply business in general, the closure of major retail stores like Sears and Kmart is a big deal. Both rank in the top 10 for visit share in the “Department Store” category. That’s a lot of visitation, so as their presence diminishes, other stores stand to gain considerable business. To get an idea of where that might be, we can use Placed Insights to examine two key visitation metrics: customer overlap* and customer affinity.**

Department Stores

While Sears and Kmart are not completely similar (Sears is a mall-based department store while Kmart is geared toward bargain shoppers), they do share a lot of visitation with two other major department stores. Among Sears, Kmart, JCPenney, and Kohl’s, we saw customer overlap between roughly 19-25% last quarter. It wouldn’t be surprising to see more shoppers turn to these stores after Sears and Kmart close.

Specialized Stores

More specialized stores may also see an increase in foot traffic. Sears is known for carrying a broad range of products including electronics, appliances, lingerie, and athletic shoes. Three distinct competitors with significant customer overlap or customer affinity with Sears includes Best Buy (27%), Victoria’s Secret (20%) and Finish Line, which has a 1.53 Customer Affinity index with Sears.

Discount Stores

Dollar-branded stores such as Dollar Tree and Dollar General both stand to gain Kmart foot traffic. Both are in the top 3 in terms of customer overlap, with 37% and 24% respectively. Discount retailers Five Below and Big Lots may also gain customers, as they have a Kmart Customer Affinity Index of 1.26 and 1.23 respectively.

*Customer overlap is the percentage of all visitors to one business (i.e. Sears) that also visited a second business (i.e. Kohl’s) in a given time frame.

**Affinity Index is the likelihood that a given population (i.e. Autozone shoppers) also visited another business (i.e. Whole Foods) in a given time frame, compared to the general U.S. population. For example: if Autozone shoppers have a Whole Foods Affinity Index of 1.50, it means Autozone shoppers are 50% more likely to visit Whole Foods in the given time frame than the general U.S. population.

Placed Research: How Advertising has Evolved for QSR & Fast Casual Restaurants

QSR campaigns perform well compared to other verticals or categories.

The ubiquity of mobile devices has dramatically changed the landscape for restaurant advertising, particularly for Quick-Serve (QSR) and Fast Casual. No longer constrained to the desktop, digital advertisers have embraced the possibilities of mobile data and continue to do so—digital ad spend measured by Placed for QSR and Fast Casual increased by over 1,000% between 2014 and 2018.


In this new paper from Placed Research, we explore unexpected and useful insight gained through nuanced location analysis that can be used to guide advertising strategy:

  • QSR marketers do better than average in terms of lift and efficiency
  • Audio and Social apps are the most cost-effective channels for influencing QSR customers
  • QSR and Fast Casual marketers spend efficiently on TV
  • Tactical incrementality is strongest for younger & less loyal customers

Read the full report here, or contact sales@placed.com to learn more.

Placed Attribution Introduces New Interface for Reporting

Placed, the leader in offline omni-channel attribution, is closing out 2018 with the launch of a reimagined interface for attribution reporting.

The effort represents months of collaboration between Placed and its partners to provide a better view into the role of foot traffic in advertising campaigns.

Placed Attribution Redesign
Placed Attribution

“We believe that self-service and the accelerated adoption of location based attribution go hand in hand,” says David Shim, Founder and CEO at Placed. “The redesign of Placed Attribution will empower our clients to take full advantage of our industry-leading digital, TV, and out-of-home reporting data.”

The new tool boasts interactive visualizations and dynamic datasets that put you in control of the experience. Users can also explore campaign results from any device, highlighting Placed’s commitment to making visitation data more accessible for all stakeholders.

Sample Attribution Report
Sample Attribution Report

Existing partners and advertisers can experience the UI immediately at Placed Attribution.  To learn more about Placed and demo the new UI, please reach out to us at sales@placed.com.

New Placed Research: Millennials and Auto Shopping

Driving Millennial Shoppers into Car Dealerships

 

The time has come—Millennials are ready for car ownership. They’re past their college years, getting married, earning good salaries, and considering moves outside of urban areas. If you’re an automotive marketer and still think of Millennials as teens who only use ride-sharing services, this Placed Research report is for you.

 

Millennials are actively shopping for vehicles, and using ride-sharing apps as a supplement to car ownership

By integrating Placed’s large-scale business visitation data with 1st-party automotive shopping surveys, we validated that Millennials are shopping at dealerships and taking test drives.

  • Millennials account for 1 in every 5 visits to dealerships.
  • 1 in 3 Millennial dealership visits is a shopping visit.
  • Millennial auto shopping visits over-index for Lyft and Uber app installs.

Although Millennials are ready to buy cars, the study also shows that Millennials shop differently. Fortunately, their real-world behavior—day of the week, time of day, business affinities—follows consistent patterns that can be used for optimizing marketing programs and ad campaigns to drive more Millennials to shop and test drive at dealerships.

Learn more by downloading the report or by contacting sales@placed.com.

Placed Joins Roku’s Measurement Partner Program

Measured by Placed, Roku Platform Drove 164,000 Offline Visits for Jack in the Box Campaign

On October 9th, Roku announced their new Measurement Partner Program to help brands and publishers quantify the impact of ad campaigns. As a Roku measurement partner, Placed provides offline attribution for OTT campaigns running on the Roku platform.

 

Highlighted in Roku’s press release is Placed’s measurement of a Jack in the Box campaign:

“Roku helps marketers track results on both OTT and linear TV across a variety of points during a campaign. Through the Measurement Partner Program, Jack in the Box worked with Placed to determine its campaign on the Roku platform drove more than 164,000 store visits from December 2017 through February 2018. 43 percent of the campaign reach came from potential new customers.”

 

For more information about attribution for TV, contact our Placed Attribution experts.