Knowledge in retail is power
There are 75 companies who provide smartphone locations to advertisers, retail outlets, and hedge funds seeking insight into consumer behavior, according to NYTimes. Data is gathered when people use apps on their phones.
Business continues to grow: Sales of location-targeted advertising reached an estimated $21 billion this year.
Worth Noting: Startups like Descartes Labs and Orbital Insight provide retailers and investors with real-time data about foot-traffic near properties. In other words, these startups help businesses learn about the number of potential consumers in a selected location. Images of parking lots are also sold.