GeoIQ Unveils Groundbreaking Offline Retail Footfall Feature

GeoIQ, a leading location AI startup, has launched a trailblazing feature enabling users to access offline retail footfall counts and visit trends. This innovation offers unprecedented insights into footfall, competition, and revenue potential, revolutionizing site selection. GeoIQ aims to transform offline retail decisions with data-driven analytics and AI recommendations.

GeoIQ, a leading location AI startup, announced today the launch of an industry-first feature for offline retail footfall counts and visit trends, available as part of their comprehensive Site Report. This revolutionary tool allows Indian brands to obtain reliable footfall data at scale, facilitating better site selection and operational decisions based on real-world insights.

Historically, offline retail in India has faced challenges with opaque data, relying on traditional methods or anecdotal evidence for decisions. GeoIQ has served over 2500 retail stores by assessing more than 25,000 locations. With the inclusion of market footfall trends, GeoIQ's reports provide a more comprehensive analysis, unlike any other offerings in the location data and AI space. This innovation aims to streamline the offline expansion cycle, making it faster and more profitable, with data-backed decisions reducing the risk of store closures and associated costs.

Devashish Fuloria, CEO and Co-Founder of GeoIQ, stated, "The Site Report uses transparent data and analytics to address the challenges in offline retail decision-making. We aim to be the equivalent of a search engine for the retail sector, maximizing returns for all stakeholders." GeoIQ has helped brands avoid poorly performing sites, saving retailers over INR 300 crores. With ambitions to expand further, GeoIQ targets facilitating the opening of 850+ offline stores in FY 2024 and quadrupling this in FY 2025, aiming to unlock India's $2T retail opportunity.

(With inputs from agencies.)