In case you missed it, this year we launched SafeGraph Spend. Spend is the first transaction dataset to associate anonymized and aggregated consumer spending behavior to hyper-accurate points of interest (POIs). Built upon SafeGraph Places, a POI dataset updated each month to reflect when businesses open, close, relocate, or change name, Spend includes information about the raw spend, volume of transactions, median spend per transaction, spend by day of the week, and offline vs online spend at each POI.
With the June 2022 release of SafeGraph Spend, data scientists can derive even more insights about consumer spending behavior. This release includes new cross shopping columns that detail what other brands consumers spend money at in a given month. For example, cross shopping can show that 49% of consumers who spend money at the McDonald’s on 123 Main Street in January also made purchases at Target that same month. The addition of these new columns means the Spend dataset not only shows geographic patterns in consumer spending behavior, but also brand affinities.
There are ten new columns included in Spend to highlight these brand affinities, all reporting cross shopping behavior by percentage for easy comparison and analysis.
New cross shopping columns include:
Cross shopping insights provide a new dimension to the behavior of consumers in and around physical places, but also online. Discovering brand affinities between brick and mortar stores and ecommerce sites helps show how consumers engage in an omnichannel market, and can be used to build stronger products, services, and offers for customers.
Some top use cases for cross shopping insights include:
The flexibility in geographic analysis offered by SafeGraph Spend enables data scientists to uncover consumer spending patterns and brand affinities at the level of granularity they need.
To see more brand affinity insights derived from SafeGraph Spend’s new cross shopping columns, check out our monthly retail scorecard. Each month we will highlight two competitive brands to see how their customer bases differ in spending behavior.
Interested in exploring cross shopping columns for yourself? Schedule a demo with one of our experts.