GeoIQ has served retail brands across categories to open over 2,500 stores by assessing more than 25,000 locations with their site analysis report.
New Delhi: Bengaluru-based location AI startup GeoIQ has launched a feature that will give users offline retail footfall counts and visit trends as part of their comprehensive site report, a release by the company said on Thursday.
Through this tool, brands will be able to get reliable footfall numbers at scale from malls and high streets across the country to optimize their site selection process and other operational challenges with the help of unprecedented insights into footfall, competition, rentals, demographics, and revenue potential at a street level, the company said.
GeoIQ has served retail brands across categories to open over 2,500 stores by assessing more than 25,000 locations with their site analysis reports. Adding the market footfall trends to this report makes it a more comprehensive offering that nobody else in the location data and AI space provides.
“We believe Indian retail has been long overdue for tech disruptions. Following an incredibly successful year, today’s feature launch marks another promising step towards our larger mission of democratizing retail data. We envision becoming the Google equivalent search engine for the retail sector, maximizing returns for all stakeholders,” said Devashish Fuloria, chief executive officer (CEO) and co-founder, of GeoIQ.
GeoIQ has worked across various retail segments including brands like Lenskart, The Sleep Company, Stovekraft, and GIVA. In FY 2024, GeoIQ facilitated the successful opening of 850+ offline stores, with an ambitious target to quadruple this number in FY 2025. GeoIQ’s credibility lies in granular street-level data, machine-learning models, and rigorous validation processes. GeoIQ aims to unlock the $2 trillion India Retail opportunity and achieve an annual revenue target of Rs 500 crores within 3 years.
