Gravy, ROIchecker Announce VisitCast Foot Traffic Predictor for Restaurants
Gravy,the only location-based behavioral analytics provider unlocking customer interests based on verified local event attendances, and ROIchecker, the first predictive analytics solutions provider to manage event-driven incremental sales in the restaurant industry, announced the launch of VisitCast. The solution helps restaurant chains increase profitability by predicting foot traffic through visit analysis tied to historical and future events and activities customers attend around individual stores. The partnership combines Gravy’s GOLD local insights and context platform with ROIchecker’s proprietary data modeling analytics, giving restaurant companies the ability to know when store traffic will peak and when it will lag to adjust to fluctuations and optimize profit.
Unpredictable customer flow has been historically one of the main obstacles for restaurant operators to maintain profitable store locations. Now, with VisitCast, built on GravyGOLD’S historical and upcoming local events and activities data and its AdmitOne event and place attendance verification, restaurant operators have visibility into what has, what is, and what will be happening around store locations that impacts foot traffic and sales. These unprecedented insights empower operators to know when customers will be attending upcoming events, enabling them to plan ahead for everything from staffing to F&B purchases and even operating hours.
“Having high fixed cost operations, restaurant operators like me are limited in the number of decisions we can make to optimize profits,” says Kris Diemar, CEO and owner, Smokehouse Live. ”VisitCast will go a long way to drive down operating costs and increase customer satisfaction.”
“Optimizing operations based on store traffic is paramount to success,” says Jeff White, CEO, Gravy. “Gravy and ROIchecker’s delivery of the knowledge of where customers will be lets restaurant companies proactively manage store operations-to-traffic. Imagine the power of learning that local high school basketball games and local concerts typically drive store visits, and always knowing exactly when and where similar events are about to occur.”
“With 5 percent industry wide forecasted net profits and an expected 1.6 percent sales growth, restaurant companies face mounting pressures to compete and win,” adds Lucas E. Wall, CEO and founder, ROIchecker. “We can now add location-based behavioral analytics and Gravy’s patented geo-fencing technology to increase the visibility of sudden changes in foot traffic. It’s extremely rewarding to be working with Gravy, helping leaders in this space know what to anticipate and how to affect positive change on same-store sales and operations.”