Here’s what you need to know today.

1. Foursquare is launching an analytics platform to help retailers understand foot traffic

Foursquare predicted that Chipotle same-store sales would fall 29%  after the Mexican chain was hit with E. coli outbreaks. The actual decline announced by Chipotle ended up being a spot-on 30%.

These analytics can be very valuable to retailers, allowing them to better understand customers’ habits as well as predict store traffic.

From its accuracy in predicting Chitpole, came  the idea that Foursquare should launch a full time analytics app. The company has launched “Foursquare Analytics”, a foot-traffic dashboard for brands and retailers. The platform is available for retailers with any number of stores, no matter how small.

Retailers will be able to use the dashboard to see foot-traffic data across metrics like gender, age and new versus returning customers — on a national or citywide scale.

Read the rest of the story here.

 

2. Adidas steps away from TV advertising as it targets $4 billion growth

Adidas is leaving behind TV advertising as it seeks to quadruple its ecommerce revenues by 2020, according to Kasper Rorsted, CEO of Adidas.

Rorsted has placed increased digital retail sales at the center of his overhaul strategy, aiming to grow revenues from $1.06 billion in 2016 to $4.25 billion by 2020.

The firm also announced last week that it is investing heavily in the digitization process, including 3-D printing and smart manufacturing methods.

Read the rest of the story here.

 

3. In one month, Thailand saw the closures of 67 banks and non-bank branches

ฺBank of Thailand has revealed the multiple closures of banks and non-banks, rounding up to 67 in February alone. 36 banks closed down, and 31 non-banks, which refers to financial institutions that provide limited banking services, also closed down.

Kasikorn Bank saw the most closures, with 17 branches shut down, and Thanachart Bank with 16. Most of the closures were n Bangkok, and represents a global trend of declining needs for banking services. Does this mean that digital banking will be given more room to grow?

Read the rest of the story here.

 

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