NEW YORK, Aug. 24, 2016 /PRNewswire/ -- PlaceIQ, the company building a new model of consumer behavior by connecting physical and digital activities across time, space, and mobile devices, today announced its selection by the Bryant Park Corporation (BPC) as the first to provide location-based insights for New York City's iconic Bryant Park.
Managed by the not-for-profit BPC organization, the park provides visual, cultural and intellectual experiences for New Yorkers and visitors, in addition to offering hundreds of events each year. Partnering with PlaceIQ enables BPC the ability to use location data to better understand visitors and apply insights that may increase foot traffic and improve the park experience for visitors. These insights will also fuel effective decisions for BPC in areas such as sponsorships, program development, event planning, staffing, and more.
As part of today's announcement, PlaceIQ is also releasing a new infographic that leverages the company's robust technology platform—with access to more than 10 billion daily location-enabled device movements—to provide a fun, high-level perspective on park visitors. Some key findings include:
- 19% of visitors live in Manhattan
- 16% of visitors are from outside the New York City area
- Visitors are 2x more likely to bank at Bank of America
- The average visitor is 50% more likely to visit Macy's and 2x more likely to visit PetSmart
"Location is a diverse data set with applications beyond advertising," said Anita Gandhi, vice president of consumer analytics, PlaceIQ. "By turning to PlaceIQ, and location data, Bryant Park Corporation has gained a unique understanding of its visitors that can be applied horizontally across their entire decision-making process. Similar to the innovative work we've done for travel and hospitality brands to help them understand audiences, BPC now has access to insights that provide a new perspective on consumer behavior. These are versatile insights that can be applied to not only enhance visitor experience, but also attract potential sponsors and improve operational efficiencies."
"Bryant Park is a premier destination for both locals and visitors to New York City," said Daniel A. Biederman, President of the Bryant Park Corporation. "We attract a wide range of visitors to events such as our Film Festival, cultural performances, fitness classes and ice skating, in addition to being a gathering place for friends or a respite from the busy city. As the volume of visitors to Bryant Park continues to grow, we remain committed to providing a park experience that appeals to everyone. PlaceIQ's ability to use location data for insights into demographics can inform decisions about future programs and activities that appeal to all."
PlaceIQ clients include the world's largest travel, destination and hospitality brands. For more information, please visit our case studies.
About Bryant Park Corporation
Bryant Park Corporation (BPC) is a not-for-profit, private management company and a cooperating business improvement district of neighboring property owners. It was established by Daniel A. Biederman and Andrew Heiskell, with support from the Rockefeller Brothers Fund. BPC was formed to restore historic Bryant Park, which had suffered a severe decline in conditions in the 1970s. A 15-year agreement was signed in 1988, entrusting management and improvements to the BPC. The park reopened in 1991 after four years of renovation with a budget six times the level under prior city management. It is the largest effort in the nation to apply private management backed by private funding to a public park, and it has been a success with public, press, and nearby institutions. BPC shares its management team with the 34th Street Partnership. The two companies share a management philosophy.
For brands seeking to understand consumer behavior, PlaceIQ connects physical and digital activities across time, space, and mobile devices to uncover opportunities to learn and connect with audiences. PlaceIQ is a powerful, location-based audience and insights platform that organizes a wide variety of consumer activity data around a targeted precise location base map at massive scale. PlaceIQ uses its detailed understanding of location and consumer activity to reach a targeted audience, and also to derive powerful insights about consumer behavior to inform market and business strategies for national brands. The company is headquartered in New York City and has offices in Palo Alto, Chicago, and Detroit. For more information, visit www.placeiq.com. Follow us on Twitter @PlaceIQ and like us on Facebook: PlaceIQ.