The leader in location based networking, Foursquare, may still be relatively small with 8.5 million members (which is of course not the same as regular users), but there is a good reason why marketers are interested says ClickZ: They buy stuff. And lots of it.
In fact, US electronics retailer Radio Shack claims they spend 3.5x as much money as non Foursquare users. According to Radio Shack’s social media director Adam Parker, foursquare users will generally buy higher priced items, which makes them extremely valuable to retailers as many prefer to sell fewer big money items than deal in volume.
Parker says Foursquare users are “more tech-savvy, they’re younger and they have a higher disposable income.” As a result that makes them more interesting for an electronics retailer as they are in the market for the latest gadgets.
Radio Shack has 28,000 Foursquare followers. Looking at Foursquare brands, its surprising how many brands do have large numbers of followers. Top in terms of retailers is Starbucks with 47264.
Foursquare users as of 9pm, 12 April – 8,566,370
As a result, I now know that as of 21:00 London time on 12 April (4pm EST), there were 8,566,370 users with Veronica S from Racine Wisconsin being the latest person to sign up.
- Radio Shack Says Foursquare Users Spend 3.5X More (clickz.com)
- CHART OF THE DAY: Foursquare Users Doubled Since Facebook Launched Places (businessinsider.com)
- Foursquare: Profitable Business Tactic or Waste of Time (mnprblog.com)