BEACONS BECKON

Beacon technology is remapping how shopping center owners and retailers engage with their customers. PREIT is the latest owner to adopt the beacon-based advertising service, by partnering with Mobiquity Networks, at its premier malls. Earlier this year Macerich announced its expanded partnership with Mobiquity by adding the technology to more of its centers. The beacon technology utilizes location-based data from common areas in-mall and provides advertisers with the opportunity to deliver targeted advertising to mall shoppers at precisely the right place and time — just as they are deciding which retailers to visit and what brands to buy. These advertisers have the potential to influence more than 3 billion annual shopping visits, where consumers are spending over $310 billion annually. — Melonie Messina