That, I guess, would kill it, were it enabled by default or not easily turned off. Some people may like being shoved ads in their faces, but others hate it. I personally would happily switch to another store if they were to start push-spamming me.
If the location is not accurate enough, you can tie it to a Wifi point of the business (the Wifi doesn't even need to be open). And it doesn't need to use Bluetooth at all (which I always leave off on all my phones until I really need it as it consumes a lot of battery).
Given the fact that the Facebook app is already installed anyway on literally any phone, they could pull this off right away. This is what Foursquare should have done years ago to survive.
[1]: https://gigaom.com/2012/08/17/how-much-better-is-gps-over-wi...
I'm not saying one doesn't exist. I'm genuinely curious whether one does.
In both cases, it's the client device (smartphone, tablet, etc) that's doing the collecting.