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Leveraging Retail Insights by using Beacon

April 25

The striking rise of beacon-based technology in the last few years has allowed more and more retailers to experiment and discover use cases for micro location and proximity engagement that was never possible before.

Forbes stated in one of its articles that beacons as a trend might be dead in 2017. On the contrary, proximity marketing experts took it into a different situation. According to the article, one of the reason why beacons are predicted to see a drop in 2017 is because of their dependency in app adoption. And the second reason is beacons provide the micro-level data that most retailers fail to benefit in this competitive world. Moreover it was also stated that the retailers who are able to integrate online and offline shopping journey may come out as clear winners in 2017. Beacons connect the offline world with the online. Thus, it holds a great potential as they help brands to gain deep insights on consumer  preferences and behaviors.

We can equip retailers with advanced analytics to gain the insights into the rising change in consumer behaviour. Let’s have a deep look about how retailers can leverage analytics to employ data-driven approach to measure the customers behaviour.

Creating maps from the consumer activity to improve retail store layouts

Retailers can design the store layouts. It responds to the requirements of customers by deploying the right mixture of Wi-Fi, Bluetooth and beacon. The hardware also tracks the location of the retail customers once they enter into the store, browse and complete their shopping. Maps can help retailers to identify the common walking paths for customers as they enter into the store.

Mapping is also ideal for tracking products or services that customers are willing to have. Once the data is on hand, retailers are able to understand the customer experience better in their own store. Accordingly they can redesign to make the entire store feel more accessible to users.

App Features can be helpful to gather valuable purchasing data

Shopping lists within the app can also act as a source of shopping data. For an instance, cross referencing the shopping list with the actual products purchased at the end of the shopping trip can provide deeper insights into the shopper decisions. Even the target can be provided by sending notifications and coupons.

Proximity-based marketing collects real time feedback

Beacon makes easy for the customers to ping for customers feedback directly as they approach to any popular product or pass by new marketing display. Notifications alerts collects first impressions instantly. Adjustments are made to reflect the customer’s responses. Even, by rewarding the customers with small bonuses or incentives after they respond, retailers can fortify the value of beacon technology and can also encourage more customers to use such services.

Are you a retail customer or you need right solution for your retail shop? LetsNurture is always looking forward and is ready to assist you. Get in touch with us.