May 12, 2015
Swarovski rewards app
By Joe McCarthy
Whether through smartphones, iBeacons or other technologies, retailers are ramping up their ability to pinpoint consumers and tailor shopping experiences, according to a new report by Boston Retail Partners.
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Very insightful article, Joe. Thanks for sharing. I particularly liked the stat that says – 83% of retailers said that within five years they want to be able to suggest relevant products throughout the purchase journey and beyond. This is where beacons come into the picture. In fact, like you said, retailers all over have doubled down on their proximity marketing efforts by incorporating beacons at various points of their customers’ buying journey, including payments and loyalty programs. Another important fact that retailers need to keep in mind is that, merely deploying beacons won’t give retailers an edge. Retailers need to invest in data analytics and use this intelligence to drive conversions and increase revenue. For this, it is crucial that retailers have a solid understanding of the metrics involved in data-driven decision making. We have discussed in detail on what are the different metrics that brick and mortar store retailers need to measure to offer a better experience to shoppers here. It talks about various metrics to be tracked under various segments- right from customer path to loyalty and customer engagement: http://blog.mobstac.com/2015/05/beacon-analytics-in-retail-4-essential-metrics-for-retail