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Latest news and insights on consumer behavior in the offline world

The Big Deal With Big Data and Retail IoT

Posted by Rolando Kahn on 5/11/15 12:52 PM

IoT and big data improve in-store customer experienceThere was once a simpler time when all retailers needed to worry about was generating enough buzz to keep bringing customers in the door. Nowadays, with the increase in technology, it’s become inevitably more difficult to attract and maintain loyal customers.

A recent OnWindows article titled “Realising The Value of Data Analytics: Bringing Big Data and IoT Together,” states that, “the elements that previously differentiated brands have become commoditised and most retailers face minute-by-minute competition from many brands of greater sizes, so they must find new ways to foster brand loyalty.” Clearly, if businesses want to keep consumers’ attention, they must adapt to the new ways in which consumers are finding and purchasing their products.

Enter IoT (Internet of Things) technology; Ergo, day-to-day objects like calling bells, cars, and appliances that connect to the internet. Armed with items such as wifi, Bluetooth, smart lighting and smart energy, and now floor sensors, retailers are rapidly changing course to remain in the competition for customer loyalty.

Through IoT technology, brands can tell what the person wants without having to ask. Predictive analytics and visitor tracking have all made it easier to deliver specific deals and promotions right to the customer. It also enables quicker staff reaction to questions and an overall more individualized in-store experience. Businesses know exactly how valuable these tools are and will be for future plans and campaigns.

It can all sound complicated at first, but for retailers, the basis of IoT and big data is to allow brands to get a better grip on how their customers interact with not only the product, but the in-store experience as well. In today’s market, people are looking for a great experience just as much as a worthy product, and big data and IoT have arrived to boost these opportunities.

An article published on trafsys.com says, “78 percent of consumers are more likely to be a repeat customer if a retailer provides them with targeted, personalized offers.” This is where big data and IoT are the most useful to retailers. These tools create the bridge to knowing what people are looking for both online and offline, market trends, and customer habits. It’s no wonder big data is becoming such a big deal.

About Scanalytics
Scanalytics is among the top 10 fastest growing “Internet of Things” companies, measuring human behavior insights through intelligent floor sensors. The SoleSensor platform translates consumer foot traffic into actionable data through a dashboard interface for real-time and historical viewing of trends in physical spaces. Using the floor sensor technology, brands capture and analyze occupancy, traffic patterns and engagement times to increase conversions and improve ROI.

With over 10 million impressions to date, Scanalytics has deployed SoleSensors across the United States, Canada, Mexico, Europe and Southeast Asia. Learn more at: www.scanalyticsinc.com.

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Topics: Industry News, Technology