In 2013 retail technology news was stirred up - Apple introduced Beacon technology. Since then it has come a long way, been improved and upgraded several times, and finally, was valued at $519 million in 2016 and predicted to reach $56.6 billion in 2026. Nowadays, beacons are being actively implemented not only in retail but in-hospital patient tracking, intelligent agriculture, museums, banks, hotels, and many more. These are small budget hardware sensors that are installed within the store. The new retail technology transmits messages directly to user devices through wireless Bluetooth Low Energy communication. As customers move inside the store, they receive targeted information about discounts, new arrivals, and create shopping lists that include identification of the items’ availability and their location in the store. Here are the examples of implementation of this innovative retail technology:
- Elle magazine delivers push notifications to their readers offering editors’ picks when they’re close to the stores that sell their magazines. Such a deployment across American malls has resulted in 8.5% of visitors that visit promoted stores.
- Finnish chain K-supermarket uses innovations in retailing to remind their customers about items that they might have forgotten to add to their shopping list. For example, if there is coffee on your shopping list, you’re likely to get a reminder about milk. The analytics has shown that 25% of shoppers buy the product they receive a notification about.
- Macy’s - one of the oldest US retailers, that has implemented beacons in 2014. When a customer opens an app they get a reminder about brands they have recently liked, or searched for.
According to the report written by Proximity Directory, 75% of US business owners have already implemented beacons in their technology retail stores. What are you waiting for?