Brick and Mortar (B&M) Retailers like Sears, Best Buy are struggling to compete with Online Retailers. B&M are nowadays becoming spot for just "SHOWROOM'ING" products. Customer go there to look-and-feel the product and but they buy online.
Research show that in more than 70% of transactions, consumers visit B&M stores look at the products and buy product online, thereby hurting sales for B&M very badly.
Solution: -
We are developing product that will provide In-Location targeted and time specific pricing and/ or coupons to captive consumer, while he/ she is standing in front of the department/ aisle/ product category.
Solution Description: -
- We are using BLE technology based Beacons to divide the retail store into different departments or categories
- Each Beacon will be unique and tied to particular category or set of items
- This will be done by store associate based on our software
- Based on GeoLocation, we will send consumer either proximity or welcome notifications
- When consumer comes close to the department (or category), we will send him/ her In-Location targeted specific pricing for the items based on Big Data Analytics (Browsing history, Account information etc.)
- InstaDeals will be specific to what consumer has been looking to purchase or likely to purchase and will time specific that will expire in less than 30 mins
- InstaDeals will specifically be used for creating deals for aged inventory by B&M stores, before they go to the liquidators
- InstaDeals will be used for in-store consumer tracking and further used for behavior analysis
Giving relevant deals to the captive audience right there in the store department will prevent B&M stores to lose sales to the online retailers.
We plan to take this forward, complete and implement the solution!
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