Walkbase announced the continuation of rapid growth in Q2, resulting in a record number of roll-outs of its solution in more than 200 retail stores during the first half of 2015. Walkbase is expecting to more than double its expansion during the latter half of the year.
"It's fantastic that three of the UK's top five grocery chains are now using our solution", said Tuomas Wuoti, CEO of Walkbase. "Brick-and-mortar retailers are often tied to lengthy property leases, making the optimisation of layout of existing stores pivotal to success. Through real-time customer behaviour analytics in physical stores, retailers are now able to optimise and commercialise their stores in new ways, to boost revenues and prevent closures."
In-store data sources have traditionally been limited to point-of-sale data and door counters, while expensive one-off studies have been set aside. Many physical stores are blinkered in their efforts to try and understand customer behaviour in-store. Getting in-depth insights has required heavy customer behaviour studies, often requiring a tailored and very expensive approach to data analysis. This has made it slow to react to changes in day-to-day store operations and marketing, and is often unattainable for specialist retail needs.
By deploying Walkbase Analytics, retailers are able to take a new, data-driven approach in optimising their stores and marketing real-time - layouts, assortment, merchandising, window marketing, and campaigns. This helps retailers create a seamless shopping experience for customers as well as increasing their competitive edge in a crowded market.
Wuoti continued: "We have practically reinvented the way conversion is being measured on the high street. We can detect in real-time how many people are passing by, how many enter a store, where they go, how they are engaged, and most importantly how many end up buying. This essentially revolutionises the way high street stores can be managed."
Walkbase Analytics takes advantage of stores' existing Wi-Fi and other in-store technology to provide detailed information on customer's behaviour in physical stores, real-time. This enables retailers to plan and evaluate how their business is affected by changes in format and merchandising, and how events and campaigns drive footfall and loyalty.
Source: Walkbase
