On Monday, indoor positioning company YFind Technologies rolled out an innovative new solution for retail that has plenty of marketers and businesses buzzing today.
How can brick-and-mortar retail store managers get the same kind of detailed insights into the shopping behaviors of their customers that online sites can get from Web analytics, the company asks in a press release this morning?
YFind Technologies claims to have the answer with TheRetailHQ, which is hailed as “a unique, first-of-its-kind shopper analytics dashboard powered by YFind’s patented, highly-accurate indoor positioning system.”
Indoor positioning technologies open up a whole new world of data-based insights into consumer shopping behaviors. Within the store analytics is what makes TheRetailHQ unique. Alternative solutions provide in-store analytics, however, TheRetailHQ accurately pinpoints a shopper’s specific location inside a store.
“Furthermore,” today’s announcement reads, “to achieve this, shoppers are not required to download an app. In other words, TheRetailHQ offers ‘zone level’ tracking, that provides deeper analytics through the use of ‘zone-to-zone’ or ‘section-to-section’ tracking.”
All told, this innovation comes at a great time for the industry.
ABI Research finds that the market for indoor positioning, real-time location analytics and SoLoMo (social-local-mobile applications) in location-based marketing has been growing rapidly and will reach $5 billion by 2018.