Indoor Location: Combatting the Billions Lost in Retail Walk-Out Sales
August 17, 2015 | Contributed by: Joe Morsello
With an estimated $608 billion lost in retail walk-out sales in 2014, retailers are utilizing technology to help encourage customer loyalty and engagement and facilitate sales. Driven by the mobile device, the indoor location space is at the forefront of this movement.
During last week’s webinar, Nathan Pettyjohn, CEO of Aisle411, defined the indoor location space as the meeting place of product location data, positioning technology and contextual content management. He provided a comprehensive overview of the space and shared real world examples of stores that are leveraging this technology today.
Here are some of the takeaways from the webinar:
- On average people check their mobile device 200 times per day (i.e. “mobile moments”).
- Engaged shoppers locally and in-store will drive more visits and bigger baskets.
- 73% of smartphone shoppers prefer to use their mobile for assistance in-store vs. an associate.
- $10B in consumer spending will be touched or directly affected by indoor location by 2018.
- Indoor location’s KPIs include: foot traffic, conversion rates, basket size, customer satisfaction and the impact of digital media/marketing on sales.
Check out the entire presentation below:
For access to all of our past webinars, visit http://bit.ly/LSAwebinars.