Walkbase, the provider of in-store analytics for airports, malls and retail stores, today announced a record number of in-store roll-outs of its customer analytics solution in a quarter, totalling around 200 new stores. This was partly achieved as a result of almost one new retail brand signing up to use the technology per week, resulting in more sales than Q1 and Q2 combined and 700% year-on-year growth.
“This is a staggering rate of growth over one quarter and we’ll look to continue this momentum into next year”, said Tuomas Wuoti, CEO of Walkbase. “It’s no secret that ecommerce has lead the way when it comes to understanding customers, but our technology is allowing traditional bricks-and-mortar retailers to fight back. They are realising the importance of understanding customers’ movements and how this insight can be used. Our technology is helping retailers not only improve their instore experience, but maximise the revenue from existing store space. This is particularly important in the build up to Christmas.”
In-store data sources have always been a long way behind ecommerce when it comes to understanding consumer behaviour on the shopfloor. Traditionally, they would rely on point-of-sale data, camera based counting or expensive behavioural studies to analyse behaviour. This has made it hard for retailers to react to changes in in-store customer activity, adapt the store to meet the needs of the shopper and understand the real value of the space in terms of advertising revenue.
By deploying Walkbase’s solution, retailers are able to anonymously analyse customers’ in-store movements and make marketing and store layout decisions based on real-time data. Examples include analysing which parts of the store are not being used effectively, advertising hotspots, queuing times, dwell times and conversion from e.g. fitting rooms to tills – all important information to give them the competitive edge in a crowded marketplace. All this information is visualised on an easy to use dashboard.
These analytic techniques have extended Walkbase’s offering to airports, where understanding passenger flows is also important to maximise the return on floor space. The new Airport dashboard provides an insight into how fast people move through security and across to the gate, as well as which routes they take, for example. This knowledge is then used to manage queues more efficiently and sell prime advertising space based on tangible data, therefore helping to maximise airport revenue.
Key elements in the Walkbase Airport Dashboard include:
– The passenger transition funnel showing footfall and conversions between land side, air side, security, border control, shopping, and gate areas.
– A reporting matrix to understand how fast people are arriving to gates, and which routes they are generally taking
– The queue management tool released already in March 2015 [link]
– The dashboard also includes standard features of the Walkbase retail dashboard such as: heat maps, zone analytics, paths, dwell times, comparison tool, import campaigns & events, location based customer engagement.
Wuoti continued: “We’ve seen the technology be applied in many different situations, showing the versatility of the software. It opens up new opportunities for all privately-owned public environments by making personalised marketing far more obtainable.”
In the same quarter Walkbase announced a partnership with a leading electronics and digital screens manufacturer, Samsung. The joint proposition brings together Samsung’s in-store digital signage and Walkbase’s in-store analytics technology to offer retailers a complete augmented advertising solution.