Best Practices For Retail Location-Based Technologies
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The document discusses best practices for using location-based technologies like beacons in retail. It describes how Point Inside helps retailers implement these solutions by providing tools to digitize floor plans, deploy beacons, and monitor their performance. It also presents a case study of how Nebraska Furniture Mart used Point Inside's platform to implement beacons and mobile wayfinding across their large Texas stores, resulting in increased traffic, revenue, and sales.
Best Practices For Retail Location-Based Technologies
- 1. #RIC16 Best Practices For Retail Location-‐ Based Technologies Lee Summers, Marketing/Technology Manager, Nebraska Furniture Mart Aaron Dane, Retail Experience & Innovation Manager, Point Inside
- 2. #RIC16 Point Inside 2 About Point Inside Fin d It HAVE IT? DO YOU I FIND IT? WHERE CAN
- 3. #RIC16 Point Inside Confidential 3 Retailer data layer Points of interest Shopper mobile map Geospatial coordinates Store CAD Importance of Location
- 4. #RIC16 Point Inside 4 Why Beacons? § Connection between mobile and physical § Multi-‐platform technology § Low cost § Benefits to shoppers and store ops § Enterprise decisions § Shopper behaviors § Merchandising decisions § Dwell or wait times § Shopper segmentation
- 5. #RIC16 § Start small and master the basics: § Make your shoppers’ lives easier § Simple and elegant always wins over complexity Point Inside 5 Shopper Experience
- 6. #RIC16 Point Inside 6 Shopper Value Location Permission Retailer Shopper Value Exchange
- 7. #RIC16 Options § Partnership and outsourcing § DIY Things to consider § Digitize your space § Establish deployment templates § Web-‐based planning tool § In-‐store deployment app § Health & system monitoring Point Inside 7 Scaling
- 8. #RIC16 Point Inside 8 Analytics & ROI
- 9. #RIC16 Case Study Nebraska Furniture Mart -‐ Texas
- 10. THE EXPECTATION Transplant the NFM brand and be the anchor of something great. Beacon technology, and by extension IoT, is an incoming tide in retail that will raise all ships including business intelligence, shopper experience, opex and associate productivity. Joe Saumweber
- 11. THE STORE 92% of all NFM TX sales take place in the store. 2017 Revenue projections place our 3 major stores at just under $2 billion annually.
- 13. #RIC16 THE STORE IS STILL THE STAR 94% of all retail sales take place within the confines of a physical store. * The New Digital Divide, Deloitte Digital, Physical store sales calculated using U.S. Census Bureau Quarterly Retail, E-‐Commerce Sales, 4th Quarter 2013
- 15. THE CHALLENGE 560,000 Square feet of retail space. Just under 2 million square feet total (Distribution Center 1.3)
- 16. #RIC16 Attention & Awareness Consideration & Engagement Assisted Shopping & Enhanced Experience Optimized Sales at the Moment of Truth The New PATH TO PURCHASE Brands must now use a CUSTOMER-CENTRIC model
- 17. § Define Success § Design Solution § Test & Learn § Optimize & Scale Self-Service + Assisted Sales Promotions + Sales Lift Brand Storytelling Customer Experience OBJECTIVES DRIVE DESIGN For In-Store Digital Media Employee Productivity
- 18. #RIC16 Technology Toolkit We apply the best technology to meet the objectives. Digital Signage Mobile/Tablet Apps Video Walls Touch Interfaces
- 19. #RIC16 Emerging Technologies We utilize the latest in technology to create engaging experiences. Video Analytics Projection Mapping Beacon Technology RFID/NFC Technology Gesture Interactive 3D Audio Large LED Board Transparent Display Virtual Reality Plus More …
- 20. THE BEACONS 400 proximity beacons. Full coverage grid. Primary function: Mobile Product Way-‐finding, In-‐store Digital Signage, Product Way-‐finding 1st Floor
- 21. THE ROUTES 250,000 SKUs available at anytime. Live routing to product searches on Mobile and Digital Signage Directories. 1st Floor
- 22. THE MEASUREMENTS 180,000 logged session in the first 12 months. Estimated $500k in media placement revenue. Product level search and regional sales flyer product routing.
- 23. THE MEASUREMENTS Traffic to our mobile site was up 50% in Q1 and revenue is up over 100% Q1 2015 vs Q1 2016. Our app uses our mobile site to power the ecommerce functionality.
- 24. THE PRICE TAGS 39,000 digital price tags changed daily. Without this system our way-‐finding experience would not work properly. This was our first step towards committing to a long term beacon roadmap.
- 32. #RIC16 Thank You Aaron Dane Retail Experience & Innovation Manager Point Inside aarond@pointinside.com Lee Summers Marketing Technology Manager Nebraska Furniture Mart / Grandscape lee.summers@nfm.com
- 33. #RIC16