Who Would Pay For Indoor Positioning Services And Platform

Customer using Iiwari indoor positioning trolley

With the help of authentic indoor positioning, a digital leap can be taken in retail stores, with which the customer's boilerplate purchase increases, space direction improves and work in the store becomes easier.

Real data about customer behaviour in the store using indoor positioning

Retail indoor location information enriches traditional retail data in an unprecedented style. In improver to electric current door counters and cashier transactions, there is actually lack of recorded detailed data on customer behaviour. This changes when a tracking device is placed in a shopping cart or basket, the amount and value of information to be analyzed explosively increases.

The Finnish start-upwards company Iiwari Tracking Solutions brings high-precision positioning to stores, which provides data on the location of both the customer and the products. The utilize of an indoor positioning organization enables the real-time data collection of the number and behaviour of customers in a store: where customers go, how long they stay within a sure aisle or category, what do they purchase and how practice they react to campaigns. Enriching the data collected by the checkout system with location information opens upwardly a whole new chapter in the ability to evaluate shop performance.

Does in-store campaigns accept an touch on client behaviour? Now it will be institute out

Equally multiple studies testify nearly seventy% of the customers buy decisions are made at the shop.

Positioning information is valuable to the shop owner when the data reveals the real-time location of products and customers. If the analysis shows that a shelf space or product category is not alluring customers, the reasons can be adamant. The shelf space for the production might be bereft or there might be too much of it, the cost prototype may exist incorrect, or the selection may need to be inverse compared to the real number of visitors in the category. When a retailer has a information-based understanding of customer movement in a store, the store tin be developed based on information and the impact of changes tin can be measured reliably.

With the new service, suppliers receive vital information about the competitiveness of their own products on the store shelf. Based on the data it is known exactly how many customers accept visited the category. When this information is compared with the information obtained from the checkout organisation on what has really been sold from the product category it is easier to make decisions whether to take some products out or add them. The understanding grows, such equally how the appearance or placement of a product impacts the client and does the marketing campaign have result. For instance with new product launches the brand has little transparency on what happens in the shop; whether the product image appeals to customers, whether the location at the shelf is right, etc. particularly in a large scale and in multiple stores. Now, the verbal location of shopping baskets and carts allows this analysis to be made based on mass data and it is unique. Attractiveness, the importance of layout reform and price changes, and location-based advert materialize into information that is generated just when a customer encounters a product and makes a purchase decision.

The average basket size grows

The indoor location service adult by Iiwari will be deployed to x retail stores in Finland during October 2020. Tracking devices and tablets will be installed to the shopping carts and baskets. Tablets show the customer targeted ads of the products they are currently close to and enable product location search.

The effectiveness of location-based advertising is huge. At the 2019 Iiwari's Shopping Cart airplane pilot revealed that the average shopping basket of customers who used the shopping cart with tablets increased by 15%. Accuracy on location is important when targeting ad: the advertisement must be shown when the customers true position is adjacent to the product. If the advertisements are shown on the wrong aisle the advertisements will become more likely distractive.

Turning the shopping cart into a smarter one is only the i pace of the possibilities of indoor positioning in retail.

Shop owners can choose the services needed from Iiwari. Electronic shelf labels, employee locations regarding safety and locations of ordinarily used assets, precise product coordinates in stores, targeted advertisement for the desired product and indoor positioning in the store's own application are opportunities that will revolutionize retail digitalization, efficiency and customer behaviour, says Ville Kolehmainen, CEO of Iiwari.

How will the store and customers benefit from the new opportunities?

One measurable advantage for the store owner is the faster collecting process of the online orders which at present take due to Covid-19 increased dramatically. Collecting products on behalf of customers is an increasingly pop service, which, however, increases costs, i.e. takes off time from employees who are away from other tasks.

Iiwari's indoor positioning service enhances collection past knowing the locations of both the Collector and the products. The application tells the collector what is the nearest production to be collected and thus the collection is faster. There can exist several orders in collection at the same time and the collection time is halved – the price for collecting decreases per handbasket.

The products are easy to notice

In one case the coordinates of the products are known, the store'south ain employees, collectors and customers tin easily find the product they are looking for. For example, on a tablet attached to a shopping cart, a customer can tap the name of the product they are looking for and display the exact location on the store map. Client satisfaction increases and the shopping experience is pleasant when the products are easy to detect.

When UWB enters widely to mobile devices during 2021, the retail chain can also utilize location information in its mobile applications and offering product route guidance and targeted advertisement directly to the customer's own device.

Electronic shelf labels have already entered a few pioneering stores. Here, too, Iiwari's technology goes a step further, with shelf labels telling the verbal location of the product.

Location data of employees and collectively used equipment

The shop employee tin carry the location bluecoat with him/her in the store, for example in a keychain, then he/she tin can exist easily reached if necessary. The tablet attached to the shopping cart, the digital screens of the store or retailers application may have "blue dots" indicating the location of the closest employee available. In the upshot of an evacuation, the location system is a security measure to ensure that everyone is safely out of the building.

When the location of cleaning equipment or forklift is in realtime known the time is saved from looking for it. Indoor positioning equally a part of stores digital fingerprint is essential part of customer and employee rubber and satisfaction.

Piece of cake installation and competitive price

Iiwari uses Ultra Wide Ring (UWB) technology based on radio signals in its patented indoor positioning solution. Technology is coming to mobile phones as well.

Iiwari offers turn-key service with a SaaS model. The delivery includes the necessary UWB network, base stations and positioning devices. The system is mostly wireless, so installation is quick and easy.

– I have been working for the past 10 years with multiple commercially available indoor positioning methods. Positioning based on Iiwari's UWB engineering is the only arrangement available for retail that meets the strict requirements of accurateness, reliability, scalability and cost structure. We are constantly seeing more than positive opportunities in indoor positioning. With the help of location data, retail is entering a new digital era, where efficiency and customer satisfaction is on level never seen before, Kolehmainen says.

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