Retail tracking technology has been implemented more and more within several retailers, bringing a more accurate story regarding customer behavior! By knowing the amount of time that someone spends inside a store and leaves without purchasing something can help retailers learn what they are doing wrong to convert their guests into customers. Take a look!
Location-tracking technology can now monitor people so precisely that retailers know, for instance, which customers went inside a fitting room, but didn’t make a purchase. This information can then define where retail stores place their items to then increase their possibilities of closing a sale. Having the capability of having accurate information allows them to find solutions regarding their conversion rates which then allows them to turn a guest into a paying customer!
As a means to reach a bigger demographic, these retailers assess their information and follow up by providing custom ads on digital platforms such as Facebook and Google.
All in all, there are around 75 companies receiving anonymous location data, with almost 200 million devices being tracked in the United States. Some notable participants include Burberry, L’Oreal, Subway, and Budweiser!
Let us know how you feel about your in-store activities being tracked make you feel!