ABI Research’s report, “Retail Customer Analytics: Technologies, Markets, and Revenues”, has forecast all major analytics technologies across 10 major retail sectors. Traditionally this market has focused on footfall/people counting and queue management, largely based on thermal imaging and camera analytics technologies. New smartphone-based technologies will work in synchronization with existing systems, enabling a much higher level of analytics including pathing, dwell times, repeat customers, and aisle-level product interaction. In turn, this will form the basis on which to build highly personalized shopping experiences, rewards programs, and offers/coupons.
“A range of indoor location and smartphone-based analytics technologies and tools have emerged based around Wi-Fi, Bluetooth, small cells, 3D motion sensing, etc.,” comments senior analyst Patrick Connolly. “For retailers looking to develop shopper marketing strategies, stave off online retail/showrooming, and maximize brick and mortar revenue, these tools are essential. As a result, we see the analytics market growing to over $3 Billion by 2018.”
Practice director Dominique Bonte adds, “This is a fascinating market with large incumbents and local players now coming up against new technology start-ups as well as major companies like Google, Cisco, etc., while at the same time retailers are finally awakening to the benefits of in-store analytics. The companies that can adapt and successfully combine these technologies are best placed to win. Those that stand still will die.”
These findings are part of ABI Research’s Retail Technologies Research Service, which includes Research Analyses, Insights, and Competitive Assessments focused on the indoor location market.