NRF 2016: Omnichannel Must Have Omnimeasurement
Welcome to the opening day of Retail’s Big Show (NRF 2016) and the latest in retail thinking and technology for an industry worth over $4 Trillion USD worldwide.
A quick scan of the agenda, booths and conversations show a recurring theme: omnichannel, or the desire to sell to customers across online, mobile and brick-and-mortar, is still a key need and desire of retailers, brands and the shoppers they serve.
What’s interesting to me though, is the lack of focus by retailers and brands on understanding these shoppers along the path to purchase, across online and store channels. Adopting an omnichannel strategy mandates a need to understand shoppers, not only online, but also in-store. And therein lies a massive black hole that most retailers and brands have not successfully penetrated despite the huge advances in technology and research.
A stat we give out all that time, that shocks people, is that 91+% of all dollars, pounds, yen and other currencies worldwide in the $4T retail industry is spent in-store. And it’s crazy that for a market of that size, brands and retailers are still blind to understanding and influencing shoppers in-store in real-time.
InReality is changing all of that. For over 20 years, InReality has worked to better connect brands with shoppers in retail. And, we have recently launched a beta offering for brands and retailers that provides a level of omnimeasurement critical for understanding and influencing shoppers as they enter brick-and-mortar.
You can now measure:
- The number of visitors who enter a store broken down by time of day
- Traffic maps and footpath maps of these visitors as they move about the store in order to determine where shoppers go and how often
- Brand-level analytics including:
- the number of visitors that walk by the brand
- the breakdown of male/female visitors
- a breakdown of age of visitors
- dwell time around the brand
- attention time as a % of dwell time
- view time on digital content in-store (e.g. advertisement)
- engagement time and depth of engagement for any touch-screen deployed in-store
Additionally, with InReality’s solution, you can trigger digital content in-store based on presence and gender of shoppers to deliver a unique in-store customer experience. And, if you know that a particular advertisement plays well to female shoppers online, you can now trigger that content in-store, when a female shopper approaches the display, and understand how well it works by measuring the attention time exhibited each time a female shopper is present and the ad is playing.
With this level of understanding, you will have an unprecedented view of what shoppers are doing in-store, and also who shoppers are by gender and age. You can now compare online behavior to in-store behavior. What is the busy hour/day for traffic between online and in-store? What is the impact of a new television advertisement on both? What about an online campaign? How does the gender/age of online shoppers compare to in-store and how does that drive proper marketing spend? How can we take these findings and design meaningful changes to the in-store experience and measure the effect of these changes?
InReality is offering actionable insights in the most-heavily trafficked and converted channel—brick-and-mortar retail. And, with this data in hand, InReality can help you design new in-store experiences (both traditional or digital) and measure the results in real-time. This is one of our key values versus other companies that only give analytics with no understanding or ability to change things and turn data into action and ultimately results. For 20 years, we’ve designed traditional and digital elements in-store to help drive desired shopper behaviors. We’re now adding a key element to understanding shopper behavior before, and after, in-store changes to ensure that you really drive the behavior you’re looking for in-store.
To adopt and run omnichannel marketing and sales, it’s critical to understand and influence shoppers online and in-store. InReality is making in-store retail smarter by providing the tools brands and retailers need to understand shoppers and then influence them with dynamic digital campaigns in-store.
It’s time for brick and mortar retail to get smarter, and with InReality it’s possible.
Retail Analytics: Understanding the Options
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