While retail is often one example used when people discuss the applications of iBeacon tech, Shaftsbury Square is a real-life instance of this occurring. The mall in Malaysia installed dozens of beacons, enabling every retailer in the venue to be able to send deals and discounts directly to the smartphones of shoppers.
In addition to customers receiving access instantly to promotions, iBeacon tech also gives stores fast feedback. Tide Analytics Founder Ivan Loh Kah Lun explains that even though cell phone signals are encrypted, they are still able to tell how many people pass by the store compared to the amount that actually go in. He also notes all personal information is safe, as all data is deleted afterwards. "Only summary information is passed on to our clients" he says.
Analytical Retail Beacons
Shaftsbury Square's Use of iBeacon Tech Also Offers Feedback for Shops
Trend Themes
1. Retail Ibeacon Technology - The rise of iBeacon technology creates opportunities for retailers to connect with customers more personally and increase sales through targeted promotions and deals.
2. Data-driven Feedback for Retailers - iBeacons offer retailers fast and easy feedback on customer behavior, enabling them to optimize store layouts and promotions to increase sales.
3. Privacy-safe Analytics - The use of iBeacons for analytics purposes assures customers their data is being kept secure by only providing summary information to retailers.
Industry Implications
1. Retail Industry - The retail industry can utilize iBeacon technology to create personalized experiences for customers, optimize their store layouts and promotions, and increase sales.
2. Technology Industry - As iBeacon technology continues to gain popularity, it presents opportunities for the technology industry to innovate and create more advanced devices with enhanced capabilities.
3. Analytics Industry - iBeacon technology creates new opportunities for the analytics industry to create meaningful insights for retailers using real-time data analytics and machine learning algorithms.