TimmyHTracking Shoppers with ShoppingTrip 360
August 7th 2008 06:11
Infosys has created a method of tracking consumer traffic and inventory in real time that could save the retail industry more than $100 billion. Wholesalers and consumers that sell through products, like Proctor and Gamble, spend at least this much money every year to promote their products. These costs get items placed at eye-level in shops or secure special individual displays. But despite also paying a huge number of checkers to keep track of this method’s effectiveness, data is difficult to come by.
George Lawrie of Forrester says that "Stores make lots and lots of mistakes.” He notes that at many retail stores, the kids who stock the shelves have almost no interaction with the companies that make the promotional deals.
"In the big brands, the CFOs know they've had to hand these funds over to be eye level on aisle number one, and they don't know if it's really happening, and they're beginning to start to ask if the stores can prove it,” says Lawrie.
The new innovation is known as ShoppingTrip 360 and will be used by all Infosys clients which constitute 12 of the top 20 retailers worldwide. The hosted software application is able to track shoppers and stock by using wireless sensors that are to be placed in shelving, shopping trolleys and promotional displays.
The sensors connect to one another through a meshed network and use a wireless 802.15.4 protocol. They can track where shoppers are in the store, what they pick up and put back and the amount of stock on the shelves. Infosys has also developed mobile technology which lets shoppers keep track of store maps and what’s on the shelves.
"This, we believe, is the next wave of innovation in the retail space," says Infosys cofounder and CEO S. "Kris" Gopalakrishnan. He describes the system as being an In-Store Internet. Retailers like Wal-Mart and Target in the US were the first to push radio frequency identification (RFID) to improve data recall in the 90’s. But the technology involves chips and is far too expensive to be practical. Also, RFID raises privacy concerns on a wide scale which Infosys claims are avoided by ShoppingTrip 360. What’s more, Infosys says it will pay for the installation of all sensors.
"I'm charging to tell them when stocks are reduced by a certain percentage, or when a consumer redeems a coupon through their mobile phone," says Sandeep Dadlani, global head of sales for Infosys's retail unit.
Pricing for data collected has yet to be determined, but Gopalakrishnan says that setting up the sensor system is no more difficult than installing a wireless router in your house.
The system will off three main services:
“Heat Maps” that will show level of stock in the store and concentrations of shoppers
“Smart Shelf Pad” powered by the store’s lights
“Shop by Phone” options which help shoppers navigate the system
They have also suggested that the system could be employed to provide shoppers with a “perpetual checkout” allowing them to check the total price of their cart with their mobile. The company is also proposing “smart mirrors” that will choose clothes for fashion shoppers.
Lawrie says that until the system undergoes extensive trials its still too early to say if it will be effective, but if it is "this would be a huge breakthrough."
Really Long Link
George Lawrie of Forrester says that "Stores make lots and lots of mistakes.” He notes that at many retail stores, the kids who stock the shelves have almost no interaction with the companies that make the promotional deals.
"In the big brands, the CFOs know they've had to hand these funds over to be eye level on aisle number one, and they don't know if it's really happening, and they're beginning to start to ask if the stores can prove it,” says Lawrie.
The new innovation is known as ShoppingTrip 360 and will be used by all Infosys clients which constitute 12 of the top 20 retailers worldwide. The hosted software application is able to track shoppers and stock by using wireless sensors that are to be placed in shelving, shopping trolleys and promotional displays.
The sensors connect to one another through a meshed network and use a wireless 802.15.4 protocol. They can track where shoppers are in the store, what they pick up and put back and the amount of stock on the shelves. Infosys has also developed mobile technology which lets shoppers keep track of store maps and what’s on the shelves.
"This, we believe, is the next wave of innovation in the retail space," says Infosys cofounder and CEO S. "Kris" Gopalakrishnan. He describes the system as being an In-Store Internet. Retailers like Wal-Mart and Target in the US were the first to push radio frequency identification (RFID) to improve data recall in the 90’s. But the technology involves chips and is far too expensive to be practical. Also, RFID raises privacy concerns on a wide scale which Infosys claims are avoided by ShoppingTrip 360. What’s more, Infosys says it will pay for the installation of all sensors.
"I'm charging to tell them when stocks are reduced by a certain percentage, or when a consumer redeems a coupon through their mobile phone," says Sandeep Dadlani, global head of sales for Infosys's retail unit.
Pricing for data collected has yet to be determined, but Gopalakrishnan says that setting up the sensor system is no more difficult than installing a wireless router in your house.
The system will off three main services:
“Heat Maps” that will show level of stock in the store and concentrations of shoppers
“Smart Shelf Pad” powered by the store’s lights
“Shop by Phone” options which help shoppers navigate the system
They have also suggested that the system could be employed to provide shoppers with a “perpetual checkout” allowing them to check the total price of their cart with their mobile. The company is also proposing “smart mirrors” that will choose clothes for fashion shoppers.
Lawrie says that until the system undergoes extensive trials its still too early to say if it will be effective, but if it is "this would be a huge breakthrough."
Really Long Link
| 41 |
| Vote |
subscribe to this blog
