Optimise Retail Stores with Walkbase Retail Solutions

APAC Retail Analytics Market Outlook

Amidst the current uncertain economic climate, there is a critical need for retailers to monetize their data and unlock valuable insights needed to adapt to rapidly changing customer preferences, re-engage with customers and future-proof their business.

Retail analytics provide retailers with useful insights into user behaviour and shopping trends and patterns, helping them drive better merchandising strategies to influence purchase behaviour, improve customer service and boost sales.

The Asia Pacific Retail Analytics market is expected to grow from 2021 to 2026 with a CAGR of 23%, with rising income levels, heightened spending on data and analytics, and increasing demand for automated retail-based services expected to stimulate this market in the region. Secondary factors fuelling market growth are the increasing adoption of IoT devices and the growing user base of smartphones and the Internet.

Leading Global Brands Leverage Retail Analytics

Sephora has deployed video analytics technology to monitor customer behaviour in real time. The brand uses AXIS cameras to track customers and their movements in the store. This helps the brand to plan a cohesive marketing strategy based on the results.

In May 2021, Walmart implemented the RetailAI® Fresh solution in select stores in China, which uses artificial intelligence to automate the recognition of fresh produce products when customers put them on self-service scales. This novel solution streamlines the self-service shopping experience and helps customers save time, all while lowering Walmart’s operational costs.

Key Components and Benefits of Walkbase TREQ

• Walkbase Occupancy: Real-time occupancy management and COVID-safety compliance

  High accuracy, 3D sensors are installed at the entrances/exits of retail stores to track footfall and ensure that only the permitted number of shoppers are allowed in the store. Email and push notifications are sent to staff to alert them when stores are close to capacity thresholds.

  With real-time tracking, retailers can reallocate staff from entrance/exit counting roles to meaningful store operations and customer service tasks during peak periods.

• Walkbase Queue Analytics: Minimise queues and improve the customer experience

  Track the customer checkout journey in detail and in real time, using sensors and 3D cameras. Minimise queue times, increase customer satisfaction and improve operational efficiency and staffing.

• Walkbase Merchandising: Improve sales with better merchandising strategies

  Analyse customer behaviour at high-value demonstrations and end caps using sensors and asset tags. Implement effective merchandising strategies by making data-driven decisions on product assortment, placement, and promotions.

• Walkbase Traffic: Increase conversions by optimising pathing and dwell time

  Accurately track the movement and location of shopping carts to analyse cart utilisation and shopping behaviour. Deliver cost effective, precise and scalable asset-location monitoring services to reduce theft. In addition, optimise staffing by monitoring staff movement in relation to customer flows.