The growing potential of IoT-based RTLS solutions like Proximity Marketing in the Retail Sector

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IoT-based RTLS solutions like Proximity Marketing (1)

The growing popularity of mobile devices is gradually changing the entire retail industry. In addition to this, the way retailers market their products have also seen a huge shift by focussing more on smartphones and the way people interact with them in their daily lives. 

According to Forbes, 86 million consumers made purchases on their mobile devices in 2016, and 96% of consumers used their smartphones to find the best available offers.

To tap this enormous potential, IoT-based RTLS (real-time location systems) solutions like Proximity Marketing has been witnessing massive growth due to their versatility of ease-of-use.

What is Proximity Marketing?

Proximity marketing is a new and novel way of marketing that uses location-based technologies like Bluetooth Low Energy (BLE) and Ultra-wide Band (UWB) to target customers with personalised ads and communication based on their proximity with and within the retail store, helping them make purchasing decisions immediately. For the implementation of Proximity Marketing, these below list of items are mandatory:

  • Customers with Bluetooth enabled smartphones
  • Beacons (BLE or UWB), which will be deployed within the store
  • Mobile application installed on the customers’ smartphone

According to an internet source, The beacon technology market has generated a whopping $519.6 million in the year 2016 and is expected to be worth $52.46 billion by 2022 as businesses pay more attention to delivering differentiated customer experiences. 

Proximity marketing is certainly a very promising way forward for retail brands and as it continues to gain greater momentum, Pinmicro’s assistplus solution is using beacon technology both BLE and UWB to collect critical customer behavioural data and other analytics, which in turn will help retail brands to engage better with their customers for a positive impact on the bottom line. 

To know more about assistplus, and how it brings digital transformation into the retail space, check out it here: https://pinmicro.com/shopping-retail-solutions

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