IoT-Retail Tech Converging Offline-Online Shopping

IoT-Retail Tech Converging Offline-Online Shopping

iot retail tech converging offline online shopping image

Episode 66

It takes a lot, and I mean a lot, to get me to download yet another app on my phone, especially one that’s going to try to sell me something… but, I’m open to Retail-IoT tech. I’m not much of a physical shopper, probably because I find the whole shopping experience so dreary, but this so called offline-online convergence within retail has piqued my interest. In this episode of the IoT Business Show I speak with Oleg Puzanov about proximity marketing and where it’s headed with IoT.

In this episode of the IoT Business Show, I speak with Oleg Puzanov about proximity marketing and where it’s headed with IoT.

Oleg is CEO and Co-Founder of the IoT startup, Leantegra. He has over 15 years of experience in IT companies, dealing with embedded systems and working with IoT since 2004. Prior to Leantegra he’s worked for several companies in the U.S., Europe and Ukraine in the areas of Telecom, Smart Home, Connected Car and Location-based services.

When people think proximity marketing, one of the first things that come to mind is that scene in the movie, Minority Report. You remember. The one where Tom Cruise is rushing through some futuristic tunnel while personalized video commercials are being displayed on approaching screens, some of them even calling out his name, “John Anderton!” Ok, that’s annoying. But instead, let’s say you’re in a big box hardware store shopping for a drill. If you could pull out your phone and see each drill’s specs, compare them to each other and get a 20% discount on the one you want – that would be good. And if you had a question and you could immediately video chat with a service person on your phone. To me that would be really good. An equitable exchange in value. Me downloading the hardware store’s app in exchange for a few popup messages of things I don’t care about but also useful information and help about things I do care about. For me that would lead to greater satisfaction and loyalty to the store brand because I would have a better, less dreary, shopping experience. This is the promise behind the offline-online convergence – adding value to the shopping experience so you don’t just buy that drill from Amazon. You go in the store, buy the right drill and while you’re at it, buy a few other things you forgot you needed. Works for me; works for retailers; win:win.

Here’s What We’ll Cover in this Episode

  • iBeacon and Eddystone standards.
  • What’s needed to deploy contextual advertising – Minority Report Style.
  • How to get consumers to download your in-store shopping app so your beacons and system will work.
  • Cost to do a simple proximity marketing proof of concept.
  • Components of a proximity marketing IoT system.
  • The much sought after, offline-online convergence.
  • Issues faced when moving from a proof of concept to a pilot.
  • Real-time location systems.
  • Challenges to scaling a proximity marketing system.
  • Motivations for installing a proximity marketing system – and It’s not all about ROI.

Mentioned in this Episode and Other Useful Links

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Would you download and use an in-store app?