Bringing Finnish Innovation to Retail’s BIG Show

Kevin Hunter

Walkbase at Retail's BIG Show 2017

The Luxury of Digital Insights in Physical Retail

The retail industry just had a record setting 2016 holiday shopping season with total expected holiday sales to exceed $1 trillion representing a 3.6% to 4% increase over 2015. After a lengthy holiday shopping season, a quick family recharge, and a New Year’s celebration, many in the retail industry will arrive January 15th-17th in New York City for Retail’s Big Show hosted by the National Retail Federation.

It is NRF where we as an industry evaluate the success of existing trends, and identify the new trends that will be driving retail investments for the following year. You can guarantee that the need for high-quality correlated data, analytics and insights are at the center of these discussions! Data is the critical building block needed to understand, execute and measure the success of these trends and to improve overall industry performance.

Real-time Data Luxury

Digital or e-commerce retailers have the luxury of processing many types of real-time and historical data streams to influence critical consumer path-to-purchase decisions. These crucial decisions are influenced from correlating data across behavioral patterns, path-to-product, inventory levels, brand dollar allocation, audience trends, loyalty, previous purchases, first-time visitors, repeat frequency, profiles, location, weather, etc. to increase basket size with a higher purchase conversion rate. This data is not limited to just influencing consumer purchase decisions but also understanding consumer product/cart abandonment decisions.  Understanding the data in real-time allows digital retailers to remarket or retarget the customer across various channels for maximum influence when they have the highest propensity to buy. To date, this has proven challenging for physical retailers.  
 
Real-time data luxury has been a gap that has plagued physical retailers since their first brick and mortar stores. Physical stores are dynamic data environments that are continuously changing presenting a significant layer of complexity in capturing, processing, learning, and normalizing different in-store data signals.  This complexity creates potential barriers to digital style analytics, insights, and engagements that are used to influence consumer behavior and their purchase decisions. The dynamic nature of physical retail presents challenges; however, it offers many opportunities for industry innovation.  These innovations are allowing brick and mortar stores not to be envious of their digital or e-commerce brethren any longer.

Meet Walkbase at NRF17

I have been attending NRF for many years representing several different sides of retail in mobile, location, proximity, engagement, marketing, and advertising. I recognized there are various generated data signals in the physical retail environment, but most are processed historically vs. real-time and independently vs. collectively.  This creates enormous consumer insight gaps and puts the burden on the retailer to connect the different data signals to make them strategically valuable. 
 
However, this year I am excited to be attending NRF representing Walkbase as their US President. Walkbase is a Finnish based in-store and venue IoT analytics and marketing company with offices in Finland, UK, UAE, and the US. Recently, Walkbase expanded into the US market based on substantial interest and demand from the region. 
 
Walkbase has built a platform that incorporates and real-time processes many different and diverse physical retail data signals, providing immediate digital-style actionable insights and trends that can be acted on quickly to influence consumer behavior and purchase intent. Furthermore, Walkbase is helping reduce the burden and costs on physical store retailers by providing a platform that layers together multiple retail data layers demonstrating instant direct value.

We are excited to continue our success in the US market based on our European and Asian achievements in retail chains, grocery, automotive, restaurants and cafes, shopping malls, department stores, and airports. 
 
I look forward to a successful NRF and a year of growth in 2017.

Please contact us if you are interested in meeting at NRF.

Book a meeting with Walkbase at NRF17

WALKBASE BRIEFLY

Walkbase provides a retail analytics solution for improving the impact of marketing on physical stores and personalising in-store shopping experience.

BOOK A MEETING

NEWSLETTER SIGNUP

FOLLOW US