Stephanie Clifford and Quentin Hardy authored an article, Attention Shoppers: Store is Tracking Your Cell, which was published on July 15, 2013 in the online edition of The New York Times. We’re interested in this topic, meaning technology to track the behavior of retail customers within a store. As far back as 2002 we had some involvement with ISVs developing solutions for the Radio Frequency Identification (RFID) market. These ISVs were working on very similar technology.
ISVs with technology brick and mortar retailers can use to compile this type of information have a near term opportunity to cash in. There are network and business intelligence components to the technology. We think it will take sometime before retailers can demonstrate relationships between store visits, shelf life for products, and likely buyer behavior. But the starting point, meaning systems to collect the information, appears to be in place.
Of course, there is a side benefit for retailers who choose to implement this technology. They will be able to pinpoint retail customers checking store prices for items against online competitors.
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