Retailers today could potentially rethink business strategy with intel gained from beacon technology, tracking customers spacial movements and digital habits online and in-store.
Myer, along with three other Australian retailers, will deploy beacons throughout its store network, as part of the trial.
The beacons will help track consumers within the physical store space as well as the digital world to gain a better understanding of the correlation between the two.
The technology could potentially offer retailers a powerful and targeted way to talk to shoppers at the right place and the right time, driving traffic to their stores.
“The exciting thing about this is the precise measurement of customers, from spatial movement through our stores and departments to media attribution from physical to digital, which has always been a challenge for marketers,” said Michael Scott, Myer’s executive general manager of brand strategy and marketing.
“In time, all of this will allows us to build tailored communications for consumers, like ‘just for you’ offers and communication, which is super cool.”
In terms of marketing, Myer will be “relentless” in ensuring the brand engages with consumers in the most optimal way, according to Scott. “We’ll plan our media from the inside out.”
Google says beacon technology is poised to change the way consumers interact with brands, making devices more helpful and revolutionising the way retailers measure the offline impact of online ads.
The beacon trial comes amidst Myer’s transformation mission, 12 months into its five-year strategy to ramp sales growth to more than three percent a year.
The retail giant has been investing heavily into delivering market leading omnichannel capability, amongst other initiatives like improving the in-store customer experience and re-energising its product range.
This week, Myer CEO Richard Umbers announced the company is in a better position than 12 months ago, highlighted in the retailer’s FY2016 annual report.
According to Umbers, customers are responding positively to Myer’s new digital strategy with omnichannel sales increasing by 74 percent and profit growing at a faster rate than sales.
“Over the past 12 months we have reinvigorated our brand offer, refreshed our approach to customer service and continued to strengthen Myer’s position as an omnichannel retailer,” said Umbers.
“In FY2016, we’ve made significant progress across each of the key areas of the ‘New Myer’ strategy. We have done a lot, but there is still much more to do,” said Umbers.