Retail Customer Analytics: Technologies, Markets, and Revenues
This analysis focuses on the in-store retail analytics market. Traditionally, this market has focused on footfall- / people-counting and queue management using a range of technologies such as thermal imaging and camera analytics. These have enabled retailers to better understand conversion rates and execute more efficient POS management.
Three different strata now exist in which retailers can now sell their products, which has led to the development of omnichannel marketing techniques, i.e., creating a consistent marketing message and shopping experience across all channels. Analytics is at the core of enabling omnichannel marketing, which has placed significant emphasis on bringing online techniques to the real world. As a result, a range of indoor location- and smartphone-based analytics tools have emerged in the past two years.
This analysis aims to identify the impact of these technologies and determine if they are complementary or competitive to existing technologies. The analysis is primarily focused on technologies that support shopper analytics and thus does not consider related areas such as digital signage, kiosks, etc. Similarly, the analysis does not consider areas such as security / theft prevention, mobile payments, and in-store advertising as part of market sizing or revenues.