While the use of Big Data by marketers has been prevalent in the online space for a consideration time, the industry has dragged its heels in harnessing it as a valuable resource in a bricks and mortar environment. However Synqera, a leading retail technology company, is warning retailers that the key to retail growth is analytics, with Big Data offering a tangible route to increased sales.
For many years retailers have aimed to reduce overheads and maximise profits by applying a more targeted approach. With the development of pioneering technologies, real time analytics based on Big Data can offer sophisticated customer profiling in-store, to an extent that has previously not been possible.
Synqera’s software platform provides retailers with a crucial tool supporting their own loyalty schemes and analysing a customer’s past purchases and demographic alongside business data, to generate bespoke real-time communications such as deals, games and discounts.
Although it is acknowledged that Big Data is a stepping stone to retail success, retailers have been slow on the uptake, signalling a crossroads for the industry.
Kirill Gorynya, CEO at Synqera, explains: “Bricks and mortar retailers have to push the boundaries and technology exists to help in that fight, bringing together bricks and clicks in ways previously not possible.
“Utilising in-store advertising and promotions as marketing tactics are used by retailers across the world; however manipulating and utilising Big Data to create a more highly targeted strategy is a newer phenomenon to the bricks and mortar environment.
“Online retailers have been manipulating Big Data to their benefit for years” continues Kirill, “but now there is an opportunity for offline retailers to do the same. With the help of innovative software, tailored adverts, promotions and money-off deals can be presented to customers at the checkout, and on their way into stores. The Synqera solution enables Big Data to be paired with current information, based on the weather, the customer’s mood and the time of year to offer the most relevant products or offers. This is a great way to encourage up-selling and increase sales for retailers.”
The Synqera software equips retailers with the tools to deliver highly personalized deals and promotions, by integrating with a retailer’s current infrastructure or as a stand-alone offering.
Kirill adds: “There is no reason retailers and brands can’t utilise more highly targeted approaches to, and therefor gain a higher return on their marketing spend.”
Synqera’s sophisticated solution can be integrated to with a range of hardware, such as the Synqera Loyalty Printer located at a store entrance or its own POS device called Simplate.
Simplate features a touch screen, camera and microphone for capturing physical data, such as a smile. It can facilitate NFC payment and also offers mobile wallet and online systems, such as Paypal.