There’s a company in Palo Alto, California that is calling itself “Google Analytics for the real world.” The company’s name is Euclid. I think this is a sublime idea.
Euclid collects data for retail businesses using smartphone technology to track consumer movement. Here’s how it works, in a nutshell:
Euclid installs sensors in retailers’ locations that can measure how many people walked by a store, how many walked in and for how long they stayed based on when their smartphones emit a kind of radar searching for wireless Internet signals.
The incredible thing about that is it allows retail store owners an opportunity to use actionable data that, before now, they haven’t had access to. If you know how many people pass by your store without entering, then you can work on ways to draw those people into your store – and track your results. An increase in store traffic after a few merchandising or promotional efforts and you’ll know your marketing campaign is working.
You can do the same thing with in-store traffic. Are people browsing and leaving without purchasing? Maybe you need to run a few store specials to encourage more buying. You can track your results to see if it is working.
This is powerful retail technology and a very clever use of smartphones for tracking purposes. Brick and mortar retail businesses now have access to some of the same tracking technology that online businesses have enjoyed for years.