Using signals that emit from smartphones, Euclid Analytics gathers consumer data over WiFi. As the number of smartphone owners is increasing, this type of hardware-free solution can help retailers increase foot traffic, sales and loyalty.
The spread of smartphone ownership has affected the way consumers shop online and offline, but these devices can also offer brands value merely by being passively carried around by customers. While traditional measurement systems require the installation of hardware on the retailer’s side or apps on the consumers’ side, Euclid Analytics developed a service called Euclid Zero, that can measure customer behavior simply over WiFi. Store visitors that have a WiFi-enabled device can be measured through the service thanks to the signals that phones emit when searching for an available network. Because it is able to collect very precise data about customers, Euclid Analytics calls its new solution a “Google Analytics for the physical world.”
A data stream gathered using existing store infrastructure
Palo Alto-based Euclid Analytics collects data using the store’s pre-existing WiFi infrastructure, and requires no additional hadware. Retailers can then access a web dashboard with metrics about their shoppers. Metrics can be differentiated by various factors, including signal strength, ping frequency, and proximity to other sensors, if any. With a simple scan of this signal, store owners, shopping malls and restaurants can measure the impact of a display window, how many people pass by their store, how many come in, how long they stay and how often they return, how many people are standing inside and outside the store at a certain time, etc. The service can also determine if more time spent in-store translates to more sales - which might be true for many shops, but less true for restaurants, for instance. All of those metrics is meant to help stores increase foot traffic, sales and loyalty.
A solution more efficient as smartphone ownership increases
Of course, not all shoppers own a smartphone - which is the main limit of such a solution. Right now, the service is able to measure between 40 and 70 percent of visiting customers by their own calculations. However, smartphone sales keep increasing, and the number or smartphone owners too. According to a recent Nielsen count, 54.9 percent of US mobile subscribers own a smartphone, and 2 out of 3 mobile purchases are smartphones. In other words, the ever growing smartphone sales means that more shoppers will be included in the near future, and Euclid Zero’s data gathering model is one that can only have more efficacy, and therefore more impact, as time passes.