POWER UP YOUR LOCAL Driving Loyalty with Foresense Technologies

The Foresense platform] allows accessibility in real time so highlyinformed, proactive decisions can be executed as trends are actually emerging customer by customer.

INTRODUCTION

In decades of old, local retailers were central pillars in the local community.

Local people frequented and owners and shop staff knew entire families by name and the specifics of their daily lives.

Now, the proliferation of large regional shopping centres and the rise of online retail spaces have seen the death of many local retailers – and immense pressures on those who have survived to this point.

More recently, the COVID-19 pandemic has brought with it many quirks and anomalies in how society has adapted to new paradigms of day-to-day normality.

One significant cultural phenomenon is that of a return to living local; that is people have effectively rediscovered what it means to support local businesses born of a need to keep closer to home and avoid large crowds.

Some districts effectively had this mandated with travel limits in place during the height of COVID lockdown periods.

BUILDING LOYALTY: A PROBLEM LARGELY IGNORED

COVID has shown retailers that home is where the heart is.

While small to medium enterprises have enjoyed a new vitality in local visitations, large corporations are forced to revaluate their marketing mix in driving people through their checkouts.

Heavy media campaigns and multimedia branding are unarguably effective, but this mass bombardment approach offers little support at the coalface of the retail experience.

This coalface is where significant purchase decisions are made based on customer personality traits and characteristics, where a business has the opportunity to interact and engage with people in fleeting moments.

Without the budgets for large scale advertising, local retail has long been left to their own devices and fight for market share with what they had: people.

Their own staff – through superior product knowledge, personality, and individual knowledge about their return customers – and the recognition that a heightened consumer experience is key to return visitations and long term customer retention.

Large scale retail is often guilty of adopting a mindset where mass marketing and pricing is all that is needed to maintain turnover and healthy profits.

Clearly, this is not the case.

Aisles and aisles of goods across massive floor spaces can leave a store lacking any vibrancy.

Award wage staff can often appear disinterested and disdainful.

And the stores within a chain are just carbon copies of themselves – there is nothing unique about them.

The retail experience under these conditions is faceless and grey, soulless.

THE PARADOXICAL SOLUTION: A RETROSPECTIVE MINDSET MOVING RETAIL FORWARD

Even before COVID, local retailers clearly knew that adopting a local mindset ultimately equated to greater profitability.

In throwing the casting net far and wide, mass marketing inherently lacks personalisation or tailored customer experiences.

The local business offers a highly unique capability here in really drilling down and getting to know their customers which larger stores with larger foot traffic and larger staff rosters simply cannot.
While online retail can gather a myriad of personal information which can pander to individual characteristics and help drive sales, their platforms still produce highly generic, replicable shopping experiences based upon rigid digital rules and procedural algorithms.

By returning a focus from yesteryear on a more personable approach to customer interactions experiences can be enhanced beyond any online approximation and the retail lifeline – the metaphorical rope that binds retailer and customers over time and space – is strengthened beyond question.

That is not to say that certain element of online marketing can be highly desirable if applied to real-world sites and situations…

Large scale retail is often guilty of adopting a mindset where mass marketing and pricing is all that is needed to maintain turnover and healthy profits.

THE FORESENSE SOLUTION…

Foresense Technologies offers a complete technology to revolutionise the concept of knowing your local customers.

Powered by proprietary AI algorithms in combination with a full sensor array, smart shelves and an accessible end-user interface, Foresense presents a platform that is uniquely customisable for highly specific applications.

Foresense facilitates the collection of presence data and the analysis of action – and interaction – on-site in real-world settings to provide real-time analytics of traffic inside and around any physical location.

In a similar way to how behavioural data is utilised online through careful analysis of aspects such as dwell time, sessionduration, and unique and return visitations the Foresense platform collects data through sensors integrating with all near- vicinity smartphones.

This approach is used to achieve an exacting journey mapping solution to reveal big- picture tendencies gathering highly detailed data over time to take the guesswork out of resource and structural planning that shapes profitability

At the same time it allows accessibility in real time so highly-informed, proactive decisions can be executed as trends are actually emerging customer by customer.

With Foresense, local retailers can now see inside the coalface, revealing previously obscured insights vital to enhance the customer experience to a level beyond that of large chains stores and online shopping.

CONCLUSION

Although the days of the local corner store are all but gone, the retail world has moved forward in larger shifts in recent decades, leaving some key desirable aspects in retail by the wayside.

Many consumers want for a more personalised shopping experience in today’s repetitive world of online shopping and chain stores.

Although smaller local retailers face many exacerbations – factors including time constraints and profitability considerations versus providing a more hands-on approach to each and every customer that walks through their doors, technology can help, today.

Foresense AI identifies customers who deserve more attention from shop staff in real time to enhance not only their in-store experience but also their likelihood to buy – and return again and again.

Through big picture analysis, the platform reveals improvement in floor layout design, foot traffic flows and day-to-day operations of staff and other resources to optimise efficiencies and revenues.

Capitalising on a marked shift – a shift back towards simpler times in retail – Foresense, assures the future of brick and mortar retail after decades of marginalisation.

Glenn Weiland
Chief Executive Officer,
Co-Founder Foresense Technologies Ltd
Glenn.weiland@foresense.com

www.foresense.com