Since June 2013, Beacons have been getting a lot of attention, particularly online as many experts foresee its possible success in the future. But it was Apple who made the technology more popular with the released of the iBeacon at the Worldwide Developers Conference (WDC). Since then, news of the technology’s capability to revolutionize various sectors, from retail store to museums and events, hasn’t died down.
These stories are becoming more frequent and exciting for many as it bridges the gap between offline and online, helps companies generate more profit, and develops customer engagement.
Apart from iBeacon technologies, Samsung also released their own technology called Proximity, a mobile marketing platform that promises to connect users with places via the company’s own location detector and context aware technology. It will consist of third-party beacons that interact with the Proximity service app. The app has been released and it is compatible with the latest Galaxy S7 and Samsung smartphones running Android 4.3 and above. O2 mentioned that the new handset comes with the more advanced KNOX service for additional protection and filtering of unwanted data and adverts. The built-in Android Marshmallow OS made a few improvements on the Samsung KNOX service for an additional layer of protection. Samsung hopes the technology will be adopted in stores, restaurants, malls, airports and other customer-facing industries.
However, simply adopting the technology, especially in retail stores, doesn’t guarantee success. Many statistics play an important role to ensure that beacon tech is implemented as it has numerous benefits to businesses. Here are some of the top statistics that retailers must know about regarding beacon technologies:
1. Physical stores to invest $2.5 billion in Internet of Things (ioT) in the next five years, where most of the investment will be focused on beacons and RFID tags.
Source: Juniper Research
2. Beacons and its technology are forecasted to drive $44 billion in sales to retail this year, which is $4 billion higher than last year.
Source: Business Insider Report
3. More than 400 million beacons are predicted to be shipped in the next five years, where most will be used in retail stores.
Source: ABI Research
4. Forty six percent of stores adopted their own beacon programs last year, which is 15 percent higher than the previous year.
Source: Retail Touchpoints’s 2015 Store Operations Survey
5. Eighty two percent of customers will make purchase decisions while waiting in the aisle.
Source: Forrester Research
6. Seventy one percent of stores are able to manage and analyse customers’ purchasing patterns using beacons.
Source: Media Post
7. Shipments of iBeacons will potentially reach 60 million units across the United States.
Source: ABI Research
The iBeacon technologies will continue to be an important tool in achieving success in retail stores. In fact, a study featured by 9to5Mac revealed that retail industries usage of iBeacon will blow up app usage and ad engagement.
“Successful geofencing improves the consumer experience while increasing engagement value for brands. With today’s data release, we now have proof that consumers appreciate this value in a measurable way: They’re more likely to keep apps that use beacon messaging, and they’re more likely to interact with advertised products in-store thanks to beacons,” said Todd Dipaola, CEO of inMarket. “When we launched M2M in January, we set out to improve the shopping experience for brands, retailers and consumers. M2M is the first platform to showcase these exciting improvements at scale.”