The retail industry is increasingly leveraging location-based services to gain valuable customer insights, benefit from proximity marketing, and improve customers’ shopping experience. Besides big brands and multi-store chains, several brick-and-mortar retailers are also incorporating location-based technologies into their operations to elevate customers’ in-store experience, improve retail functionality, and increase sales. Globally, the share of brick-and-mortar shoppers who use smartphones for in-store shopping rose from 28% in 2020 to 34% in 2021. Similar trends are also observed in the developing parts of Asia-Pacific, including China, India, South Korea, and Southeast Asian countries. Retailers are embracing and promoting the use of location-based apps among their customers to provide them with relevant information on store navigation, promotional offers, and store benefits.
In-store experiences can be significantly improved through advanced location-based solutions that allow for an array of analytics, resulting in better customer experiences as well as operational effectiveness. Also, location-based solutions use specialized sensors for tracking high-value items and inventory, ranging from carts and ladders to Point-of-Sale (PoS) devices and goods pallets. Easy-to-use mobile apps ensure that staff can quickly configure asset tags and then locate the physical assets within indoor locations.
According to the Mobile Economy Asia-Pacific 2022 report, at the end of 2021, the number of mobile internet users in Asia-Pacific exceeded 1.2 billion, reflecting a penetration rate of just under 45%. Mobile services continue to make a significant contribution to the Asia-Pacific economy due to the consistently rising use of smartphones. A significant share of consumers is gradually adopting location-based solutions to improve their shopping experiences. Smartphone adoption is providing retailers with opportunities to leverage their existing Wi-Fi networks to collect actionable location data. These benefits are driving the proliferation of location-based solutions & services in APAC’s retail sector. Other advantages of location-based solutions for retail enterprises are as follows:
- Influence retail site selection.
- Optimize navigation and deliveries.
- Improve customer service.
- Highlight expansion potential.
- Help predict future occurrences.
- Improve search engine ranking.
- Help monitor user activity.
Thus, the increasing deployment of GPS-based systems among supermarkets and the surging use of services such as indoor navigation, interactive maps, and real-time insights are encouraging small, medium, and large-scale retail organizations to adopt location-based services, driving the growth of this market.
Conclusion
The retail industry is increasingly leveraging location-based services to gain valuable customer insights, benefit from proximity marketing, and improve customers’ shopping experience. In the retail industry, location-based solutions are used for tracking high-value items and inventory, ranging from carts and ladders to Point-of-Sale (PoS) devices and goods pallets. Smartphone adoption is providing retailers with opportunities to leverage their existing Wi-Fi networks to collect actionable location data. Thus, the increasing need for location-based services in the retail industry due to the growing demand to improve customer service and optimize navigation and deliveries leads to the growth of the market.
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