Indoor GPS Proves High ROI for Retailers
How Oriient helps cut costs and increase revenue
Enabling indoor location in stores comes at a cost, even with Oriient’s SaaS cost-effective model. How does that justify the investment? Here are 7 ways that Oriient provides retailers with quick and easy returns by helping to cut costs and increase revenue.
High ROI via your shoppers:
1. Recover sales of unfound products
Indoor navigation makes it easier for customers to follow an efficient route around your store. They find all the products they need and the retailer reclaims revenue from unfound products. In fact, you can get 40% of your shoppers to buy at least 1 extra item and increase revenue by 3-5%.
2. Increase customer loyalty
When a customer leaves your store in record time with everything on their list, they are satisfied. Satisfaction increases loyalty which increases app adoption and brand sales. Returning customers = more purchases.
3. Increase marketing conversion rates
Location-based promotional marketing and proximity offerings can be sent in real-time. They arrive straight to the smartphone that is being used by a customer while they are navigating your retail space. These offers have 4 TIMES higher conversion rates. And don’t forget the opportunities to personalize offers for each shopper based on their route and choices.
4. Understand the path to purchase
A better understanding of shopper’s in-store behavior and the path to purchase provides actionable insights that can be used to drive traffic around the retail space efficiently and with more accurate promotion placement. This means you save money on manual surveys – and collect more data that will lead to sales strategies that are optimized for your customers.
High ROI via your operations:
5. Streamline operations
To streamline your operations, Oriient’s PLAI (Product Location Artificial Intelligence) works in the background all the time. When customers are scanning products using a Scan & Go app, when pickers are packing baskets for online customers, and when employees are scanning and tagging products. Oriient will automatically build and update a product location map or realogram for your store, saving money and time on manual data collection.
6. Use data to optimize layout
Using in-store location data gives an understanding of the impact of shelf layout, product placement and marketing strategies on performance (as done in e-commerce and now also in physical stores). You can do A/B testing on-site with no additional personnel or software needed and understand how product and promotions placement leads directly to sales.
7. Optimize performance of grocery pickers
Indoor navigation that is shelf and product-specific optimizes the performance of grocery pickers. It can cut picker training time by 90% and improve picking rates by 50%. This means you can easily onboard new pickers and the pickers who work for you will be faster, more efficient, and have better job satisfaction.
One investment in Oriient’s indoorGPS system can increase your revenue and streamline your operations, giving rapid ROI.
Oriient provides a scalable indoor positioning system that requires no hardware installation, and can easily be integrated into any existing mobile app (like Scan&Go).
Once activated, you can use the solution for additional use-cases with no extra effort, leveraging the same indoor location service, increasing the ROI even further!
Time to Oriient your stores.