Singapore retailers should adopt state-of-the-art smart mapping technology to optimise their business operations, according to global retail expert Gary Johnson.
Johnson, a renowned specialist in the use of geospatial technology within the retail sector, emphasizes that Singapore retailers should do so in order to remain competitive amongst global players.
The country's retailers need to investigate the latest smart mapping technology as it assists retailers to maximise their return on investment, by uncovering valuable insights into customer behaviour within and around their stores' locations.
Smart mapping technology is already being leveraged by some of the world's leading retailers including Nike, Starbucks and PepsiCo.
"Understanding the geography of a store combined with customer interaction can deliver compelling insights into the type of shopping environments that trigger spending activity," said Johnson.
Positive customer experience
Singapore's retailers can be more proactive in driving a positive customer experience by insightfully recognising the kind of shopping scenarios their customers respond best to.
This is very relevant as a 2014 market report identified a rapid adoption of mobile devices for online shopping in Singapore, with the country having the highest smartphone penetration rate - at 92 per cent - across Asia.
Also, a global survey of CEOs operating within the retail space, indicates the value of new technologies to the sector.
Leveraging smartphone sensors - GIS technology provides retailers with precise details of customers' movements in and around their business.
"Understanding the exact amount of traffic in store, peak shopping times and the positioning of best-selling products, retailers can uncover opportunities to improve sales," added Johnson. "This insight also enables retailers to deliver targeted messages as part of an overall customer experience.
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