SINGAPORE and SAN JOSE, CA--(Marketwired - May 6, 2013) - How can brick-and-mortar retail store managers get the same kind of detailed insights into the shopping behaviors of their customers that online sites can get from Web analytics? Indoor positioning company YFind Technologies, has the answer. Just announced today, the company has launched TheRetailHQ® -- a unique, first-of-its-kind shopper analytics dashboard powered by YFind's patented, highly-accurate indoor positioning system.
Indoor positioning technologies open up a whole new world of data-based insights into consumer shopping behaviors. Within the store analytics is what makes TheRetailHQ unique. Alternative solutions provide in-store analytics, however, TheRetailHQ accurately pinpoints a shopper's specific location inside a store. Furthermore, to achieve this, shoppers are not required to download an app. In other words, TheRetailHQ offers 'zone level' tracking, that provides deeper analytics through the use of 'zone-to-zone' or 'section-to-section' tracking.
A truly unique business application for retailers and mall operators, TheRetailHQ provides valuable new metrics such as identifying unique shoppers; pinpointing new versus repeat customers; tracking dwell-time; analyzing where shoppers are spending time in the store and more. This footfall analytics dashboard is analogous to Web analytics for the 'offline' world, and enables retailers to better understand how shoppers behave -- and make more informed decisions based on insights previously unavailable to them. Using TheRetailHQ, retailers can generate quantifiable, traffic-based ROI for advertising and promotional campaigns, with technology that accurately measures the effectiveness of marketing programs based on real footfall data.
Indoor Positioning Poised to Transform Retail
According to a recent report from ABI Research, the market for indoor positioning, real-time location analytics and SoLoMo (social-local-mobile applications) in location-based marketing has been growing rapidly -- and will reach $5 billion by 2018. "Indoor positioning is increasingly important to businesses who seek to deepen their understanding of customer behavior, and transform the shopper experience -- making it highly-targeted and relevant," noted Melvin Yuan, co-founder of YFind. "YFind is a pioneer in this field, and our indoor positioning engine is proven to be very accurate. Our customers -- including several government agencies in Singapore, one of the largest malls in the world and several retailers in Asia -- are a testament to the strength of our technology and solutions. YFind's core indoor positioning engine technology, commercial applications and worldwide customer base give us a clear competitive advantage in our quest to redefine the retail space as we know it, enabling retailers to take control of their destiny -- and make intelligent decisions based on real-in-the-store customer behavior data."
Today, WiFi-enabled mobile devices serve as a conduit to enable retailers to accurately locate and engage with shoppers. YFind's Positioning System™ (YPS) -- a WiFi-based indoor positioning solution that is low-cost, easy to deploy across venues of all sizes, and works on all mobile computing platforms including iOS, Android, Windows Phone, and BlackBerry -- makes this possible. A highly accurate, patented "Indoor GPS" engine that locates people via their mobile phones, YPS fuels YFind's TheRetailHQ, allowing retailers to understand customers in a whole new way.
TheRetailHQ is available immediately to customers all over the world. For more information, please visit www.TheRetailHQ.com. For more information on the company, please visit www.y-find.com.
About YFind Technologies
Headquartered in Singapore with locations in San Jose, Calif. and Hong Kong, YFind Technologies is an Indoor Positioning Systems company that helps businesses to track and analyze movement in any indoor or complex urban environment where GPS does not work. This is made possible by the company's unique YFind Positioning System™ which accurately locates individuals through the smartphone they carry.
Founded in 2010, YFind's solutions are used in a range of environments including retail malls, airports, museums, hospitals and exhibition venues. By enabling location-aware services, YFind aims to make the world a more intelligent place, one building at a time. For more information, visit YFind Technologies at: www.y-find.com, and follow YFind Technologies on Facebook, LinkedIn or Twitter.