Why Wi-Fi is the right approach for retail analytics

Why Wi-Fi is the right approach for retail analytics

Euclid’s offers brick-and-mortar retailers a simple solution to the fundamental questions they have pondered for generations, such as how to make the most of their customer opportunity and which activities most effectively build customer loyalty. Simplicity is often the hardest to solve for, so when we started building Euclid Analytics, we thought long and hard about the technology needed to bring the company’s vision to life. Out of the range of options, Wi-Fi was the most effective way for us to achieve our goals:

1. Easy to install and scale
We’ve designed a plug-and-play sensor that installs in two minutes – all you need is power and internet. This design has allowed our clients to scale our solution rapidly across their chains. For example, one specialty retailer, eager for data right before Black Friday, finished installing our sensors at nearly 100 stores in less than two weeks—from the first IT call to all sensors reporting.
Our sensors currently work with any form of internet connectivity, requiring a miniscule 4 kbps of bandwidth each – by comparison, even a dial-up internet connection provides 48 kbps of upstream bandwidth. Since they don’t handle any sensitive personal information, they’re fully compatible with your PCI-compliant network. And if you already have or are considering in-store Wi-Fi, you can use your Wi-Fi access points as sensors, removing the need for additional hardware entirely. We’ve partnered with leading Wi-Fi providers like Aerohive, Aruba, Cisco, Fortinet, Meraki, Ruckus and Xirrus to make this possible.
2. Low cost
Euclid charges an affordable monthly per-store fee for access to our answers and analytics. There are zero hardware costs. Sensors are provided free, or you can use your existing in-store Wi-Fi to collect data. Compare this with other technologies such as video and Bluetooth that require expensive hardware purchases followed by extensive configuration and installation costs. Our dramatic cost advantage delivers easy and affordable access to our analytics even for chains with hundreds of locations.
3. Protects consumer privacy
Euclid has been committed to protecting the privacy of shoppers from the very beginning. We achieve this by never collecting personal information like names, phone numbers, or email addresses through our sensors. Furthermore, our reports provide completely aggregated and anonymous metrics. By comparison, widely used surveillance cameras record shoppers as they move around the store and can even tag individuals with attributes like gender and age.
4. Bridges the data gap for offline retail
While online retailers benefit from valuable metrics like click-through rate, visit duration, and cart abandonment, offline retailers are starved for analogous data they can use to improve sales. Using Wi-Fi enables Euclid clients to measure their store visits, shopping time, and repeat visits and pinpoint what marketing and operations practices are most effectively driving revenue. Euclid’s dataset far exceeds what can be captured by mobile apps or Bluetooth, an advantage that is only increasing as smartphone penetration accelerates toward 60% in the US. This data edge means Euclid can deliver the clearest picture of which stores are performing best and why. The bottom line: Euclid delivers actionable insights that inform your most critical business decisions.

We realize there is a lot of noise in the retail analytics space and a number of technological approaches in the market. We’re excited to be recognized as the leader in the space – not only by top publications like The Economist and VentureBeat, but also by the many leading national retailers that rely on our services today. Contact us today to learn more.

Posted by Dexin Wang, Director of Platform Engineering
Dexin Wang, Director of Platform Engineering

Dexin Wang, Director of Platform Engineering

More posts by Dexin Wang, Director of Platform Engineering