Bluetooth Beacon technology is the most talked about technology in the retail and service sector in today’s day and age. There is a humongous amount of blogs, content, and articles generated & published on the web daily. But the most interesting part is to talk about numbers, statistics, and as-is-facts because these give an insight into what is going on and what can be expected. As a matter of fact, beacons have rapidly gained popularity and application in the retail industry worldwide and are making a sure entry on Indian shores as well. Indian retailers are opening up to and warming up to the concept of proximity marketing, personalized shopping experience, using beacons and leveraging technology to improvise store operations, fully realizing its potential. Moreover, even the consumer base is rapidly turning to internet through their smartphones to seek answers to anything and everything. The use of Bluetooth on mobile phones and the use of Bluetooth devices is only surging day by day. There is a strong reason to believe that Bluetooth adoption and proximity marketing technology, location-based technology will be successful in the Indian retail space, after having tasted a huge success overseas.
We have collated a few interesting and useful statistics to reflect upon. Pros, cons, advantages, benefits, realistic insights – everything is captured by statistics and case studies.
Beacons Prompt Store Visits
50% shoppers who visited a store – prompted by a beacon, admitted that they had not planned to step in the store
Beacons Create Relevance & Conversions
Approx. 53% retailers have said that beacons have helped them create more relevant and compelling (in other words – personalized) offers instores which translates into sales conversions. About 24% have witnessed a notable increase in sales conversions and offer redemption through beacons
Beacons Engage Customers
About 60% of shoppers open and engage with beacon triggered content or push notifications. Of which, about 30% shoppers redeem a beacon offer
Beacons Profile Customers
Approximately 71% retailers are able to track, understand and in some cases, even predict their shoppers’ behaviour better by using Bluetooth beacons
Beacons Enhance Store Conversions
Beacons triggered approximately $ 4.1 Billion offline retail sales during the last financial year; which was estimated to go up by about $ 40 Billion in the following financial year
Micro-Level Tracking Through Beacons
Beacons help at least 65% retailers target customers down to the aisle level
Beacons Assist Crucial Instore Decisions
Beacons help about 82% offline customers make crucial decisions while they are still inside the stores, shopping
Beacons Are OS Compatible
About 570 million (1/3rd) of the existing smartphone installed base (Android & Apple Operating Systems) are Bluetooth Low Energy [BLE] compatible
Beacon Mobile Payments
By the end of this year, more than half of all in-store transactions will be done via mobile phones (connected to beacons via Bluetooth)
Bluetooth Technology – 5 Times Cheaper
Because Bluetooth technology is highly efficient and economical compared to other similar technologies, its cost of operation is only 1/5th that of others.
India Is Tech-Savvy & Tech-Ready
In the current year, India has about 500 Million internet users of which about 400 Million are using internet on their mobile devices. In the next three years, this number is expected to go up to 700 Million internet users.
Interestingly, from the above numbers, about a 100 Million internet users are from the rural areas
India Is BLE (Bluetooth) Ready
By the year 2020, it is estimated that about 8.4 Billion BLE (Bluetooth enabled) devices (like smartphone accessories, computer peripherals, automotive accessories, wearables and even entertainment gadgets) will be shipped to Indian shores by popular demand from users
Millennials Impressed By Beacon Technology
Instore beacon technology influenced about an average of 83.5% young shoppers aged between 18 and 35; indicating that beacons have a better influence over younger shoppers than older ones
Beacons Boost Business For SME
Small and medium sized retailers can expect to gain an 8% growth in their operating profits and be able to reach an ROI of about 365%