Motionloft, a Mark Cuban company, makes sensors that use computer vision technology to tell the difference between people, cars, and bikes. Retailers use its data to help build better attribution models, increase sales conversion, and trigger proximity marketing.
According to Amati & Associates partner Marco Bevolo, Stefano Marzano, former CEO Philips Design, nailed it when he said the retail of the future will look much more like the retail of the past than the retail of today.
“Big data and the social media mobile revolution are on their way to extend personalization opportunities to high street retailers” Bevolo told me. “Retail, therefore, will know ‘you’ as based on your public profiles and data-tracked behaviors, as much as the old shop owner of 50 or 100 years ago in Italy would know every detail about every customer, in order to serve them best.”
And that’s the new key to brick and mortar retail: Make it an experience.