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-- -- walking to a retail sorts more more likely you're being watched him not because of concerns about shoplifting.
Retailers are using cutting edge technology to look -- how you move around the store in an effort to find more effective ways.
To get to -- products but is it an invasion of privacy.
Well one of the companies that works to do just this is called retail snacks will be welcome the company CMO teen talent can hi there.
Hi thanks for having me sit specifically what sort of information an -- or behaviors are companies hire to monitor study.
Want to understand how these -- expensive assets they have -- just.
Their stores and their employees and their inventory are really working for them and what they can do to make those assets work better.
So they install systems in stores to help them understand what shoppers do after they come through the doors they walk in where do they go where do they stay where they linger.
And how does all of that connect actual sales to register authorities and they aren't telling reporters clothing retail stores grocery stores did -- start -- -- epicenter client are.
It really is every segment of retail this is a fundamental enabling technology.
That retailers need so you see in -- all the segments he just mentioned.
Big box specialty.
Fast moving consumer goods department.
All of these segments are using these kinds of methods to understand what happens in -- -- To see where the most popular items might be to maybe change some of the displays so is this only then to benefit the retailer how the retailers doing business before.
Could it in essence.
Trickle down -- May -- benefit the consumer if the retailer itself can streamline prices somehow is there any benefit for the average person.
It's really very much to the benefit of the consumer if you think when you go to restore.
Your purpose of going -- to find the goods that you want -- -- those goods.
And the retailers trying to -- you in that.
Task the retailers trying to identify.
Friction points or problems that prevent you from doing that.
So let's say if there weren't enough staffing.
Or if an item was hard to find 'cause it was in a counter intuitive place that's the kind of thing that the -- can uncover.
And -- based on the sort of information.
So you're industries really experienced an explosion these indoor location tracking companies have been profiled by all kinds of media outlets of course we're doing -- segment with you today.
-- -- raises the question the other side of this is is my privacy being infringed upon what do you say to critics.
-- -- important.
The important thing to understand is that all of these data are really anonymous.
So our system and other systems are gathering data points in terms of saying this many people came to this part of -- at this time this is how long they stayed.
We don't know who you are individually.
And knowing who you are individually isn't really important to the retailer what's important is to understand.
How the crowd is voting so that they can respond to those votes.
I suppose Tim every time you buy something online Houston Amazon.com.
For -- stands it's even easier I would imagine -- tractor shopping habits so your brick and mortar.
Vs an online and we know online sales her.
Growing in many cases faster then brick and mortar -- so I guess is it safe to say this is a way to keep up the competitive edge.
Oh absolutely so the online world tracks everything that everybody does.
Every instance they spend on a website to the to the tiniest -- -- and what's perverse is that.
-- segment of retail that is 5% of sales which is online has gotten 95% of the analytics capabilities.
And the other segment that's 95% -- sales has gotten 5% of the analytics capabilities so we're just helping the brick and mortar chains.
Get some of the benefits that there on my brother and have been enjoying for more than a decade.
Well Tim we got to check back in a couple months to see how businesses going and have if and you -- you influence shoppers trends and how stores are presenting their merchandise it's it's really -- phenomenon can count thanks again.
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