New Balance has partnered with IoT and AI innovator, Beonic to enhance its retail experiences on a global scale by optimising store performance and elevating customer satisfaction.
Beonic’s technology, seamlessly integrated into hundreds of stores worldwide, offers insights into shopper movement and behaviour helping retailers gain data-driven insights and deliver more personalised experiences.
Using Beonic’s platform, New Balance can measure foot traffic and conversion rates, as well as queue time, dwell time, change room utilisation and category engagement, to evaluate store and product performance over time.
Beonic CEO, Billy Tucker (pictured) said, “If a product line or store isn’t performing as expected, a retailer can pinpoint exactly where things are going wrong. By providing this information to New Balance, stores can understand how a space could best suit shopper patterns. This means everything from simply understanding how many staff are required due to volumes of foot traffic to understanding where a new product line would be better placed.”
The people counting solution for New Balance’s international footprint covers 234 stores across 16 countries, including Australia.
New Balance APAC direct to consumer director, Jonathan Clark said, “Using Beonic’s people counting sensors, we receive customer and occupancy movements, which, when matched with our point of sale data, can assist in understanding conversion metrics.”
Beonic’s data collection ensures complete anonymity of shoppers. The people counting technology captures the movement of people or trolleys as dots on a map. Sensors used in New Balance stores can capture an accurate picture and map someone walking without capturing their physical identity.
Beonic works with other leading retailers including David Jones, Ikea and Woolworths.