E-commerce sites aren't the only retailers that know how to leverage technology for revenue growth. Beacons and other low-cost devices are set to shape the future of brick-and-mortar retail.
Beacons are devices that communicate with smartphone apps through a Bluetooth signal, and retailers are using them to connect directly with consumers who are shopping in the store. Macy's and Target tested the devices out last year, and Business Insider is reporting that hundreds of chains are planning on using beacons in the coming year, and that the technology will directly influence over $4 billion worth of United States retail sales this year at top retailers.
One of the most common uses for beacon technology is to deliver coupons to customers who are physically in or near a store. About half of the beacon-triggered messages that are currently being sent are coupons, which makes sense as a method of attracting prospective shoppers. Loyalty programs can also be used to offer rewards for consumers who visit brick-and-mortar locations on a frequent basis. Beacons can also track consumer behavior to deliver extremely personalized offers relating to a shopper's previous purchases.
Beacon technology is low-cost and low-maintenance, and requires practically no effort on the part of the consumer, which is why industry experts are predicting they will have such a widespread impact on retail in the near future.
If you're interested in outfitting your store with the latest technology, start with your point of sale system. Upgrading your company's credit card payment processor can make a huge difference in giving your customers the smoothest, securest and most personalized transaction experience possible so they return in the future.