Start-ups in retail technology are growing and Retail Week is highlighting some of the best. This week Walkbase is in the spotlight.
Walkbase is an online platform that allows retailers to analyse a shopper’s in-store and online behaviour to create an omnichannel customer profile. UK managing director Adrian James explains more.
Key facts
Founded: 2010
Retail partners: Dune, Samsung and “a major UK supermarket” – Walkbase say they cannot share which supermarket due to a non-disclosure agreement.
Investment: Walkbase has received €6 million (£4.3 million) investment in total from various investment funds such as SBT Venture, as well as private investors including Olli-Pekka Kallasvuo, the former chief executive of Nokia Corporation.
Founders: Tuomas Wuoti (chief executive), Niclas Jern, Björn Sjölund and Gabriel Nyman
What it does
Walkbase is an in-store analytics company, providing retailers with real-time analytics on customers’ browsing habits in brick-and-mortar stores and enabling them to offer the same personalisation offline as they can online.
The technology uses wi-fi and beacon technology to analyse dwell times and queue lengths, as well as tracking the customer’s journey from passing by a store to making a purchase.
“Walkbase combines customers’ in-store behaviour with their online shopping habits to create omnichannel customer profiles” says James.
“For retailers this means engaging their loyal customers with personalised in-store marketing, and turning physical stores into a digital advertising spaces.”
What problem does the technology solve for retailers?
Walkbase’s offer is tailored to fashion retailers as well as large format stores, such as supermarkets and department stores.
The technology enables retailers to monopolise on existing in-store technology to gain insight into their customer’s in-store behaviour with minimal costs.
“Our technology is designed to deploy highly accurate analytics on existing wi-fi in-store infrastructure, integrating web analytics to show online to offline conversion across all properties” says James.
This data is presented in an analytics platform and broken down into easily understandable findings such as average spend per visitor.
Walkbase also analyses shoppers’ responses to in-store marketing, allowing retailer’s to see the efficacy of their advertising in store.
More information: www.walkbase.com
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