- LIFImap have developed a visible light communication (VLC) solution that brings IoT to retail.
- Our solution combines visible light communication via LED transmitters and photodiode receivers that can be easily attached to a retail product, for example a sports shoe in Nike Town, a handbag at Louis Vuitton, or a pair of boots at RM Williams, which essentially creates an indoor-GPS.
- The device sends a signal to the LED, and when the product is picked up, the signal is detected and the movement is monitored, recorded and displayed via the LIFImap software to the retailer.
- The VLC industry is growing rapidly as the benefits of VLC include lower cost, faster response, and higher security than Wi-Fi.
- LIFImap monitors the in-store interaction between a consumer and a product in real time.
- Unlike beacon technology, Wi-Fi signal hot-spotting, heatmaps and other in store retail monitoring, LIFImap is a true retail IoT solution that monitors the actual interaction that a customer has with an item in a store.
- The technology behind LIFImap was developed at a leading telecommunications research institute and has been commercialised into the LIFImap retail store application.
WHY DOES THIS MATTER?
- Global retail is a 20 trillion dollar industry, and all retailers are trying new techniques, technologies and processes to get better insight into what consumers want, what’s trending, and how to further optimise product engagement to product sale.
- The issue with existing customer monitoring solutions is they use cell phone signal or consumer heat mapping to monitor the customer. What this doesn’t tell you is:
- LIFImap can tell you exactly what item, where it was moved to, for how long was it held, whether the product was rotated, whether the customer walked over to other products to compare.
- This data can provide insights around optimising product shelf positioning, shop layout, product colour and style trends, and other key insights.
About the Company
We are a blend of technical positing, graphics interfacing, and software and technical-commercialisation folk, who believe that real-time data insights into customer-product interactions can help retailers at a local, national and international level gain greater insights into optimisation of store layout and product positioning.
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