Retailers can gain a comprehensive understanding of shopper and employee behavior in their physical locations using Walkbase, STRATCACHE’s location-based marketing and analytics platform. The rich data provides insights that can be used for asset management, loss prevention, and to improve overall store performance.
The Walkbase platform uses in-store sensors to understand shopper behavior and identify patterns that can help detect potential shoplifting. By combining Wi-Fi, Bluetooth, vision, point of sale, and other store data sources into actionable insights, retailers can better understand how guests are spending time in their store increasing behavioral awareness to prevent future theft.
High-Value Asset Protection
Track the most valuable assets with a cloud-based solution that uses Bluetooth and Wi-Fi location technologies combined with patented Walkbase algorithms to deliver cost-effective, high-precision and scalable asset location monitoring services. Asset location data can be integrated and combined with other data sources under the Walkbase platform including customer behavior, point of sale, marketing campaigns, and weather to create a 360-degree view of what is happening in physical spaces.
Understanding Loss Prevention Patterns with AI and Sensors
Using artificial intelligence tied to point-of-sale and inventory systems along with sensor technology helps retailers get a 360-degree view of loss and risk conditions. While existing point-of-sale data and inventory tracking systems give retailers insight into store activities, combining this information with location-based data from Walkbase quantifies loss and gives a holistic view into timestamping loss events in the store. By comparing quantified inventory data and total sales collected by POS systems with information on who was in the store, and when, Walkbase empowers retailers to home in on identifying shrink in the retail environment.
Store managers can understand how associates are behaving in-store by gathering actionable insights based on their asset tag locations. An online dashboard displays tracking analytics in real-time including a visual map of equipment and personnel locations to understand employee behavior relative to customer behavior by tracking shopper traffic pattern data compared to store zones that are most or least frequented by employees.
“The addition of the loss prevention market is a direct result of growing demand and conversations with our customers,” said Ben Reynolds, VP of business development at STRATACACHE. “Specifically in retail, there is a business-critical need to understand in-store behavior to reduce theft. Retailers can use our products to optimize store operations as a whole—not just to increase sales by analyzing customer behavior but to also reduce theft with those same analytics.”
Walkbase was acquired by STRATACACHE in 2017 and has become part of the full solution offering of all companies in the STRATACACHE family of marketing technology companies. Since its acquisition, Walkbase has shown opportunity for rapid growth on a global scale, having been featured at events for companies across the STRATACACHE family in the Americas, Europe and Asia-Pacific regions.