THE EYES HAVE IT IN RETAIL

THE EYES HAVE IT IN RETAIL

IN A technologically advanced way beyond closed circuit television monitoring or paper market research, the eyes of consumers are being tracked to monitor what interests them in the store.

Developed by Y&R Group’s retail marketing specialist agency IdeaWorks, the EyeTracker is already been used by several high-profile retail outlets in Brisbane.

“We have had six major jewellery shops, financial institutions and franchise operations install the device in their stores since January," says Y&R Brands Group managing director Phil McDonald.

Due to competition and security reasons, he was unable to identify the locations. Details of the technology are closely guarded, but it is understood the device is hidden within a display or showcase.

It tracks the movement of the pupils and analyses the order and duration of each view. Data is collected on a consumer’s engagement with brand collateral and the retail environment.

“We crunch these using algorithms and tell the client what works and what doesn’t,” says McDonald.

Big Brother is watching closer than ever in a new marketing trend that is giving some retailers a valuable sales edge.

“This technology gives clients a level of understanding not seen before through traditional marketing research.

“We’ve already seen the investment in the product pay off in spades for clients who can bridge that divide in understanding what kind of marketing tactic works."

Many retailers are looking for any kind of edge as they enter the difficult winter season.

Recent figures show Queenslanders spent more in January and February than at the same time last year. January was up 1.7 per cent and February 0.4 per cent, marginally ahead of the national average.

McDonald says retailers must use every avenue possible to ensure the get their share of the small increase in consumer spending.

“A catalogue dropped in the letter box with a bunch of others, or a basic website without tailored features and an active brand message just doesn’t cut the mustard anymore," he says.

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

GreenFort, Gaw Capital join forces on $800m joint venture

GreenFort, Gaw Capital join forces on $800m joint venture

Brisbane-based alternative real estate fund manager GreenFort Capit...

Riverside backs Wollongong IT powerhouse VITG as M&A opportunities beckon

Riverside backs Wollongong IT powerhouse VITG as M&A opportunities beckon

Virtual IT Group (VITG), a Wollongong-based managed service provide...

Booktopia extends share trading suspension as critical funding announcement looms

Booktopia extends share trading suspension as critical funding announcement looms

Just as so many Booktopia (ASX: BKG) customers had to wait longer t...

Seafarms sells two farms to Barramundi group MainStream for $13.5m to fund prawn mega-project

Seafarms sells two farms to Barramundi group MainStream for $13.5m to fund prawn mega-project

Darwin-headquartered prawn producer Seafarms (ASX: SFG) is selling ...