Beacons Booming: inMarket Beacon Platform Impacts $14.5 Billion in Black Friday Weekend Sales at Retail Stores
Beacon technology has matured as mobile's impact on offline sales take center stage for the holiday shopping season.
Dec 02, 2016—
The inMarket beacon platform, with a comScore-verified reach of 50MM monthly active app users, influenced $14.5BN in consumer spending in physical stores during Black Friday Weekend 2016, as mobile reliance hit another all-time high.
With more than 84 percent of shoppers using their mobile devices inside stores, and 55 percent of shoppers using their phones specifically to aid their purchase decision, the opportunity for contextual, beacon-triggered mobile moments have become more impactful than ever before. Beacon-triggered mobile moments perform 5x higher than traditional mobile engagements (45 percent v. 9 percent STR).
inMarket's beacon detections were up 370 percent on Black Friday in 2016 versus 2015. The spike in detections is a direct result of consumer location adoption, beacon rollouts in top retailers, and proven consumer experience enhancements. Hardware is only half the equation to create a successful ecosystem. Beacons require apps to "listen and respond" to complete the circuit. As of Q4 2016, inMarket reaches more than one out of every four smartphone owners in the United States via top apps.
This perfect storm of consumer behavior and tech maturity has made beacon-based mobile campaigns a top priority for the world's largest advertisers. inMarket experienced a 223 percent growth in clients on its beacon platform in 2016 versus 2015, with over 200 top brands and retailers like Heineken, Clorox, Energizer and Rite Aid leading the charge. Clients, such as Johnsonville Sausage, saw a 24 percent sales lift versus a control stores, thanks to in-store mobile engagement via inMarket.
inMarket has doubled its staff across Los Angeles, Chicago and New York offices to keep up with demand from brand and retail advertisers on its platform.
"Over our six-plus year history, we've seen a lot of trends in the echo chamber. The guiding light for us has been to drive value for consumers enabled by new technology. We focus on the user, not the tech or the hardware," said Todd Dipaola, CEO, inMarket. "The world has never experienced a more disruptive or relied-upon technology than mobile, and I have never seen anything as powerful within mobile as the precision data and personalized experiences created from beacons. The hundreds of partners in our beacosystem agree."
As mobile becomes even more critical to the offline world, inMarket is focused on helping brands, apps, and locations bridge the online-offline gap, and to make connections when it matters most."
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