A young Malaysian entrepreneur has developed what he describes as “Google Analytics for the offline world” – a unique application aimed to revolutionise the way bricks and mortar store owners interact with their customers.
TechInAsia.com reports that while ecommerce might be all the rage in the tech world, 94 per cent of total retail sales are being generated in bricks-and-mortar stores, (source: market research firm eMarketer).
Considering that business-to-consumer (B2C) ecommerce sales worldwide are estimated to reach US$1.471 trillion by the end of this year, the size of the offline market is mind-boggling.
This is what Lim Chee How, founder of Malaysia-based Tapway, is counting on; he believes Tapway is something store owners sorely need.
“Whenever I purchased something through Amazon, they were really awesome at identifying who you are, what you have purchased, and giving you really personal recommendations,” Lim expains.
“I’m a rock fan, so I always purchase CDs through Amazon, and when I returned to Malaysia [after studying abroad] I always shopped at this record store, but despite being a repeat customer, they couldn’t remember me at all. They couldn’t give me good offers and it was always the same boring welcome and goodbye message. That’s why I created this.”
Much like Google Analytics, a lot of insight on shopper behavior and activity can be drawn from the data captured on Tapway’s platform, but it is up to the store owner to act on them.
The startup’s basic package – which captures metrics such as walk-by traffic, visitor traffic, and average visit duration – relies on wi-fi presence and triangulation technology. It’s currently charging MYR100 (US$30) per month for this service.
A comprehensive report on Lim’s Tapway concept can be read on on TechInAsia.