New Delhi: Facing stiff competition from online counterparts, offline retailers have started engaging tech startups to launch retail offensive against their online peers, says an Economic Times report.
According to the ET report, various startups have come to rescue brick-and-mortar retailers by providing data collection and analytics.
Offline retailers were lagging behind in collecting these inputs unless there is a complete transaction by a customer.
Online retailers are spending up to 7% of their total spends on technology while the share is just 1% in the case of old businesses that are now playing catch-up, the ET report quoted Kumar Rajagopalan, CEO of Retailers Association of India.
startups such as Beaconstream and Bfonics have developed targeted marketing and deals for traditional retailers.
Startups like Beaconstream and Bfonics have recently developed targeted marketing and deals for traditional retailers, the report added.
Beaconstream helps retailers with detailed inputs on time spent by the customer in the store as well as categories browsed. The startup also allows customers to share the data on social media.
Bfonics enables retailers to provide real-times deals and dynamic pricing with personalised messages to cusomers.
Torchsight tracks smartphone users in a store that helps offline retailers to gather data about consumers, says the report.