Barnny Chan, VP and GM of Retail Application Business Unit, WINNER Technology: Data Speaks for Retail

2017-12-08

Real Data Is Energy, Which Ignites “Responsive Retailing”

When the retail industry appeared, stores usually served the neighbors in a small-scale district. There is a“consumer database” of the shopkeeper, which is his/her brain. Some of them even know the name, job, address and preferences of the customers, making it possible for each customer to enjoy the made-to-order service.

The rapid development of mobile Internet changes the approach of people to get information. Nowadays, the features of the retail stores have changed. Faster mobility and less brand loyalty of the customers make it hard for shop-owners to make rapid reaction to consumer behaviors. However, in the meantime, new technology makes those behaviors digitized, which helps to connect consumers and commodity effectively.

“Data could objectively tell you something that never happened before or some results that you never imagined”, said by Barnny Chan, VP and Retail Application Business Unit GM of WINNER Technology. “Better yet, we can do the data mining to find out more useful things.”

As early as 2004, WINNER Technology has been engaged in the analytics of offline shopper behavior. Over the 13 years, we have been dedicated to the brick-and-mortar business data collection sensor technology and data analytics service for over 1,000 shopping centers and 20,000 brand chain stores, counting 10 billion traffic(person-time) annually.

“When it comes to decision-making, data is needed as a benchmark.” Barnny said. There are two kinds of system data, one is traditional manual-management data, including ERP and POS; the other is consumption data collected by the sensor, which is called intelligent data. Assembling those data, we provide data services by on-demand customization.

With the development of science and technology, big data has already replaced the “consumer database” of the shopkeeper. “Responsive retailing” with higher quality and better experience will bring the joys of consumption back.

Real Data Only Cares Consumers

There is no doubt that consumers are the core of retail industry. Shopper traffic change is the most direct reflection of consumer preferences. On the contrary, the turnover has a hysteresis when reflecting those preferences.

Shopper traffic is related to the value of the shopping center. It is hard to observe the slowly losing shoppers by our eyes. In July 2017, WINNER Technology was invited to “2017 China National Shopping Center & Experience Consumption Summit”. WINNER Technology’s traffic analytic solution for the stores in shopping centers made its brilliant debut and successfully caught the attention of many participant commercial real estate businesses.

“Besides hardware system, data platform is more important. Through the deep analysis of those data, we could provide valuable service to clients.” Barnny said that the key to break homogeneity competition is to grasp the target group. Now the Era of Consumer Sovereignty has come into China, algorithms and hardware are just the tip of the iceberg. It is the follow-up services that make a difference, which is also the competitiveness of retailers.

Real Data Leads to Refined Management, Which Stimulates Retail Brand Value

“We not only provide equipment on data collection and analysis, but also think about application, say, how to maximize the data value on brand management.” Barnny holds that there is difference among customers in different business districts. “The biggest issue of new retailing is ‘how can I take my client as the center‘. In the past, we regard brand as the center and sell the products we want to sell. Now things have changed. We need to sell what the customers want.”

If we divided the China retail industry into three stages, we could see that 30 years ago, retail is just a kind of transaction between buyer and seller. 10 years ago, 2C business came into vogue. In the past 5 years, ERP gradually became the key word of retailing. Barnny said that no matter how it changes, the results will be finally reflected on transaction. The difference is that new retailing is more customer-centered.

The other feature of new retailing is the coverage of retail chain become wider, including online and offline, entity and virtuality. Big data helps to provide solutions for both physical and online stores.

“We are always talking about the improvement of customer experience. But what is experience? You sell what I exactly want to buy, that’s the best experience.”

Real Data Gives Retail Wisdom

“I believe that WINNER Technology will make sustained development on data technology. However, technology is not the goal. Our ultimate goal is to make the whole system more intelligent so that merchants could serve their customers better.” Barnny pointed out that WINNER Technology will focus more on the foundation of a new integrated commercial ecology in the future.

What is the “wisdom”of retail? Barnny explained that, “Different inputs lead to different outputs. We make corresponding judgment during intermediate procedures.”

There is no big gap between traditional retailing and new retailing. The real value of data or technology is to bring the joy of consumption back, making people enjoy the shopping experience.

So, what is the pleasure of life? Where is it really from? When talking about data, that is one core issue that we need to consider.

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