Just this week, Euclid Elements – a firm which is mostly composed of people that have founded Google Analytics – announced a new project with an initial $5.8 million initial funding. The aim of the said project is to provide physical stores or storefronts with a way to track or measure “traffic” that comes and goes from it.
With this program, a physical store is able to measure the foot traffic that it has, what is the average customer time of the store, the customer loyalty with regards online promotions and even the efficiency of its window displays and metrics.
Although the concept of this program is not really new – what makes this endeavor different is the fact that it actually brings the technology of Google Analytics at the forefront. How is this made possible? Through the use of smartphone tracking.
According to Euclid – each interested store will install sensors that will track and detect the smartphones of the people that enter the store. Upon detection, details, like coupon redemption and check-ins, are then entered into the dashboard of the program, showing the different metrics and rates that are necessary to determine the amount of traffic and support that the store has been getting.
And though there are some who question the use of smartphones as a tool for this program, its creators expect that in a short span of time the use of smartphones will become more popular as the days will come – which means that this program will become even bigger and better as well.