ZOYI Co. expanded its analytics service, ‘Walk Insights,’ into the Chinese and Japanese markets starting on August 21, 2014.
Walk Insights is a comprehensive data analytics solution that collects and analyzes visitor data in retail stores using smartphone Wi-Fi signals. This method contrasts with other popular data mining platforms, which trace consumer patterns using systems like infrared sensors or cameras.
To those unfamiliar with the state of the country’s technological permeation, the idea of primarily relying on a customer’s Wi-Fi signals to format marketing campaigns may be puzzling.
According to Google’s Our Mobile Planet, South Korean smartphone permeation was marked at 73% in 2013, which means that 73% of all South Koreans own and use smartphones. Accordingly, the near ubiquity of mobile devices in the country has contributed to the burgeoning success of Walk Insights.
That Walk Insights now supplies its tracking devices to foreign clients like China-based mobile communication giant FunTalk suggests that it has potential to shape the marketing industry beyond the scope of its local clientele. (Smartphone penetration in China and Japan are 46.9% and 24.7%, respectively, and rising).
With increasing global permeation of smartphones, ZOYI Co. offers formidable competition against more established data mining solutions like RetailNext and Euclid Analytics. Both RetailNext and Euclid Analytics include mobile Wi-Fi tracing features in their services as well, but their capabilities are limited by their clients’ existing infrastructure. Brick and mortar businesses with substandard Wi-Fi systems are not able to profit from them.
Walk Insights, on the other hand, involves the installment of a simple, portable device in a store or shopping mall. Using the data obtained through the installed infrastructure (dwell time per zone, visitor retention patterns, correlation with weather, device manufacturers, and more), Walk Insights then provides high-quality analytics tailored specifically to the store type.
Walk Insights has been pulling in impressive investments from venture capitals. It may have potential place in the Western market as the U.S. smartphone penetration was marked at 56.4% in 2013. This is a staggering jump from 43.5% penetration in 2012, and according to leading Internet statistics company Statista Inc., the trajectory is expected to continue.