One of the most common complaints in retail stores is the queueing time at checkout lines.Shorter perceived waiting times improve service experience, customer loyalty and potentially market share. Shoppers needing to wait more than 5min for checkout, will try shopping at other stores; this behaviour is observed in 55% of the shoppers;33% will give up buying; and 32%will opt to buy online. This represents high costs and profit loss for retailers worldwide, meaning there is a valid business opportunity for new innovative and disruptive retail solution. The dimension of this problem is huge. E.g. Wal-Mart (US) says they can save 12M$ per year, for every second cut from the checkout process.
In this sense, the core product feature is mobile shopping and fast mobile in-store checkout through a YouBeep mobile App, where shoppers scan the products with their smartphone before placing them in the cart, and at the end, go to any available checkout counter and use their smartphone to checkout, completing the whole process in under a minute!
This product directly addresses the needs of two specific groups in different ways: i)Shoppers and ii) Retailers.
Shoppers want a more expedite, in control and cost wise optimized shopping experience. YouBeep provides a solution that improves convenience, and real savings, both in time(for not having to wait to checkout)and money (tailored discounts), ultimately benefiting from a better shopping experience. Shoppers are also important because they are an asset of the project!
Retailers want to provide a better service and experience to their customers, and at the same time save money through the optimisation of the checkout process(time & HR costs).For Retailers it’s also important to know their customer base, through Business Intelligence Data (Customer & Big Data Analytics), allowing continuous improvement of the in-Store experience, marketing strategy and installed business processes -SAVE TIME!, SAVE MONEY! and CAPTURE INSIGHT!
The objectives for YouBeep are:
•Rapid Deployment - Fast Installation -Just Plug-in;
•Compatibility - Compatible with every existing checkout;
•Zero Integration - No change is needed in POS Software;
•Low Risk/Total Cost of ownership (TCO)-SaaS Pricing Model;
•Support All POS features - Including payment methods, loyalty, coupons;
•Analytics - In Store localized promotions, Customer detection,Location based analytics, profilling;
•Security - Protection against theft: On-line Monitoring, Automated validation (weight based) and Random Audit.
