inMarket, one of the world’s largest beacon platforms, says its analysis shows its platform influenced $14.5 billion in consumer spending during the Black Friday weekend.
The platform noticed 370 percent more beacon detections than the same time last year, showing the rise in beacon engagement from both consumers and retailers in 2016.
Beacons send notifications to potential customers in the nearby area, which alerts them to deals, freebies, and other enhancements. inMarket provides the platform for retailers to push notifications to mobile devices, which reaches 50 million people in the United States.
“Over our six-plus year history, we’ve seen a lot of trends in the echo chamber. The guiding light for us has been to drive value for consumers enabled by new technology. We focus on the user, not the tech or the hardware,” said inMarket CEO, Todd Dipaola.
Significant growth in 2016 but much more to be had
inMarket experienced a 223 percent growth in clients during 2016, adding top brands such as Heineken, Clorox, Energizer, and Rite Aid. According to Johnsonville Sausage, another inMarket client, the beacon platform provided a 24 percent increase in sales.
“The world has never experienced a more disruptive or relied-upon technology than mobile, and I have never seen anything as powerful within mobile as the precision data and personalized experiences created from beacons. The hundreds of partners in our beacosystem agree,” added Dipaola.
84 percent of shoppers use their mobile devices while in stores and, according to inMarket, 55 percent use a mobile to aid their purchase decision. That has risen heavily in the past few years, making beacon engagement all the more powerful.
Beacons are still not ubiquitous in stores and plenty of smartphones users have never received a notification, but the rise in engagement should lead to more adoption from retailers across the globe.