Women’s clothing retailer Rebecca Minkoff opened its first “connected store” in SoHo, NYC last November, integrated with in-store tracking technology powered by eBay. The platform identifies how customers are interacting with products, such as which items are taken into the fitting room, and what’s being purchased or left behind. The brand has also made changes to its collections based on the insights gained from the tracking data. Almost a year later, the brand has seen some great success, reportedly selling three times more than anticipated.
What Brands Should Do
Traditionally, retail brands tend to focus on analyzing purchase data to determine inventory and corresponding promotional strategies. Rebecca Minkoff’s successful experiment with comprehensive in-store tracking shows that retail brands need to pay attention to other behavioral data that indicates purchase intent, even on a granular item-by-item base, so as to better understand their customers.