For some retailers, a sign is simply a static holder of practical information. For centuries, what else could a retail sign really do? But now, smart signage with sensing technology offers an opportunity to enhance business operations and provide much more value than just listing prices or product info. Smart signs can yield critical insights into customer preferences and behavior.

The Hero series by Retail Aware Partner Firebolt features smart signs specifically designed for the cannabis industry. The newest product in the line is the Hero XR, which stands for extended range. “We have embedded proximity and lift sensors within a lighted fixture that captures and relays engagement data to a real-time dashboard for business intelligence,” Firebolt Chief Growth Officer Scott Hauman said. “Paired with our super-thin Krystal-LED technology, the Hero XR offers brands and retailers a brilliant presence and real-time engagement data never before seen in a quick-turnaround, custom-built retail display solution.”

The Hero XR provides detailed dwell data and can measure how many customers interacted with a product display and for how long. It also can determine when a customer picks up a product from a shelf and examines it—even if they do not purchase the item—and extract key data from the interaction. For instance, the sense technology that helps power Hero XR may be able to determine shopper appeal and help influence future sales and marketing strategies. After extracting raw customer data, the embedded technology transmits the information to a base station, where it is uploaded to a cloud server for easy retrieval.

The data cultivated by the Hero XR takes the guesswork out of retail strategy. Great product displays can have a positive impact on sales, but figuring out the merchandising plan that will generate the most sales is still a bit of an art form. Firebolt can help operators determine exactly which displays are worth their valuable retail space.

“Retail brands and display companies spend a lot of money creating eye-catching product displays that make consumers want to purchase more of a product,” Hauman said. “The challenge here is, it is difficult to actually measure the monetary impact those product displays have had on overall sales and brand performance. Sense technology can be used on product displays to measure the [return on investment] and optimize future displays for higher returns.”

This information can be critical in developing the visual appeal and vibe of a brand. Digital marketing remains important, but Hauman believes fully leveraging the power of a physical space is a bigger driver of sales.

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View the full story as it appeared originally in MG Magazine.

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