Viva La Retail: The Retail Renaissance Lives And Dies By The Connected Consumer
By Derek Peterson, Boingo Wireless
A retail renaissance is upon us, driven by a shift in economics, competition and exponential advancement in technology, per a new report from Deloitte. Mobile has emerged as the crown jewel fueling the resurgence, as digital devices are now central to the in-store shopping experience. Up to 90% of consumers use their phone while shopping in stores and retailers are increasingly enhancing digital transformation strategies to take advantage of the new mobile-powered shopping era across every vertical, from department stores and supermarkets to hardware, sports and specialty retailing.
Digital shelf edges, mobile payments, concierge services,
kiosks, cloud management, augmented reality (AR), virtual reality (VR) and
productivity apps for store associates are all among the solutions that can augment
operational efficiencies, open data opportunities and create a captivating
in-store experience.
At the heart of these and other tech initiatives is a robust wireless network that can stack up to retail demands, power seamless connectivity and flourish in a 5G world. An advanced cellular network is crucial, as a lack of mobile coverage not only frustrates shoppers, it can mean a world of missed opportunities for retailers — including the biggest of them all…lost revenue.
Neutral host cellular solutions utilizing small cells are seeing rapid adoption in retail for bridging the wireless gap and — perhaps what’s most compelling to retailers — creating new revenue streams. Here’s a fast guide on what to know about this trending retail technology that is becoming paramount for any digital transformation strategy.
Small Cells, Big Opportunities
A small cell is just like the name implies: it’s a mini cell site that augments cellular service for shoppers and staff alike. Its purpose is to solve a building’s wireless capacity and coverage issues. Instead of depending on signals from traditional towers miles away that struggle to penetrate buildings, coverage is brought inside the desired retail location and boosted via small cells that are discreetly installed and designed into a cohesive cellular network, resulting in better connected employees and customers. This is a must for the retail renaissance.
Neutral Host Is Key
There are many factors to consider when building or upgrading a wireless network to stay competitive and move with the times, but the one aspect that should take precedence over anything else is a Neutral Host model. Unlike monolithic networks that cater to one technology or one operator, Neutral Host is a carrier- and vendor-agnostic shared platform, supporting all wireless standards and protocols. Coverage will be consistent regardless of what carrier you and your customers use — AT&T, Sprint, T-Mobile, Verizon or others — which is huge. Building a network with one carrier should be avoided as it’s a risky move that can leave out important customers.
Let’s Talk Money
Like any business, at the end of the day, technology should be about improving your bottom line. First and foremost, view Neutral Host small cells as what I like to call the magic behind the gadget. The technology helps enable a digital in-store experience that can drive more business. Looking at the build of the network, small cells are a low-cost solution that may see carrier contribution. They are designed to augment existing infrastructure on-site, which can further drive down cost. Also keep in mind that third-party small cell providers like Boingo do not require capital investment to launch the network, and implementation is low impact to get up and running.
The retail renaissance has arrived and new wireless solutions are making their mark. How will you benefit from the industry’s rebirth?
Derek Peterson, Ph.D., is Chief Technology Officer at Boingo Wireless. Dr. Peterson is responsible for the company’s technical vision and strategy. Under his leadership, Boingo is pioneering the adoption and deployment of the latest wireless network technologies for retailers. Improving in-store wireless coverage enhances the customer experience and boosts operational efficiencies. Dr. Peterson is a board member of the Wireless Broadband Alliance, MulteFire Alliance and New IP Agency, and a founding member of the Wireless Infrastructure Association’s Innovation & Technology Council. He was named “CTO of the Year” in 2017 by the Los Angeles Business Journal and a 2015 “Wireless Industry Executive to Watch” by FierceWireless.