The retailer Kohl’s organizes an annual case competition to invite college students to provide their ideas for driving traffic back into the company’s physical retail locations. Kohl’s is performing well when it comes to e-commerce. However, the retailer is encountering problems to attract customers to their physical retail locations. To solve this, a group of college students from Penn State Harrisburg’s School of Business Administration came up with an idea that involved the use of iBeacon Technology.
Kohl’s Case Competition
Kohl’s invited 12 teams to participate in the case competition. The students traveled to the company’s headquarters in Milwaukee, Wisconsin to present their ideas to the Kohl’s executives. The idea presented to the executives of Kohl’s is supposed to help the retailer attract millennials between 18-34 to their stores.
The winning team developed an idea that involved the use of iBeacon technology. The use of iBeacon technology in stores is aimed to alert the shopper via the Kohl’s mobile application. Furthermore, shoppers will receive notifications for items that they might be interested in. This information is based on their shopping history. Besides, the student’s ideas also included the 80/20 rule to help the store declutter. This involves that 80% of the inventory will remain in the stockroom whereas 20% of the inventory is on display.
Whiles the use of iBeacon technology is a common one in retail, it can also be seen as a suitable technology to help reach the millennial target audience. Furthermore, the use of this technology enables companies to improve their customer engagement. In fact, it also provides the opportunity to reach the shopper based on their personal preferences.