Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The YFind Positioning System is a low cost, WiFi-based indoor positioning solution that enables retailers to track the movement of individuals indoors and engage them through highly targeted location-based services.
Singapore, January 3, Sprooki, Asia’s first local marketing system for retailers and YFind Technologies, owners of patented indoor-positioning technology announce a partnership to provide a seamlessly integrated indoor and outdoor location-based marketing solution for the retail sector.
Singapore-based Sprooki will integrate the YFind Positioning System (YPS) within its local marketing system, which consists of customisable mobile applications and location-based campaign management platform, SprookiManager. As part of the agreement, Sprooki will represent YFind Technologies in Asia-Pacific, offering the integrated solution to their current and potential clients, which include malls, department stores and major retail groups in the region. In a reciprocal arrangement, YFind will offer the integrated solution to potential clients outside of the region, including the U.S.
“Sprooki and YFind are a natural fit for each other. The combination of YFind’s patented positioning technology and Sprooki’s end-to-end local marketing platform and mobile applications results in a more powerful, cost-effective solution for retailers looking to engage with shoppers in and around the store,” said Claire Mula, Managing Director and Co-Founder of Sprooki.
“A combined outdoor-indoor local marketing solution helps retailers to more accurately incentivize and measure foot-fall. It offers retailers the opportunity to combat showrooming through discrete targeting of offers and rewards based on metrics such as time in store, visit frequency or walk-out behavior,” said Melvin Yuan, Director and Co-Founder of YFind Technologies.
The growth in internet-enabled devices and mobile commerce in Asia is an opportunity for traditional retailers and malls to engage with shoppers when they are in and around their stores. Through outdoor location-based marketing, which typically relies on GPS, retailers can send targeted messages and offers to pedestrians and outside traffic based on demographics, time and proximity. Through indoor positioning, retailers can also track, reward and incentivize shoppers based on indoor metrics such as walk-ins, common routes and visit frequency. As today’s path to purchase is non-linear, Sprooki’s solution also offers the option for shoppers to buy through their mobile devices at any point in their discovery process, driving them back to the store to redeem.
How Sprooki works
A South-East Asia first, Sprooki’s white-label location-based retail system is a customisable platform with consumer-facing applications and web-based campaign management, scheduling and reporting tools. Malls and retail groups are able to schedule promotions, offers and events to appear in their own applications or as location-targeted messages “on the fly”. They are also able to manage and track coupons downloaded, purchased and redeemed by their customers. Irrespective of whether the mobile application is open or closed, shoppers will receive relevant, targeted alerts of special promotions and offers when they are in direct proximity of the mall.
Shoppers download their favorite mall or retailer’s branded application on their mobile device, they are then alerted to relevant promotions and events based on their location, profile, brand preferences and time of day, irrespective of whether the mobile application is open or closed. Shoppers can download coupons and walk in-store to pay and redeem or pre-pay directly through the retailer’s application on their mobile devices.
Sprooki’s local marketing system, developed in Singapore but available to retail clients across Asia-Pacific, helps malls and retail groups to engage mobile shoppers when they are most likely to respond -where and when they shop.
How YFind works:
YFind is an indoor positioning solutions company, based in Singapore, focusing on “indoor GPS” infrastructure for venue owners including (but not limited to) shopping malls, retailers, and airports.
YFind’s core service, the YFind Positioning System, or YPS, is a low cost, WiFi-based indoor positioning solution that enables retailers to track the movement of individuals indoors and engage them through highly targeted location-based services. Foot traffic is then tracked minute- by-minute, 24/7, providing retailers with immediate snapshots of customer behavior, as well as long-term performance trends and analysis.
YFind also offer a location intelligence dashboard, TheRetailHQ (TRHQ), which tracks and analyses shopper footfall and movement in real-time. It allows retailers to better understand how shoppers behave, where they spend their time, how they move throughout the store, and how well they respond to promotions. As a result, retailers can make intelligent decisions based on real customer behavior data (as opposed to relying on surveys and other less-precise forms of sampling
Most importantly, TheRetailHQ (TRHQ)solution offers tools to generate quantifiable, traffic-based ROI for advertising and promotional campaigns, with technology that accurately measures the effectiveness of marketing programs based on real footfall data.
For more information please contact:
Kevin Mayberry Melvin Yuan
Lages & Associates for Sprooki YFind Technologies
949-453-8080 Phone: +65 9753 7917
Email: email@example.com Email: firstname.lastname@example.org