Chip to now track consumer behaviour in stores
Mumbai (PTI): A chip-based key has been developed by an IIT graduate that would prop up sales of general stores and other retailers by capturing consumer behaviour.
A new hardware-software combination designed by a company called ConsumerVision has been prepared using the Radio Frequency Identification (RFID) technology.
Around 500 kirana (general merchant shops) stores who are using the chip and the company's promoters are gung-ho about their product's capability.
With RFID, the stores are being able to identify customers the moment they walk in, their preferences, price-points they are comfortable with and other such other useful information. Besides, it also informs customers about the best offers in the store, ConsumerVision CEO and product architect (an IIT, Mumbai alumnus) Rohit Nalwade told PTI.
Started by IIT graduates and PGs, the company has already reached out to nearly 8,000 such stores pan-India and "500 of them have already joined hands with us," Nalwade said.
The company is currently housed in the Society for Innovation and Entrepreneurship (SINE) incubator at IIT Powai, which provides support to startups such as ConsumerVision.
Buoyed by the initial response, Nalwade said his company is now approaching kirana stores in different places such as Surat, Baroda, Mumbai, Ahmedabad, Nashik, Uttar Pradesh and others.
"The response from all the places is extremely good and we are aiming to provide this facility pan-India," he said.
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