A beacon of hope for Woolworths
A beacon of hope for Woolworths? Every time Apple (NasdaqGS:AAPL) updates the software on my iPhone, it changes my phone's settings to switch on Bluetooth by default. The reason? Apple's iBeacon feature won't work unless Bluetooth is enabled. iBeacon uses Bluetooth wireless technology to notify retailers and other businesses when you come within a certain distance of their stores, allowing them to email you discount coupons or offers to entice you in. Once you enter, iBeacon allows them to monitor where you go in their stores. Woolworths (ASX:WOW) is trialling iBeacon technology in one of its eastern suburbs stores in Sydney. It potentially allows Woolworths to mitigate the perception that it is more expensive than Coles - owned by Wesfarmers(ASX:WES) - by sending customers pricing information, while learning more about shoppers' buying preferences as they work their way around the supermarket. This is just another example of how the internet is increasing the competition among businesses to the benefit of consumers and, if businesses like Woolworths get it right, perhaps it will benefit shareholders too. (VIEW LINK)
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