The following blog originally appeared in the Atlanta Business Chronicle on November 28th, 2011.
CoreNet Global held its semi-annual summit in Atlanta recently.
Thousands of corporate real estate executives, service providers and economic developers traveled to our city to learn the latest trends in corporate real estate. While normally a confab to learn and discuss ideas in the office world, the event also featured an interesting retail story in one of the keynote talks.
Realcomm CEO Jim Young told an amazing story about a South Korean grocery store operator that significantly increased sales without adding one square foot of additional space (sorry, retail developers). UK based grocery giant Tesco - which later changed its name in the local market to HomePlus – now allows the store to truly come to the people in South Korea.
The marketing team created virtual stores that replicate their product on subway walls with sharp and lifelike pictures. The advertising team leased entire vertical spaces on the train platform. Now those spaces show pictures of food products that appear exactly as they would in the store. Busy, hardworking, and bored consumers can now shop by scanning the pictures with their smart phones. One can point the phone at a picture of milk, bread or hundreds of products. When you click, the product is added to the shoppers’ virtual basket. The the online purchase is completed and is delivered to consumers’ homes. Wouldn’t it be great if the staples showed up at your house in a similar fashion?
The shopping experience is sort of like Amazon.com on a public wall. By overcoming an apparent handicap of fewer stores than the leading competitor, HomePlus became the second best selling grocery store in the entire country. I’m impressed by their innovation and even more so by the results. The whole idea is profiled in a YouTube video the company cheerily produced to show off its success
What are the uses of this kind of technology for busy consumers in the United States? Where could you message your customers or employees when they have wait-time or downtime? I bet the walls at Hartsfield Jackson International Airport and MARTA will look very different in the coming years.
Static advertising suddenly seems so 2010. Come to think of it we need more milk at the house. Rats.