Retail Analytics SaaS Idea

Retail Analytics Overview

Problem

It's nearly impossible for retail stores and other physical locations to obtain useful analytics about their walk-in customers. Having access to this type of data can help store owners make more informed decisions about future marketing strategies, product inventory, and improve the overall customer experience.

Solution

Build software that uses machine learning to analyze video from in-store security cameras. It can anonymously track customer movements as they walk around in the store to calculate metrics like walk-ins per hour, time spent in each department, average checkout time, etc. Think Google Analytics for physical locations.

Business Model

Revenue Stream

B2B › Subscription

Charge business users a monthly or yearly subscription fee for software usage. You can create different packages with specific features that target different types of businesses like SMBs and enterprises.

Marketing Channels

Affiliate Marketing
Conferences
Content Marketing
Direct Selling
Email Marketing
PPC Advertising
Referral Program
Social Media
Telemarketing
Television
Word of Mouth

Buyer Persona

Demographics

Occupation	Chief Marketing Officer
Personality	Analytical
Age	21-55
Gender	Male, Female
Location	World
Education	Undergraduate Degree
Income	$80K - $350K

Motivations

Goals

Achieve revenue and profit growth
Improve customer experience
Maximize impact on the business

Frustrations

Discover meaningful KPIs
Meet growing customer expectations
Continually prove marketing value

SWOT Analysis

Strengths

Perfect time to take advantage of cloud services like Amazon Rekognition for API-based video analysis
Low overhead and ability to execute quickly as a startup
Other strengths your team may possess

Weaknesses

May require funding or personal capital for processing large amounts of video data from in-store cameras
Difficult to reach and market to offline businesses
Other weaknesses your team may possess

Opportunities

Number of physical businesses are growing across the world
Broad market includes cafes, restaurants, hotels, schools, hospitals, day cares, department stores, jewelers, etc
Very low competition for physical business software

Threats

Customers may not like being recorded anonymously
Unforeseen partnership issues like co-founder leaving or Amazon shutting down thier video analysis API
Competitors offering similar software in the future

Market Size

Total Available Market

$7.1B

Potential Available Market

$1.4B

Target Market

$50M

Total Available Market

Total market you can theoretically reach if there were no competitors like all retail stores across the world. Also called Total Addressable Market (TAM).

Potential Available Market

Segment of TAM you can potentially reach if you were a market leader like most retail stores in North America. Also called Serviceable Available Market (SAM).

Target Market

Portion of SAM you can realistically reach in the first few years of your business like specific department stores the US. Also called Share of Market (SOM).