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WirelessDevNet.com Press Release
QR Codes To Drive Action Oriented Proximity Based Marketing To $2.3 Billion By 2016
The demand for action oriented proximity based marketing solutions produced exponential growth in 2011 and the market is poised to expand to $2.3 billion by 2016 according to a report published by Smith’s Point Analytics. NFC tags, QR codes, proprietary 2D barcodes and emerging technology such as computer vision are enabling brands to leverage new channels to reach consumers through proximity based marketing strategies.
While QR codes have seen main stream adoption in Japan, increased usage of the standard QR code outside of Japan is driving awareness and growth. The minimal cost of creating standardized QR codes is incentivizing businesses of all sizes to experiment with proximity marketing strategies, resulting in a soaring number of QR codes created. With more codes in the market mobile users are beginning to recognize these codes, understand what they are for and interact with them.
“QR codes and proprietary 2D barcodes are popping up everywhere and we estimate that outside of Japan, 164 million unique codes will be created in 2012”, said Peter Crocker, author of the report.
While the growth of proximity marketing enables brands to reach consumers at the right place, with the right message and when they are most acceptable to advertising, the growing trend has important strategic implications for retailers as well. Emerging mobile shopping and price comparison applications allow consumers to search for and purchase merchandise seen in a store through online retailers. In a scramble to stay relevant in the value chain, brick and mortar retailers are looking for ways to counter this trend and keep transactions from migrating to the web. Proximity marketing provides an important weapon in this battle. Smith’s Point Analytics believes that in the near future store owners will use barcodes and QR codes to capture user attention, keep it and make deals before users have a chance to buy through an online retailer. Emerging small cell technologies including the pairing of Bluetooth, NFC and Wi-Fi will also enable retailers to control the users’ connection to the web and influence their experience while in the store. According to the report, this trend represents ripe opportunities for proximity base marketing solution providers.
About Smith’s Point Analytics LLC
Smith’s Point Analytics LLC is an independent market research firm focused on emerging mobile and wireless technology. Founded in 2009, the company provides a wide range of consulting and research services aimed at developing a broader understanding of technology and market changes.
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