London: Samsung is experiencing a new business model by announcing that they will install video walls in several European retailers’ shops. With the world being dominated by smartphones and tablets – a market for which Samsung acts as one of the leaders – consumers modify their behaviors, as well.
What Samsung aims at achieving with the new solution, presented at the Samsung Innovation Centre in London, and after running a trial at Dixons, is to meet digital consumers’ demands in regards to how they are ordering the things or services they intend to buy.
The giant tablet like video wall basically allows anyone interested to swipe through a catalogue of products, as they would on their personal mobile devices. The experiment, so far, proved to be successful, with 60% higher conversion rate, compared to an analogue arrangement of 20 items.
Samsung will offer their video walls for free during the first stage. The exact methods of monetization are not yet disclosed, as the company could rent the devices to retailers, or simply ask for a cut based on the sales registered through the video wall installed in each shop.
One thing is clear: the Korean based company is looking out for the digital consumers of tomorrow. While these consumers may still be young, they will make for the large mass of office workers a few years down the road, and offering them the possibility to buy things using the same functionalities they are accustomed to right now can prove a very profitable venue.