Getin a Mexican Startup Shaping the Future of RetailBy María Fernanda Barría | Thu, 05/27/2021 - 07:31
After experiencing prolonged lockdowns as a result of COVID-19, physical retail stores and shopping centers are getting ready to go back to business. In an effort to help retailers maximize on this opportunity, Getin, a new startup, helps them understand customers' shopping habits and behaviors
Getin was founded in 2016 by Anabell Trejo, Francisco Álvarez and Matías Hapanowicz and it offers two solutions or pathways for physical retail stores to optimize and grow their business. The first one is "path tracking," which allows understanding the store's design by identifying the most attractive areas for the customer. Also, it allows measuring, which means how much time a customer spends in specific locations and determines how attractive a product line is, according to the company's website.
As opposed to e-commerce, where retail stores have been forced to change strategies to better understand their markets and companies have had to learn about e-commerce strategies to stay relevant and updated, physical retail stores cannot count on such strategies. Anabell Trejo, CEO and Co-Founder of Getin, told MBN that it is simpler to gather data within a website or platform, "with e-commerce, it is easy to know how many potential customers an online store has, the purchase conversion percentages, the impact of marketing promotions, and above all to know in detail the purchase process of each user; in this area, physical stores are at a disadvantage."
Nevertheless, this disadvantage to gather information should not restrain physical stores from gathering much-needed information. Instead, Getin provides "people counting," which helps determine how many visitors enter the store and how many potential visitors could enter its premises. . The technology implemented by Getin allows physical stores to gather concise data as they present information of "unique" visitors on a daily and hourly basis, not counting employees or suppliers. In addition, the startup offers to discover and understand "peak hours" in order to detect the most sales opportunities.
There is no doubt e-commerce is on the rise and the pandemic changed consumerism patterns. Nevertheless, physical retail stores are not going anywhere and they serve as a basis for consumer habit studies and behaviors. For example, Getin has shown us that a person is more prone to buy something in physical stores because it involves an authentic and unique experience. It allows customers to interact with the brands first hand. "Purchasing experiences and processes are related to our own human development. We need to feel, see and touch what we are going to acquire," Explained Trejo.
Getin recently participated and earned first place in the competition "Startup OLÉ Mexico 2021," considered one of the most significant European technological entrepreneurship events for startups in Latin America. Getin has been implemented in several retail stores in Mexico, Argentina, Chile, Guatemala, Panama and Colombia. One thing is for sure, retail in the future will need to attract more customers and today, several companies are investing in technologies that will help them reach their goals.