New Wi-Spot 3.0 Displays Dramatically Reduce the Cost and Complexities of Deploying Retail Media Networks In Stores Where 85% of Retail Sales Occur
TEL AVIV, Israel, Feb. 28, 2024 /PRNewswire/ — Wi-Charge, the global leader in wireless electricity, today announced the easiest and most efficient way for retailers and brands to reach consumers in stores at the exact moment when they are considering a purchase. The release of Wi-Spot 3.0, the world’s only video display that runs on wireless electricity and can maintain a charge without batteries or electric wires, is a giant step forward for the retail industry that has struggled with the high installation cost and complexity of influencing consumers in physical stores. Wi-Spot video displays are being installed at a growing number of retailers in the United States, Europe, Asia, and South America, and the new generation Wi-Spot 3.0 will be broadly available globally beginning in May.
85% of purchases take place on store shelves, but only 1% of marketing budgets are targeted there due to the limitations of current technologies. It is a prohibitively expensive and time-intensive process for retailers to install electric outlets on store shelves or endcaps to power video displays. For example, if a typical large retailer wanted to install five video displays in each of its stores, it would cost an estimated minimum of $10 million on installation alone.
Despite these high costs, in-store video displays are growing fast, driven by retail media networks (RMNs), and they remain a high priority for retailers. Engaging, eye-level video displays provide an ideal way to drive high-margin advertisements and incremental revenue for brands by creating product interest, excitement, and loyalty.
Wi-Charge’s breakthrough and patented infrared wireless electricity technology eliminates the significant cost and complexity of installing in-store video marketing platforms by safely and efficiently delivering electric power over the air to the Wi-Spot video displays to provide constant and reliable power without wires. Since the displays are powered wirelessly, they are easy to move throughout the store and create a wide range of opportunities for retailers to generate revenue in more places in the store.
The Wi-Spot 3.0 includes a suite of backend data and analytics that provide retailers with vital metrics about the performance of the video displays in stores, including the number of impressions per day, by aisle, and by store. This unique analytics dashboard gives brands and retailers unprecedented insights into customer traffic and the exposure of marketing messages every day. This brings web-level analytics to a physical environment, the holy grail for in-store marketing.
“Retail media networks are the fastest growing ad space in the history of the advertising market. Until now, it was mainly focused online, yet today there’s a huge thirst to tap into the enormous opportunity of high-margin, in-store ad space. To do that, a critical technology piece has been missing, and it is getting power to the shelves easily and at low cost,” said Ori Mor, co-founder and chief business officer, Wi-Charge. “Wi-Spot video displays are the first technology to deliver an easy and inexpensive way for retailers to deliver compelling content to consumers while they shop. Our initial customers have experienced an average of 3x increase in in-store sales for products promoted by Wi-Spots. We’re excited to help retailers and brands unleash the full potential of in-store retail media across the entire store and not be limited anymore to only where power plugs are available..”
New capabilities in the Wi-Spot 3.0 include a sleeker design, higher video resolution, better analytics and CMS capabilities, and a more power-efficient processing unit. Wi-Spots are the most efficient display on the market and a giant step towards developing a sustainable retail media network infrastructure. Wi-Spot displays have already been deployed worldwide, generating hundreds of thousands of impressions per month and driving incremental revenue for retailers. Data from retailers that have deployed Wi-Spot devices proves that products promoted on Wi-Spot devices consistently outperform in sell-through compared to similar products in the same category, generating, on average, a three-to-four times sales lift compared to similar products not promoted with Wi-Spot.
For further information on the Wi-Spot 3.0, please email contactus@wi-charge.com or visit http://www.wi-charge.com/wi-spot
About Wi-Charge
Wi-Charge is a long-range wireless power company founded to enable automatic charging of cell phones and other smart devices. Our patented infrared wireless power technology can safely and efficiently deliver several watts of power to client devices over room-sized distances. Giving end-users freedom and product designers the power they need for the next generation of mobile smart devices, Wi-Charge is the power of the future, beyond batteries and power cords. For more information, visit http://www.wi-charge.com or follow us on LinkedIn.
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SOURCE Wi-Charge