RETAILERIN GOES TO CHILE: AN INTERVIEW WITH CRISTIÁN PARDO
Cristián Pardo associate at Par Cuatro tells us about the state of the retail analytics market in Chile and on the growth opportunities unlocked through the partnership with ThinkIN.
Describe shortly yourselves
Par Cuatro is a company with more than 10 years in the Chilean market, focused on achieving happier end customers. Using state-of-the-art technologies and a wide range of services and products, we focus on raising people’s shopping experience, gaining a deep knowledge on them and their behavior, and using it to generate great brand identification and recall.
How do you see the future of retail?
Despite the fact that in recent weeks various international entities have continued to cut their growth projections for Chile for this year, retail companies are optimistic about how their business will evolve. Along this line, most retailers announced a series of openings, investments and renovations in the country for the next months.
How is the retail landscape in Chile?
It is a very developed market, with many stores and small chains throughout Chile that compete against the biggest retailers of Latin America. Groups like Cencosud, Falabella and Ripley have been born in Chile and have expanded to nearby countries like Argentina, Peru and Colombia etc.
How are digital technologies (for retail) evolving in Latin America?
I don’t have full visibility on other countries in Latin America. As far as Chile is concerned, there are a lot of opportunities. Most stores in the country rely on very basic people counters and very few have evolved into heat map systems or 3D cameras. With respect to Wi-Fi sensors, we are pioneers in the country so we see a great growth opportunity over the next few years and want to position ourselves as a leader in tracking technologies.
Which are the benefits of implementing in-store analytics in retailers’ decision-making processes, according to your personal opinion?
The benefits are very clear. Today we have a very demanding client, a client that evolves very quickly. It is not enough to have a good product. We have to know the customer, learn from her behavior, analyze how she reacts to a change inside or outside the store, how she behaves at the launch of a product, etc.
Knowing how many people come in is a “weak” metric. It does not help me to know just how many people come in. I want to know how many people I am engaging and retaining.
Simple: Great technology, good value, versatile and friendly company.
What do you expect from this partnership?
I expect a long-term business relationship able to create mutual benefits, growth and continuous improvement.
Which is the value Parcuatro can bring to ThinkINside? And viceversa?
In Parcuatro we have more than a thousand customers in Chile, therefore, we believe that we have the ability to increase RetailerIN’s customer base in an exponential way. On the other hand, the alliance with RetailerIN is allowing us to start working in a business area that in the medium term will represent the future of retail.
What would you define to be the greatest value added RetailerIN can bring to retail businesses?
I think the greatest value RetailerIn can give is the ability to collect data and experiences from different retailers throughout the world, and to identify strategies that work and best practises. Many times the best ideas are much further than one imagines.