Singapore retail-tech company, Aimazing, with its retail data platform, is enabling mall operators to leverage technology to capture, structure, and sort real-time retail transactions. Compared to e-commerce platforms retailers with physical stores have to wait to sort the data gathered from the day’s transactions.
What Aimazing does is it gives retailers, such as malls operators, access to data in real-time. Access to mall management data such as consumer purchasing behavior, sales, and performance will allow them to make decisions depending on their sales objectives.
“We aim to enable shopping malls to support their retail tenants in making decisions by understanding data such as peak shopping periods in the malls, average basket size, best selling items, and how various categories of merchants from F&B to clothing and retail are performing in real-time,” said Jun Ting, CEO, Aimazing. “This data has already been widely available to e-commerce marketplaces but not to physical retailers and mall operators. We aim to bring physical marketplaces to a level the playing field with this data visibility.”
Aimazing’s hardware solution in the form of a tiny black box can be plugged into the Point of Sale (POS) systems of retail businesses. This technology used is similar to the image recognition that Google Translate uses. Data from the receipts are then analyzed and organized through a machine learning engine and directly uploaded to the cloud where mall operators have direct and real-time access.
Aimazing solutions are built to allow mall management and retailers to achieve data visibility through custom development, mall marketing, in-mall royalty, benchmarking, and gross turnover (GTO) solution.
According to Aimazing, at present, it processes three million data points a month from more than 1,000 devices in the region and there is a pipeline of 10,000 devices to be implemented in the next 12 months. Successful pilot projects include a completed project with Hong Leong Holdings through Enterprise Singapore’s Open Innovation Challenge Programme, and other projects live with malls in Singapore, Malaysia, and the Philippines.
Aimazing’s proprietary technology allows mall management to seamlessly and accurately capture all transactional data in their mall without expensive integration, while their data platform provides performance and benchmarking reports, as well as the ability to customize complex recommendation engines for multiple use cases.
Founded in 2015, Aimazing is headquartered in Singapore with operations in Malaysia, the Philippines, and Taiwan.