Macy's surprised investors by announcing it would be partnering with Shopkick to utilize Apple's (NASDAQ:AAPL) iBeacon technology. iBeacon was mentioned during Apple's official iOS7 announcement, but Apple has been rather silent about the technology since. However, this gives investors a glimpse into the technology's capabilities.
What is iBeacon?
iBeacon utilizes bluetooth technology to pinpoint your location and transmit information on the basis of proximity. The technology has been called indoor GPS. The end result is a more tailored shopping experience with personalized displays, coupons, and product. Macy's isn't utilizing iBeacon's full capabilities, but the possibilities are intriguing.
Apple's retail possibilities
However, the real winner here is Apple. Getting Macy's to participate in this new technology is a big win. Also, this has huge implications for Apple's own retail network: Newly hired retail head, Angela Ahrendts, has a vision for this technology.
In this clip from Motley Fool's Tech Teardown, Jamal Carnette talks iBeacon with Evan Niu, CFA.