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Advancements in artificial general intelligence (AGI) technologies and novel business models have enabled the emergence of "smart retailing" approaches that allow retailers to expeditiously and proficiently glean insights into customers' offline behaviors, ascertain the efficacy of marketing initiatives, optimize targeted advertising, catalyze in-store patronage, and facilitate brick-and-mortar enterprises augmenting profitability through traffic monetization.

We discuss the technological advancements enabling smart retailing and demonstrate how marketers can glean insights from emerging data sources. We examine a specific case wherein researchers accurately calibrated the societal density within stores at the hourly level, leveraging intelligent traffic monitoring systems installed in 1,800 brick-and-mortar outlets across the shopping centers of a major commercial real estate conglomerate in China.

We find aggregated in-store societal density augments both store visits and revenue, while catalyzing substitution between consecutive shopping excursions - customers are prone to prolong present trips while postponing subsequent ones upon encountering heightened densities. Though greater patronage is observed in outlets with higher densities, increased revenue is derived primarily from members with lower status (and to a greater extent, non-members) while the substitution effect manifests predominantly among members of the lowest status. Finally, suggestive evidence proposes younger, male members with extended tenure contribute more substantially within stores as density escalates, however, the substitution effect remains homogeneous across these cohorts. These conclusions illuminate the holistic ramifications of societal density during and between customers' shopping trips and provide rich managerial implications for contextually-based marketing.

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