Retail is one of the most intense competitive industry. Therefore, retail owners have to follow business trends and technology in order to survive, especially people counting and tracking solutions. Mostly, brick and mortar business owners do not pay sufficient attention to the digital world and technology. This situation creates both advantages and disadvantages to the industry. On the one hand, owners or managers who catch the trends are boosting their sales, conversion rates, and service quality; on the other hand, unfortunately, the retail industry is not improving itself.
One of the most useful indicators is video analytics for vendors. It can include all in-store operation data. Being an effective manager is related to know and understand employees and customers. Here are some variations of video analytics.
People Counting as Known Footfall or Door Counting Solutions
A people counting is to measure the number of people who enter a store with an electronic device that placed on doors. It eases measure conversion rates. Conversion rates mean the percentage of shoppers who take the desired action that is purchasing. Managers can compare sales data and the number of people in-store thus, they can optimize marketing and sales strategies. In addition, they can easily allocate and control staff according to daily, weekly and hourly data. This allocation and management improve customer service quality. So, creating strong relationships and loyal customers is getting effortless.
These advanced reports also enable to oversight of the stock management and being prepared based on demands to avoid any malfunction.
Heat Map – To Be More Insightful
The heat map is a representation of data where the individual values included in a form shown as colors. By tracking shoppers, managers can see the most intense and calm spots in the store. These reports benefit in store operations from product layout to store communication. For example, products are which have high profit margin should is placed on warm spots.
Queue Management – Importance of Time Management
The final of shopping is to purchase. For the perfect shopping, this last point should be great. But if a shopper faces some timing trouble due to long queues, he/she probably will not come back to the store. For this reason, every store manager has to monitor the queue length and average service time daily and hourly. This video analytics helps to managers about pursuing every point of sales situation without wasting time.
Footfall also, known as people counting, refers to the number of individuals who enter brick and mortar businesses. Besides this analysis, people tracking is also a vital operation for the business. Footfall counting tracking benefits include;
Increasing sales and Conversion Rates
Every business aims to make a profit. Conversion rates are related to both people who enter a business and whether they buy products or do not. Conversion rates are essential values for vendors. But many retailers do not attach importance to this analysis. For this reason, most of them could not possess and manage effectively. Owners can easily measure their average sales rate per customer and create new marketing and sales strategies. Moreover, retail managers can benchmark the performance of different stores. This opportunity gives convenience and effective management for them.
Boost In-store Operations
People counting and tracking solutions can determine the whole shopper behavior pattern. Understanding customers is the key competitive advantage for retailers. Recognize them and optimize store according to their wants and needs. Make shopping easier for them and build a loyal customer!
Improve Store Service Quality
Nowadays, time is everything and nobody can waste it. Likewise, excellent time management always provides more productivity and efficiency. For the very reason, one of the crucial analysis is queue management system. Vendors should decrease the abandonment rate, so they have to be conscious of and move swiftly. This analysis helps managers about the average service time for cashier and queue length.
Any retail store aims to increase profit and minimize loss. Retail stores can avoid petty shoplifting and organized retail crime through the use of either footfall or door counting systems. These people counting systems provide retailers with accurate data on both the sales floor and fitting rooms that are fully staffed during vulnerable times. This process ensures that the customer is attended to and their actions monitored by workers.
Enhanced Staff Management
People tracking system can analyze store activities. When a business has a high traffic level, the management of customer service is getting harder. But if managers know average traffic and sale data in retail or mall daily, hourly or weekly, they can easily manage and control staff and allocate resources. After a while, retailers will see, customers will be their loyal shoppers thought they know what they need and want.
On the other hand, if managers control their employees effectively, create strong relationships with them so this becomes a win-win situation.
By scheduling shelf-stocking, cleaning, and other non-customer interaction tasks on days when fewer customers are expected, retail stores can minimize employee downtime.
All of these improvements show how retail industries benefit from the customer counting and tracking concept. Still, they are vastly overshadowed by the extraordinary benefits brought by today’s analytical programs, some of which can include such remarkable technology as heat-mapping and store optimization.
When you invest in a premium analytical tool, you’ll fly straight on past those pure through-the-door numbers and begin to analyze your customer traffic in ways you never could before!
Marketing and Promotions
Business advertises to create awareness. Foot traffic data provides retailers with information about the effectiveness of their store promotions and advertising campaigns. Consequently, retailers can assess the success of their adverts by racking the amount of traffic and sales conducted during the promotional period. Moreover, retail businesses can compare these data with that of the ordinary business operations and previous promotions to ascertain the effectiveness of the process. Therefore, people counting and tracking systems allow retailers to enhance their advertisements and convert browsers into buyers.
Every industry has high level competition in own category. To survive in this competitive movements is getting harder. Every manager and owners have to follow trends and technology to avoiding to be fall behind the times and competitors. As a matter of fact, managers/owners have unique skills with real-time and accurate data!
Analysis of footfall counters and tracking is critical in understanding store requirements. Making good use of people counting in retail data to meet customer requirements will significantly increase sales.