Is your business doing numbers? Many businesses tabulate their revenue in dollars and cents, but your foot traffic is the key. Without customers, you’re not doing numbers at all. In fact, keeping track of how many people attend your events is also important. Knowing how many people are attending your events or are frequenting your store can help you in many ways. Advances in technology give business owners an opportunity to keep track of their foot traffic.
How To Utilize Door Counters Benefits
Door counting provides advanced retail business insights on shopper psychology, behavior patterns and attitudes while in your store. Door counting system is an important feature of managing a successful brick and mortar retail.Smart traffic analytics from the right company can send your business or event in the right direction and lead to your revenue soaring.
People Counter System In Retail
People counting in retail gives you an opportunity to evolve with the trends of traditional technology. If you’re looking for ways to bank new customers and/or trying promotions or media resources, people counting technology can give you a firsthand account of your success or where you’re lagging. For example, retail people counting can tell you what area of your store is getting the most traffic. You can also get a grasp of customer behavior, reduce inventory losses, analyze peak traffic flow, adjust staffing levels, and more.
Multi-dimensional people counting technology can help businesses many important areas involving data that include:
Follow customer behavior
Analyze customer metrics
Capture customer attention
Raise conversion rates
Conversion Rates Measuring By Counting People
One of the most important benefits of retail footfall counting provides store’s conversion rate. The conversion rate is how many customer enter within a store are converted to sales.
Let RetailFlux Help You Unlock The Power Of Analytics
As a revolutionary retail analytic platform, RetailFlux has many technological resources that allows your business to benefit from exclusive insights from people counting. Our plug and play platform is guaranteed to work for your retail or event. We’re dedicated to helping you keep track of everyone on the scene while providing a detailed heat map report that includes a 98.7 percent accuracy rate. You’ll never have to worry about unexpected hardware failures or bandwidth throttling with our solid technology platform. You’re encouraged to contact us at RetailFlux for more details on advanced people counting technology today.
The competition from a booming e-commerce market and the waning effectiveness of traditional marketing channels present significant challenges for shopping malls. Another equally important obstacle keeping shopping malls from gaining competitive traction is a lack of customer insights. Online retailers have a decided advantage because they know when their customers visit and what they buy as well as how to attract various customer segments.
Shopping malls, however, have traditionally measured success by total revenue or category levels combined with a basic visit door counting system. These numbers offer a general representation of how well a shopping mall is doing but lack the fine points of customer behavior that could boost a mall’s sales per square foot/meter performance from good to great.
Using Technology to Look Beyond the “Theoretical Shopper”
What if your mall implemented a people counting system that gathered far more information than basic door counting hardware? This is a system that uses video analytics to provide accurate, actionable data about your customers’ movement and location in real time. It also provides visitor analysis at POS locations as well as for mobile and PC applications in other locations? Having this data at the ready helps you as the shopping mall owner make informed decisions about how to drive sales to your property and how to choose the right tenant mix.
The Ways People Counting Analytics Can Give Your Mall a Competitive Edge
Today’s leading shopping malls leverage key performance indicators (KPIs) of visitor analysis to enhance customer experience in innovative ways. Through people counting analytics, you can use the same methods to take steps in attracting more visitors who become customers and in keeping those customers coming back.
Here are some important ways the data from a people counting system can work for your mall:
Track accurate real-time data historically. Compare visitor data from yesterday, last week or last year.
Perform bench-marking. Find out what’s working well in your best-performing mall in order boost performance of your other malls.
Capitalize on your mall’s “power hours”. Focus your marketing campaigns and events on peak hours.
Discover the areas in your mall that are attractive to visitors. Compare foot traffic in interest areas such as food court, cinema, and game rooms/arcades.
Gather data on specific floor entrances. Learn how many visitors enter at a given floor of your mall.
Set realistic rents. Count number of people within each store in mall. Optimize rent of key store tenants.
Optimizestaff requirements. Assigncleaning and security staff according to the number of visitors during peak hours for improved customer experience.
The analytics from a people counter can aid you in advancing the customer’s journey at your shopping mall. To request a demo, contact us today.
One advantage a retail store enjoys over online sales is in the convenience shoppers have to inspect and try out goods before completing transactions. For this reason, retail stores can align with the emerging trend of e-commerce.
With the changing dynamics in the retail industry, physical stores have to put into consideration other aspects to stay at the top. Chief among the informing tool’s is people counting. This approach plays a significant role in the provision of insights while also acting to provide outstanding customer experiences.
If you’re wondering how door counting can work to change the dynamics of a retail store. Here are some of its spin-off effects.
Finance and Operation Yardsticks
Key performance indicators (KPIs) direct a business entities management of financials and operations. The markers generally concentrate on sales, gross/net profits among other financial parameters. For the key performance indicators to succeed, it is vital to have established baselines. This control check works out traffic responsible for generating sales, in addition to actual store visits.
In doing so, it is possible to calculate the overall conversion rate and also identify the particular category of merchandise that is bringing in the sales. As a way of measuring performance, the key performance indicators track the following:
Number of visits within a given period
Aggregate conversion rate
Invoice conversion rate
Conversions per given category of product sales
Attach scores (in cases where accessories sell along with leading products)
Customer visits to a specific area or zone of the store
As a critical driver of growth, excellent customer experience compels shoppers to buy more from a given store. People counting video analysis reports, therefore, are essential to help business owners identify the appropriate times to put forth the best sales efforts. This approach allows the owners to track hourly/daily/weekly/monthly buys and understand consumer trends better.
This way, it is possible to have a proper allocation of hours to sales personnel. In the retail world, personal touch, interaction, and consumer experience are the real difference makers, and this calls for the right faces at the right time.
In an era where physical stores are aligning with an online presence, the same approach of online stores may not work as efficiently with your retail stores. To provide the best customer experiences, people counting is vital.
People counting is an important facet of managing a successful retail location. The chances are if you own a retail location you also understand the importance of properly understanding its foot traffic. People counting is a more accurate method of doing this.
Better understanding this data allows us to better understand interesting details about what is happening after people enter your store. If we use this data correctly, we can even understand what is propelling customers to enter a store in the first place.
For example, we can understand the success rate of a particular ad campaign through people counting. This provides by measuring the increase in foot traffic, and perhaps even the location of the highest trafficked areas within your store. This can then be compared to existing data regarding the foot traffic your store typically draws.
One of the most important things people counting is a store’s conversion rate for helping us understand. The conversion rate is how many shoppers within a store are converted to purchasers.
But this isn’t the only thing we can better understand through people counting.
Many retailers focus merely on transactions to better understand the number of customers they serve every day. The problem with this method is that it’s ineffective for truly understanding the full picture. For example, you can’t measure your conversion rate if the only information you have is about how many successful transactions you make.
And, don’t non-buyers matter? The truth is that they matter a whole lot because they represent a number of people that could have been potentially converted to customers.
Also, better understand your store’s foot traffic will allow you to more appropriately schedule employees to handle the demand. Is traffic in your store typically slower in the evening? That means you’re potentially wasting money if you’re over-scheduling your staff during that time.
That’s not all. Through better understanding the “hot spots” of your store, you can place products in places that are most likely to generate sales. You can also move less popular merchandise to more appropriate areas.
Finally, franchises can even use data regarding their conversion rate to better understand how their stores rank comparatively.
How RetailFlux Can Help You
So, we now understand the importance of door counting. That doesn’t mean it’s become any less difficult to implement. If done manually, people counting can be a pretty arduous ordeal.
Here’s where RetailFlux comes in. Our products are so trusted they’ve already been installed in 5,000 different places. They’re also accurate, with a 96% rate of accuracy.
Our products have a host of benefits. They can allow you to measure traffic in real time and adapt to the specific conditions of your store. We not only offer people counting services but also heat maps, route maps, queue monitoring, zone and shopper flow analysis.
Running a store is complex. Allow RetailFlux to help you.
Since the early 1970’s, when people counting was first introduced into the retail world, this method of tracking customer volume and movement has been an effective part of retail marketing strategy. Nowadays, sophisticated technology allows businesses to collect highly detailed data on not only how many people shop at their establishment. But at what times of the day or week, in which areas of the store, and for how long.
Why is people counting such an important part of retail marketing?
There are several reasons, including the following:
People counting allows retail stores to determine their busiest times during the week. This means that they can ensure sufficient staffing levels for the high volume times. Also pare back the number of workers on hand during slower periods.
Advanced people counting techniques allow companies to analyze how they can most effectively improve in-store customer service. For instance, if customers regularly spend long stretches of time in a certain department, then management can ensure that associates are on hand to assist in that department as needed.
People counting is one way to measure the effectiveness of a promotion, or other marketing initiative. Detailed information gathered from people counting statistics can help store manager. Other executives determine whether their marketing outreach has accomplished its purpose, or whether they need to switch gears and try another approach.
Counter system can also aid in loss prevention. Stores can ensure that enough workers are on hand during both busy and slow times to not only assist customers, but also to keep an eye on potential shoplifters.
People counting technology has come a lot way since the 70’s. Modern counting techniques are sophisticated, detailed, and highly valuable for retailers seeking to optimize their marketing strategy. Implementing such technologies as people counting can drive business growth and increase revenues for retailers across the board. You’re invited to contact us at your primal convenience for advance retail analytic solutions and people counting analysis for your retailer
A quick Google search reveals keeping track of your customers leaves the window open for business improvement by 40 percent. An influx of customers indicates your retail is in demand and customers are enjoying their customer experience. More importantly, your customers are an underlying result of your profit. If you don’t have a people counter, the professionals at RetailFlux can provide you with an adequate technology solution to evaluate your retail market value.
People Counting Technology Providing A Retail Asset
Video analysis is a great security feature that can reduce the loss of inventory, but it also measures when your customers are interacting with your retail market. You can keep track of spending trends, promotions, and marketing with people counting technology. Powerful visual data can provide a real-time report for retail data analysis. Your business no longer has to rely on a stand alone counter to keep track of customer data.
People counting will help you effectively create your store layout and an operational strategy. More importantly, you can improve your retail profitability and increase your overall revenue with customer analysis. Retail owners can analysis how their retail space is being used to better serve their customers with detailed analysis. Keep track of what areas are getting the most attention at your store to achieve your retail goals.
Keep track of your employees with in-store optimization technology. In store optimization allows you to build effective managerial decisions and strengthen the role of your management team. Optimizing your retailer will be build trust between your employees and customers while increasing the amount of people that choose to shop with your brand.
People counting creates in-store conversion and gives the retailer insight on their customers and employees. You have an opportunity to accelerate your merchandise, boost your customers, and increase your revenue. You’re doing more than just counting your customers by gaining an understanding for your customer needs. RetailFlux creates the perfect solution for your in-store needs by providing actual numbers on customer data. You’re invited to contact us at your earliest convenience for awesome retail analytic solutions for your physical retailer.
We and our partner Shopronics have integrated with Power BI in term of Microsoft’s business analytics service. The aim of this integration is to deliver advance analysis for correct and faster decisions and to enable benchmark for retailers. Connecting and visualizing all data and analyses is fast wherever our clients want to. It transforms data with advanced data preparation capabilities.
RetailFlux Data Enriched by PowerBI
Data The RetailFlux and Power BI integration provides significant benefits to our clients. One of the most important advantages is that RetaiFlux data are included in the business analytics rhythms and reporting practices.
E-commerce Google Analytics data finds out that omnichannel shopping patterns are integrated Power BI and RetailFlux data.
This integration enables clients to understand social media and digital advertising insights, so that they can measure the effectiveness of campaign spending and shopper responsiveness.
This integration also provides staff training and performance matrices which are based on the shopper activity patterns in different categories.
Benefits of Power BI Integration
It provides stunning and understandable visuals, creating data dashboards and visualizations in minutes. As you can see, ranges of passerby, impressions, and dwell numbers are extracted on a daily and hourly basis. Also, these ranges are separated for performances of such categories as home, kids, and entrance display. In addition, they are separated by location. Likewise, it provides monthly impressions or traffic trends and traffic ratios as visuals. Our clients readily figure out whatever they want and need as visuals and benchmarks based on category and location, both daily and monthly.
Consequently, these reliable data and their analyses make insights clearer for in-store optimization, improved management, benchmarks, and faster decision making throughout this integration. Shopper patterns and responsiveness become more understandable.
In the ever-changing world of retail management, optimizing physical space within a store can be a hit-or-miss art form. Ineffective merchandise placement can result in some shelves being bypassed by virtually all customers while others are stripped bare, leaving consumers with the impression that your store is under-stocked. The best way to avoid the impact of non-optimal space use on your bottom line is to answer these three questions:
How does the store layout impact customer behavior?
With very few exceptions, customers will make more unplanned purchases in a store where related products are housed in close, logical proximity to one another than they will if they are not, especially if the related products can be spotted quickly.
For example, a customer enters a business supply store on their lunch hour to purchase a new printer. They then pass the ink cartridges and paper en route to the checkout stand. The customer is now more likely to end up buying those items as well than they would be if the ink and paper were not in the line of sight or if they had to trek to three separate corners of the store.
Are parts of your store underutilized?
Some people believe that you can tell if a store has underutilized space by tracking the inventory by sections or departments. In actuality, a surplus of inventory on the shelves can be the result of several unrelated factors, including overpricing and inefficient advertising. After all, if the neighborhood doesn’t know you sell the product, they are much less likely to try and locate it in your store.
What potential changes can be made to the store layout to alter the customer behavior?
While there is no specific layout that works for all retail stores, it is well-established that a clean store with wide, brightly-lit aisles and neat, uncluttered (but well-stocked) displays result in a more relaxing shopping experience. A comfortable customer is going to spend more time in your store and is more likely to return and shop again.
Not too long ago, the only way to find the answers to these questions would have been paying someone to perform a usage study to document customer shopping habits. This was time-consuming and expensive. It would also have to be redone each time there was a perceived variance in sales. Luckily, today there are new retail systems in place that can provide an on-demand usage map showing what path customers took through the store and how long they spent in each place. In addition, some, such as RetailFlux Flow, can quickly and easily identify the underutilized sections of the store, allowing you to immediately reconfigure displays and merchandise placement for maximum flow. For more information on how the experts at RetailFlux can help with your store optimization, contact us today!
Having a marketable product in a high traffic retail location are two important elements in successfully making a desired profit. The idea and the execution of the idea are different because of the variables in-between. In this regard, let’s look at how heatmaps improve retail stores’ resource planning.
Whether starting a business or an existing owner willing to change, adopting a lean methodology in all aspects of business is a profitable idea. What this looks like for a retail store is efficient resource planning and superior organizational ability. All those unknown factors eating away at the profit are found and eliminated with business intelligence.
The PHeat – Heatmap Analytic is a form of business intelligence for physical retail stores. This cloud software service simply integrates with existing CCTV cameras and systems. Owners can then access the data from any digital device with an Internet connection, so they can view and manage data and tools from the dashboard interface. The heatmap doesn’t show the shopper’s body heat, but rather the “hot and cold zones” in the store (determined by dwell times).
RetailFlux’s products offer retail stores the ability to analyze their store’s traffic, by distinguishing it with measurable factors, such as: passerbys, dwell times, people count, and zone specifics. This is actionable business intelligence, fresh everyday, within an efficient and innovative cloud-based system.
Improving Resource Planning
Now, by combining lean methodology and heatmap analytics, retail stores can experiment with different layouts, products, workforce, etc., in order to determine the leanest way to proceed. Questions like these: what products are leaner to carry, what marketing efforts are worth the money and time, which displays attracted attention – will start to find proven answers based on data evidence.
Resources include all aspects of a business: the products, the displays, the marketing efforts, systems, partners, tools, physical store, location, workforce, etc. Using only the resources needed, without depriving the business of profitable innovation, means starting small and lean, then adding on to this according to verifiable evidence. This evidence is the data from RetailFlux’s analytic solutions, including the PHeat – Heatmap Analytic.
For instance, optimizing the floor layout for a retail store may include spacing it out and giving customers more room. A business owner wanting to unclutter their retail store decides to clear out and strip down displays and products, then tracks the heatmap data to see if the move was profitable. Did the store get more traffic, where did the customers dwell, and did specific zones perform better?
Armed with this daily business intelligence, store owners can optimize their stores’ layout and products to increase traffic and dwell times.
Physical retail store businesses need effective business intelligence to expertly resource plan. Efficient resource planning involves all aspects of a business’s workflow, and will result in increased profits with less effort. Gathering the data from PHeat – Heatmap Analytic and the RetailFlux suite of products, enables retail store owners to gain key insights into their customers’ behavior. These insights combined with a lean methodology, optimizes a store’s layout and products.
RetailFlux is an innovative solution designed for retail stores, so owners can understand their customers’ behavior from a more in-depth angle. The heatmap is easy to integrate with existing systems, CCTV cameras, and day-to-day workflows. Customers also have ongoing support and access to resources from RetailFlux.
Business expenses and space rent is costly in the retail store environment. Large and small retailers sometimes struggle to convert traffic, many times the numbers and details of customers and traffic are never even known. RetailFlux has some affordable tools for physical retail stores, which are sure to change the owners’ perspectives on their customers’ behavior. Please contact us today to learn more about how heatmaps can improve resource planning.
The average monthly cost to rent a shopping center retail space is around $800. There could be a smaller outdoor shopping center where rent is less, but the monthly cost is significant, especially, considering this is likely for 300-500 SF. We’ve all been to a shopping mall or two, and we’ve been in and out of the stores. The sizes vary from 300 SF to more like 20,000 SF at the large department stores on the ends of the indoor malls.
Basically, with the high cost of having a retail shop in a shopping center, owners need all the marketing prowess they can muster. Not only do they need to attract people into their stores, but also convert sales. Much of the foot traffic is coming from shoppers who didn’t specifically plan on visiting a certain store. This means, these are potential customers, marketed by the shopping center; creating loyal customers from this pool of visitors will make the high rent worth the cost.
Store Layout and Merchandise
What merchandise is the store selling, and what’s the customer’s “shopping experience” like? The customer’s “shopping experience” will be shaped by the atmosphere, customer service, music, displays, and products. Making this a good experience, which brings more value than just the product alone, is important for creating loyal customers.
Retail spaces, in shopping centers, are typically not very large, so owners should be trying to maximize every inch of their space. Part of this, of course, is what merchandise will be sold in the space? Knowing what the shoppers want, is knowledge every retail shop owner wants. This way, they could simply carry those products and covert sales over and over.
Heatmap Analytics Give Insights Into Customer Behavior
The PHeat – Heatmap Analytic product, from RetailFlux, is a tool retail stores can use to understand their customers’ behavior. This tool integrates easily with in-store CCTV cameras and computer systems. Users can manage the settings, data, and other tools from a central cloud-based dashboard interface, the RetailFlux Cloud Suite.
Owners will benefit in knowing not just how many shoppers visited day-to-day, but also: how many were passerbys, how many dwelt in the store, where did they dwell, and for how long. The map will show hot and cold zones, depicting the popular an unpopular areas of a store. There’s also tools owners can use to select certain areas to focus on, in order to dig up specific data for certain high traffic areas (like the check out area).
RetailFlux has created an in-store solution for retail businesses, which utilizes cloud-based technology. Retail businesses in shopping centers are paying expensive rents, so they need to maximize the space and capitalize on the shopper traffic the location brings. PHeat – Heatmap Analytic gives owners the ability to strategize their store’s layout and merchandise, in order to maximize profit.
The main benefit of renting a high-priced retail space in a shopping center is to benefit from all the shopper traffic. A healthy percentage of these shoppers need to be converted to loyal customers, or at least compulsive one-time shoppers. The intelligence gathered from heatmap analytics will help store owners accomplish these conversions. Please contact us to learn more.