Retail Footfall analytics
Footfall analytics makes critical operational and strategic decisions for any business, improving conversion rates, maximizing sales, optimizing costs, and increasing brand positioning.
Thanks to mobility data, retailers can gain deeper insight into their business by analyzing changes in sales volumes and the consequences of fluctuations in footfall levels inside and outside stores. At the same time, they can measure the effectiveness of marketing campaigns, providing a clearer picture of what really works for a target audience.
You may be interested in: “Walmart Vs. Soriana: Consumer Foot traffic Analysis“.
The ability to analyze footfall data and conversion rates provides a clear view of staff and store performance by the hour, day, or week, identifying areas for improvement within key business metrics.
By further analyzing customer dwell time and visitation rates, footfall data analysis provides insight into the customer experience at the point of sale.
How can profitability be maximized by analyzing footfall at the point of sale?
Consumer footfall data and analytics offer the ability to maximize profitability at the point of sale by identifying, for example, when staffing costs can be reduced or when less inventory can be held. Another benefit is the tracking of in-store traffic patterns and forecasting where key outlets/products should be placed to enable the business to make the most of incoming traffic.
Also read: “Retail: Benefit of monetizing data“.
The result of effective mobility analytics shows various types of insights, for example:
-Customer visits by the hour, day, and week
-Unique customer count
-Identification of potential customers
-Frequency of visits
-Which other stores do customers visit
-How many floating customers enter or pass by a point of sale
-Customer dwell time
-How long do customers spend in a store
Customer experience measurement
At PREDIK Data-Driven we perform analytics based on mobility data to measure different factors and provide business intelligence solutions for any industry.
Do you need to apply footfall analytics to your business? Contact us!