Traditional Channel: How to Increase Profitability?
Determining if the highest possible profitability is being obtained at each point of sale and if the establishments with the greatest billing potential are being reached, is part of what can be solved with geomarketing solutions.
Through Big Data management techniques, it is possible to collect, validate and analyze large volumes of information for all types of points of sale, such as convenience stores or grocery stores that operate in Central American countries.
Read more about:”Location analytics can drive retailers to success: Case Study Home Depot Vs. Ace Hardware“
Analyzing the pedestrian influx in stores, based on georeferenced information and on the real mobility of consumers to infer the concentration levels of people in places identified as convenience store, supermarkets or grocery stores, is the first step to measure the commercial potential that it has each of these establishments.
See also:”Predictive Models Applied to the Retail Sector“
Heat maps that show the pedestrian influx in a given store, the traffic density of the area, the sociodemographic data of the people who visit each point of sale, the time they stay, the frequency with which they visit and what they want to buy, It is information that is currently available to any city in the world and that is used by companies in the retail sector to optimize their operations.
This type of Business Intelligence solutions allow answering questions that are on the order of the day in the minds of managers and sales directors of the traditional channel, the following being the most common:
- Are we making the most of each one of the points of sale in which we have a presence?
- Are we reaching all the establishments we really should be in?
- Are we selling everything that we could sell in each of the points of sale where we sell our product?
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