The only permanent factor in life is change. This adage has a corresponding impact in the world of retail too. Shopping trends keep changing frequently. This makes it imperative for business owners to innovate in a bid to stay ahead of the competition. Visit Prodco International Inc. to find out more about the changing shopping trends. Devise systematic strategies to counter them. Observe the difference in your sales and profitability.
Use Retail Traffic Analysis to Obtain Insights on Consumer Behavior
1. Use Retail Traffic Analysis to Obtain Insights on Consumer Behavior
Shopping is among the most important contemporary social activities currently.
People frequently visit shopping centers and sprawling malls to indulge
themselves. Shoppers love new and novel experiences. In fact, shoppers enjoy
unconventional and unique marketing approaches. Business owners using these
methods, find it easier to grab the attention of shoppers. It can be difficult to gauge
the manner in which shoppers behave because of the high unpredictability
quotient. Of late, the behavior of shoppers continues to change even more rapidly.
This makes it even harder for business owners to get a grip on their target
audience.
In these circumstances, retail traffic intelligence can be a shot in the arm for retail
business owners. A high-quality traffic intelligence system – such as the one
offered by Prodco International Inc. – can help business owners to:
Evaluate the profile and characteristics of shoppers
Gain an understanding about the demography of the shoppers
2. Obtain insights into hitherto unpredictable consumer behavior
Armed with these insights, business owners of retail stores can effectively target
the shoppers at their stores. Thus, they can use enticing promotions, which can
strike a resonant chord with their target audience. If a business owner can
therefore, devise marketing promotions based on the pre-emptive behavior of
shoppers, shoppers will find it hard to remain unaffected.
Although they might not be aware of it, shoppers remain under constant
surveillance from the time they walk into stores. Business owners monitor their
footsteps, choices, areas of interest in the store and reactions to discounts very
closely. This is primarily because it is crucial to keep a keen eye on the traffic in
the store for maximizing business and sales opportunities. The best retail traffic
counter provides details of total traffic in the store in traffic reports. These reports
could be in either graphic or tabular form, thereby enhancing their level of
customization.
People counters in retail businesses help business owners gain valuable insights
about customer behavior and location performance. Business owners can use the
data generated to enhance their sales and profits through appropriate planning and
implementation of appropriate strategies. Therefore, if business owners install
retail people counters, these devices can help count the number of people visiting
the store or mall accurately. This can help business owners ensure that their retail
stores perform at optimal levels day after day. To express it simply, these devices
are electronic systems that utilize readers mounted at entrances for counting the
number of people walking into a specific facility or shopping zone.
One of the key performance indicators of a retail store is its performance levels.
Retail counters help business owners calculate the percentage of store visitors that
end up purchasing something. Furthermore, business owners use retail traffic
counters to measure the traffic count of people entering or leaving a place, as
mentioned above. These counters use a wide variety of technology to accomplish
this. The main kinds of technology used by people counters are:
Synthetic intelligence
Computer vision that uses CCTV cameras or,
3. Thermal imaging
People counting devices are an innovative means to generate information for
conducting statistical analyses. These devices can count the number of people who
enter and exit a store. However, they also serve a number of other purposes. These
include:
Intelligence gathering in supermarkets and malls and,
Traffic data analysis
People counters at malls provide greater accuracy when it comes to maintaining a
count of the percentage of people who visit a store:
Casually, without making any purchases
Casually, but end up making a purchase or two
Aiming to purchase certain products for sure
Analysis of the data generated by these counters can be very important to analyze a
store’s performance. Several business owners will primarily examine their account
sales details. However, this device provides accurate data that can yield dividends
in:
Analyzing Sales Patterns
Improving Sales
Ascertaining the levels of under or over-staffing in stores
Understanding the peak hours of the store, thereby enabling business owners
to provide maximum staffing at the time
An additional benefit includes providing information about the number of people
inside a mall at any given time. In times of emergencies, this information can be
very useful.