The document provides an overview of how in-store retail analytics can help optimize store operations. It discusses how analytics can help with traffic counting and conversion rates, staffing optimization, understanding associate-shopper interactions, generating real-time alerts about store conditions, and analyzing checkout queues. The goal is to give store managers data-driven insights to improve the customer experience and boost sales and performance metrics.
Leading Inventory Innovations Within Multi-Channel RetailDwight Hill
Merchandise availability continues to be one of the most important challenges within retailers today. As the customer is demanding retailers provide a consistent experience across all channels, retailers are forced to innovate and redefine how merchandise is distributed to customers in an omni-channel or digitally converging world. This presentation explores specific areas of inventory management, including planning, visibility, and how the lines are blurring between e-commerce and brick & mortar. Within are tenets that outline best practices, and a group of retailers that stand out as harbingers of the future of inventory management.
The rise of E-Commerce has heightened the need for retail property owners and shopping centre managers to maximise the value of their assets.
Experian FootFall’s Site Analytics for Shopping Centres has been created specifically for the retail property sector, to create greater understanding of consumer behaviour and pinpoint where return on investment is and isn’t being generated.
We recognise that improving asset performance involves a lot more than just footfall and tenant sales. In fact, our platform captures all of your business data, giving you true insight into what is affecting performance – such as footfall, sales, costs, staffing, weather, marketing, car-parking and commercialization.
New Site Analytics interface for mobile – empower centre managers to make actionable real-time decisions that drive centre performance.
RFID Jewelry Management System - Irys Pte. Ltd.VidhyaMehta
Irys Pte. Ltd provides Smarter RFID Jewelry Management System based on track and trace technologies such as RFID, NFC and BLE at an affordable cost. https://www.irys.com.sg/tiara-rfid-jewelry-tracking/
This document discusses how retailers can turn consumer data into actionable business intelligence to uncover customer potential. It provides examples of how retailers like Michael Hill and Crabtree & Evelyn have used foot traffic analysis tools to optimize staffing levels, measure marketing campaign performance, and improve sales. Integrating data from customer counting, transactions, and mobile connectivity allows retailers to better understand customer behavior and identify opportunities to increase sales and profits.
ICS Retail Suite covers everything from POS to Back Office to Head Office operations; automating the entire operations, virtually eliminating paper work.It allows the management team at the Head Office to have complete control over data at the stores
Our retail setup can scale up to a complex multi-store environment with complete integration with your day to day business operations.
Get to know more about Retail Suite here: http://www.ics.com.ph/retailsuite/
=============================================
For more information about Retail Suite:
Integrated Computer Systems, Inc.
3/F Limketkai Bldg., ortigas Ave., Greenhills, San Juan City 1502 Philippines
Tel: (+63 2) 744 3000 • 727 3801
Fax: (+63 2) 721 4502 • 621 9464
Email: info@ics.com.ph
Website: http://www.ics.com.ph
The document discusses how shopping centers can turn consumer data into actionable business intelligence to uncover sales opportunities. It provides examples of how two shopping centers - The Wellington in the UK and Manufaktura in Poland - used Experian FootFall's analytics solutions to gain insights into customer behavior, identify high and low traffic areas, improve marketing campaigns, and optimize tenant mix and operations. The solutions helped the centers understand customer flow, evaluate promotional events, and make data-driven business decisions to increase footfall, dwell time, and sales.
Retailers recognize the importance of customer analytics in understanding customer behavior and needs, but many are struggling to effectively analyze customer data and take action. While 93% of retailers view customer analytics as a competitive advantage, nearly two-thirds are unhappy with their current analytics capabilities. The document outlines challenges retailers face in collecting and linking customer data from various touchpoints, and providing a unified view of the customer journey to better personalize the customer experience.
Leading Inventory Innovations Within Multi-Channel RetailDwight Hill
Merchandise availability continues to be one of the most important challenges within retailers today. As the customer is demanding retailers provide a consistent experience across all channels, retailers are forced to innovate and redefine how merchandise is distributed to customers in an omni-channel or digitally converging world. This presentation explores specific areas of inventory management, including planning, visibility, and how the lines are blurring between e-commerce and brick & mortar. Within are tenets that outline best practices, and a group of retailers that stand out as harbingers of the future of inventory management.
The rise of E-Commerce has heightened the need for retail property owners and shopping centre managers to maximise the value of their assets.
Experian FootFall’s Site Analytics for Shopping Centres has been created specifically for the retail property sector, to create greater understanding of consumer behaviour and pinpoint where return on investment is and isn’t being generated.
We recognise that improving asset performance involves a lot more than just footfall and tenant sales. In fact, our platform captures all of your business data, giving you true insight into what is affecting performance – such as footfall, sales, costs, staffing, weather, marketing, car-parking and commercialization.
New Site Analytics interface for mobile – empower centre managers to make actionable real-time decisions that drive centre performance.
RFID Jewelry Management System - Irys Pte. Ltd.VidhyaMehta
Irys Pte. Ltd provides Smarter RFID Jewelry Management System based on track and trace technologies such as RFID, NFC and BLE at an affordable cost. https://www.irys.com.sg/tiara-rfid-jewelry-tracking/
This document discusses how retailers can turn consumer data into actionable business intelligence to uncover customer potential. It provides examples of how retailers like Michael Hill and Crabtree & Evelyn have used foot traffic analysis tools to optimize staffing levels, measure marketing campaign performance, and improve sales. Integrating data from customer counting, transactions, and mobile connectivity allows retailers to better understand customer behavior and identify opportunities to increase sales and profits.
ICS Retail Suite covers everything from POS to Back Office to Head Office operations; automating the entire operations, virtually eliminating paper work.It allows the management team at the Head Office to have complete control over data at the stores
Our retail setup can scale up to a complex multi-store environment with complete integration with your day to day business operations.
Get to know more about Retail Suite here: http://www.ics.com.ph/retailsuite/
=============================================
For more information about Retail Suite:
Integrated Computer Systems, Inc.
3/F Limketkai Bldg., ortigas Ave., Greenhills, San Juan City 1502 Philippines
Tel: (+63 2) 744 3000 • 727 3801
Fax: (+63 2) 721 4502 • 621 9464
Email: info@ics.com.ph
Website: http://www.ics.com.ph
The document discusses how shopping centers can turn consumer data into actionable business intelligence to uncover sales opportunities. It provides examples of how two shopping centers - The Wellington in the UK and Manufaktura in Poland - used Experian FootFall's analytics solutions to gain insights into customer behavior, identify high and low traffic areas, improve marketing campaigns, and optimize tenant mix and operations. The solutions helped the centers understand customer flow, evaluate promotional events, and make data-driven business decisions to increase footfall, dwell time, and sales.
Retailers recognize the importance of customer analytics in understanding customer behavior and needs, but many are struggling to effectively analyze customer data and take action. While 93% of retailers view customer analytics as a competitive advantage, nearly two-thirds are unhappy with their current analytics capabilities. The document outlines challenges retailers face in collecting and linking customer data from various touchpoints, and providing a unified view of the customer journey to better personalize the customer experience.
The Power of Clienteling Raymark Case StudyRaymark
The following benefits were achieved within the first 90 days of the project:
• After a comprehensive cultural change management and training program, 95% of the associates were consistently using the system and successfully completing their pro-active selling tasks.
• Migration of all users from manual client books to the new system in alignment with PCI directives.
• A 1000%+ increase in the number of outbound e-mails and calls to prospective customers by sales associates.
• A 9% Increase in total sales revenue by associate over a period when new customer acquisitions were down 12%.
• Number of repeat customers increased by 33%.
• A 21% increase in average spend per transaction over 3 months with customers that were “clienteled.”
... and more!
Marketing Plan for Android App- Footfall for AllRhythm Tyagi
FootFall For All aims to provide retail analytics to retailers in India by tracking customer movements and behavior inside physical stores. It will offer various products and services through a mobile app to give retailers insights like conversion rates, time spent in different zones, and maximum traffic hours. The goal is to help retailers improve effectiveness and profitability. The target market is large retail chains in India, and the strategy is to position FootFall For All as a one-stop solution for retail analytics through a simple yet powerful mobile app. Pricing will start from basic to premium packages based on store size and features. The company will promote its solution through word of mouth, social media, and low cost promotions.
This document introduces self-checkout systems for retail markets in India. It notes that customers want fast checkout and retailers are looking for ways to improve checkout times. Self-checkout systems can reduce wait times at checkout lines. While these systems have not been implemented in India yet, there is demand. The document outlines the technology behind these systems and marketing strategies to introduce them in India and the Middle East, including test marketing the systems in select retail outlets.
This document discusses how technology is disrupting the retail industry and changing customer expectations. Customers now expect seamless shopping experiences across both online and physical channels. Retailers are investing heavily in integrating technologies across their systems to provide personalized, omnichannel experiences. This includes using technologies like customer analytics, mobile POS systems, and digital signage to better understand customers and connect the online and physical shopping experiences. The emergence of new technologies is forcing retailers to become more customer-centric and agile in order to stay competitive.
Clienteling Without Creepiness_Spring 2016Dianne Inniss
The document discusses how retailers can provide personalized customer experiences while respecting privacy. It recommends that retailers focus on collecting contextual insights from customer interactions, connecting with customers by demonstrating the value of sharing information, and protecting customer privacy. Retailers can collect insights through self-service tools, assisted selling, and online quizzes to better understand customers and deliver personalized recommendations and services without requiring personal data. The goal is to engage customers by showing the benefits of sharing preferences so retailers can improve the shopping experience.
This document presents the findings of a feasibility study on introducing self-checkout machines in supermarkets in Dubai. It finds there is demand among consumers for self-checkout due to the benefits of reduced waiting times, increased privacy and control. While retailers have concerns about costs and security, the study estimates self-checkout machines would pay for themselves within two years due to reduced labor costs. It recommends a phased introduction along with promotional discounts and awareness campaigns to encourage adoption.
This document summarizes FootFall's retail analytics solutions that help businesses increase profitability by providing insights into customer behavior. FootFall collects data from multiple sources to give businesses a 360-degree view of customer activity. Their Site Analytics solution provides intra-day and trends insights to store managers and analysts. Site Analytics Expert provides additional analytics tools and reporting for advanced analysis by head office personnel. Both solutions analyze metrics like foot traffic, sales, staffing levels, and more to help businesses optimize operations and marketing strategies. FootFall also offers consultancy services to help clients uncover insights and action plans from their data to generate business value.
SAP WHITEPAPER: Reacting in the Retail Moment, Analyzing Big Data in Real Tim...Beyond Technologies
Under any circumstances, retail is an extremely competitive industry. But today, an uncertain economy and low consumer confidence, coupled with shorter product lifecycles and well-informed, demanding customers, make it especially difficult to execute a profitable strategy.
Retailers have only a narrow window to make the sale and seize the opportunity. Thriving in this environment means maximizing the profit potential of each interaction, transaction, and customer contact.
When a consumer enters a supermarket/retail outlets/Malls he has to spend a lot of time waiting in the queue for checkout. There is an overwhelming need for businesses to value customers’ time and install more efficient checkout systems to improve the efficiency of queues and waiting lines.Here the proposed product will enable a consumer or buyer shopping in a retail shop/mall/outlets self-shopping so that he can do his own billing the products he bought using self-checkout machine.Here we are targeting at Retail market focusing Malls/Super markets/Retail Outlets focusing India & Middle East market.Customers want fast checkout systems. Retailers are always searching for ways to improve store checkout systems. Super markets in India & Middle east are not equipped with self-shopping facility. This gives us a unique opportunity in positioning the product into the target market.
Inventory management is key for profitability in retail. Disappointing customers by missing trends or not meeting their demand puts retailers in a serious deficit. This report covers .. why harnessing inventory data is critical for success, what KPIs are essential for effective inventory management, which POS reports all retailers should run and when, and more! Enjoy the report, and visit us at springboardretail.com for even more inventory management content.
This document contains confidential information belonging to AAUM. It discusses various analytical techniques such as customer segmentation, market basket analysis, forecasting, and supply chain optimization that can be applied across industries. Case studies of companies like Tesco, Nieman Marcus, and Food Lion demonstrate how these techniques have been successfully used to increase sales, optimize operations, and improve customer experience.
Psfkfutureofretail2017slideshare 161108174615Dieste Inc.
Inspiring by the 10 strategies of transforming a business into a costumers-first organization, PSFK partnered up with agencies around the world to bring the future of retail into reality. Enjoy it!
Reliable market sizing doesn't have to be as complicated or painstakingly slow as you think. This presentation offers a quick overview of the art and science of market sizing, and offers a step-by-step guide on how to conduct seven fast market sizing approaches.
Arun Gupta, Customer Care Associate and Group Chief Technology Officer, Shoppers Stop presented at the Premier Business Leadership Series 2010, http://www.sas.com/theserieshk.
With many retailers worldwide struggling to maintain revenues, how do you grow in such a tough competitive landscape? As a leading Indian retailer and pioneer in using technology, especially business analytics, Shoppers Stop is not only thriving but has helped revolutionise the retail sector. Gupta will share insights on using analytics to drive business value, reduce operational costs and provide better products and customer experience.
This document recognizes 14 retailers who won awards for their innovative store operations strategies in categories such as customer engagement, workforce management, social/mobile strategies, and inventory management/loss prevention. It provides details on the award winners, including the category won, brands/store banners, number of stores, annual revenue, and a brief description of their innovative strategies. For example, it describes how A&W Canada implemented a mobile customer engagement solution to gather real-time customer feedback and improve the customer experience.
Use In-Store Location Data To Create A Better Customer Experience And More Sa...G3 Communications
Keith Swenson from Fujitsu presented on in-store analytics and its potential to transform retail operations. He discussed how analytics can provide insights into customer behavior and traffic patterns to optimize staffing, product placement, marketing and more. Swenson showcased several use cases including analyzing dwell times, optimizing floor plans, monitoring staffing needs and personalizing offers. The presentation concluded with a case study of a fashion retailer that was able to increase conversion rates and target promotions more effectively using Fujitsu's in-store analytics solution.
The retail sector has never been more competitive, so it’s essential to understand what’s behind every dip or hike in sales within your business.
Experian FootFall’s Site Analytics for Retailers scientifically monitors and accurately analyses in-store customer behaviour to help retail businesses pinpoint areas where profits can be improved.
Our unique retail technology and analysis solutions enable retail businesses to identify and understand customer shopping habits, to drive performance. You can pinpoint profit opportunities in areas such as customer conversions, queue management, sales, marketing and merchandising.
New Site Analytics interface for mobile – empower store managers to make actionable real-time decisions that drive store performance.
This document provides tips on visual merchandising for e-commerce retailers. It discusses five tips: 1) ensuring the site is optimized for mobile, as many consumers shop on mobile; 2) providing clear and interactive tools to aid customer decisions and improve search functions; 3) keeping the checkout process short and simple; 4) using data analytics to inform merchandising decisions; and 5) monitoring competitors to identify gaps in inventory. It then discusses retail store layout, including defining store design and customer flow. Key aspects of store layout planning are identifying customer flow patterns, avoiding clutter in the entrance "decompression zone", and leveraging tendencies for customers to navigate stores in a clockwise direction.
Store Operations & Management ( PDFDrive ).pdfaliadan15
The document discusses store operations and management. It covers topics like types of retail stores and organization, store management and operations, selecting store layout and merchandise management, space management, store layout and design, visual merchandising, store atmospherics, and the scope and challenges of visual merchandising. The syllabus outlines concepts related to introduction of store operations, the logistics chain, retail store organization, store management responsibilities, selecting store layout, space management methods, store design constraints, visual merchandising strategies, and factors that influence consumer behavior. It provides examples of technologies and strategies that retailers can use to improve store operations, customer service, and supply chain management.
The document provides 9 tips for ensuring the success of a multi-store retail business. The first tip is to design centralized standard operating procedures to streamline operations and provide customers a seamless experience across stores. Automating inventory tracking using an order management system allows accurate tracking of stock levels across locations. Selling products through both online and offline channels via an omni-channel approach can help capitalize on multiple sales platforms. Performance tracking of all stores is important to identify risks and make informed business decisions. An all-in-one retail management system integrated with POS, ERP, and other functions can help manage the entire business from a single platform.
The Power of Clienteling Raymark Case StudyRaymark
The following benefits were achieved within the first 90 days of the project:
• After a comprehensive cultural change management and training program, 95% of the associates were consistently using the system and successfully completing their pro-active selling tasks.
• Migration of all users from manual client books to the new system in alignment with PCI directives.
• A 1000%+ increase in the number of outbound e-mails and calls to prospective customers by sales associates.
• A 9% Increase in total sales revenue by associate over a period when new customer acquisitions were down 12%.
• Number of repeat customers increased by 33%.
• A 21% increase in average spend per transaction over 3 months with customers that were “clienteled.”
... and more!
Marketing Plan for Android App- Footfall for AllRhythm Tyagi
FootFall For All aims to provide retail analytics to retailers in India by tracking customer movements and behavior inside physical stores. It will offer various products and services through a mobile app to give retailers insights like conversion rates, time spent in different zones, and maximum traffic hours. The goal is to help retailers improve effectiveness and profitability. The target market is large retail chains in India, and the strategy is to position FootFall For All as a one-stop solution for retail analytics through a simple yet powerful mobile app. Pricing will start from basic to premium packages based on store size and features. The company will promote its solution through word of mouth, social media, and low cost promotions.
This document introduces self-checkout systems for retail markets in India. It notes that customers want fast checkout and retailers are looking for ways to improve checkout times. Self-checkout systems can reduce wait times at checkout lines. While these systems have not been implemented in India yet, there is demand. The document outlines the technology behind these systems and marketing strategies to introduce them in India and the Middle East, including test marketing the systems in select retail outlets.
This document discusses how technology is disrupting the retail industry and changing customer expectations. Customers now expect seamless shopping experiences across both online and physical channels. Retailers are investing heavily in integrating technologies across their systems to provide personalized, omnichannel experiences. This includes using technologies like customer analytics, mobile POS systems, and digital signage to better understand customers and connect the online and physical shopping experiences. The emergence of new technologies is forcing retailers to become more customer-centric and agile in order to stay competitive.
Clienteling Without Creepiness_Spring 2016Dianne Inniss
The document discusses how retailers can provide personalized customer experiences while respecting privacy. It recommends that retailers focus on collecting contextual insights from customer interactions, connecting with customers by demonstrating the value of sharing information, and protecting customer privacy. Retailers can collect insights through self-service tools, assisted selling, and online quizzes to better understand customers and deliver personalized recommendations and services without requiring personal data. The goal is to engage customers by showing the benefits of sharing preferences so retailers can improve the shopping experience.
This document presents the findings of a feasibility study on introducing self-checkout machines in supermarkets in Dubai. It finds there is demand among consumers for self-checkout due to the benefits of reduced waiting times, increased privacy and control. While retailers have concerns about costs and security, the study estimates self-checkout machines would pay for themselves within two years due to reduced labor costs. It recommends a phased introduction along with promotional discounts and awareness campaigns to encourage adoption.
This document summarizes FootFall's retail analytics solutions that help businesses increase profitability by providing insights into customer behavior. FootFall collects data from multiple sources to give businesses a 360-degree view of customer activity. Their Site Analytics solution provides intra-day and trends insights to store managers and analysts. Site Analytics Expert provides additional analytics tools and reporting for advanced analysis by head office personnel. Both solutions analyze metrics like foot traffic, sales, staffing levels, and more to help businesses optimize operations and marketing strategies. FootFall also offers consultancy services to help clients uncover insights and action plans from their data to generate business value.
SAP WHITEPAPER: Reacting in the Retail Moment, Analyzing Big Data in Real Tim...Beyond Technologies
Under any circumstances, retail is an extremely competitive industry. But today, an uncertain economy and low consumer confidence, coupled with shorter product lifecycles and well-informed, demanding customers, make it especially difficult to execute a profitable strategy.
Retailers have only a narrow window to make the sale and seize the opportunity. Thriving in this environment means maximizing the profit potential of each interaction, transaction, and customer contact.
When a consumer enters a supermarket/retail outlets/Malls he has to spend a lot of time waiting in the queue for checkout. There is an overwhelming need for businesses to value customers’ time and install more efficient checkout systems to improve the efficiency of queues and waiting lines.Here the proposed product will enable a consumer or buyer shopping in a retail shop/mall/outlets self-shopping so that he can do his own billing the products he bought using self-checkout machine.Here we are targeting at Retail market focusing Malls/Super markets/Retail Outlets focusing India & Middle East market.Customers want fast checkout systems. Retailers are always searching for ways to improve store checkout systems. Super markets in India & Middle east are not equipped with self-shopping facility. This gives us a unique opportunity in positioning the product into the target market.
Inventory management is key for profitability in retail. Disappointing customers by missing trends or not meeting their demand puts retailers in a serious deficit. This report covers .. why harnessing inventory data is critical for success, what KPIs are essential for effective inventory management, which POS reports all retailers should run and when, and more! Enjoy the report, and visit us at springboardretail.com for even more inventory management content.
This document contains confidential information belonging to AAUM. It discusses various analytical techniques such as customer segmentation, market basket analysis, forecasting, and supply chain optimization that can be applied across industries. Case studies of companies like Tesco, Nieman Marcus, and Food Lion demonstrate how these techniques have been successfully used to increase sales, optimize operations, and improve customer experience.
Psfkfutureofretail2017slideshare 161108174615Dieste Inc.
Inspiring by the 10 strategies of transforming a business into a costumers-first organization, PSFK partnered up with agencies around the world to bring the future of retail into reality. Enjoy it!
Reliable market sizing doesn't have to be as complicated or painstakingly slow as you think. This presentation offers a quick overview of the art and science of market sizing, and offers a step-by-step guide on how to conduct seven fast market sizing approaches.
Arun Gupta, Customer Care Associate and Group Chief Technology Officer, Shoppers Stop presented at the Premier Business Leadership Series 2010, http://www.sas.com/theserieshk.
With many retailers worldwide struggling to maintain revenues, how do you grow in such a tough competitive landscape? As a leading Indian retailer and pioneer in using technology, especially business analytics, Shoppers Stop is not only thriving but has helped revolutionise the retail sector. Gupta will share insights on using analytics to drive business value, reduce operational costs and provide better products and customer experience.
This document recognizes 14 retailers who won awards for their innovative store operations strategies in categories such as customer engagement, workforce management, social/mobile strategies, and inventory management/loss prevention. It provides details on the award winners, including the category won, brands/store banners, number of stores, annual revenue, and a brief description of their innovative strategies. For example, it describes how A&W Canada implemented a mobile customer engagement solution to gather real-time customer feedback and improve the customer experience.
Use In-Store Location Data To Create A Better Customer Experience And More Sa...G3 Communications
Keith Swenson from Fujitsu presented on in-store analytics and its potential to transform retail operations. He discussed how analytics can provide insights into customer behavior and traffic patterns to optimize staffing, product placement, marketing and more. Swenson showcased several use cases including analyzing dwell times, optimizing floor plans, monitoring staffing needs and personalizing offers. The presentation concluded with a case study of a fashion retailer that was able to increase conversion rates and target promotions more effectively using Fujitsu's in-store analytics solution.
The retail sector has never been more competitive, so it’s essential to understand what’s behind every dip or hike in sales within your business.
Experian FootFall’s Site Analytics for Retailers scientifically monitors and accurately analyses in-store customer behaviour to help retail businesses pinpoint areas where profits can be improved.
Our unique retail technology and analysis solutions enable retail businesses to identify and understand customer shopping habits, to drive performance. You can pinpoint profit opportunities in areas such as customer conversions, queue management, sales, marketing and merchandising.
New Site Analytics interface for mobile – empower store managers to make actionable real-time decisions that drive store performance.
This document provides tips on visual merchandising for e-commerce retailers. It discusses five tips: 1) ensuring the site is optimized for mobile, as many consumers shop on mobile; 2) providing clear and interactive tools to aid customer decisions and improve search functions; 3) keeping the checkout process short and simple; 4) using data analytics to inform merchandising decisions; and 5) monitoring competitors to identify gaps in inventory. It then discusses retail store layout, including defining store design and customer flow. Key aspects of store layout planning are identifying customer flow patterns, avoiding clutter in the entrance "decompression zone", and leveraging tendencies for customers to navigate stores in a clockwise direction.
Store Operations & Management ( PDFDrive ).pdfaliadan15
The document discusses store operations and management. It covers topics like types of retail stores and organization, store management and operations, selecting store layout and merchandise management, space management, store layout and design, visual merchandising, store atmospherics, and the scope and challenges of visual merchandising. The syllabus outlines concepts related to introduction of store operations, the logistics chain, retail store organization, store management responsibilities, selecting store layout, space management methods, store design constraints, visual merchandising strategies, and factors that influence consumer behavior. It provides examples of technologies and strategies that retailers can use to improve store operations, customer service, and supply chain management.
The document provides 9 tips for ensuring the success of a multi-store retail business. The first tip is to design centralized standard operating procedures to streamline operations and provide customers a seamless experience across stores. Automating inventory tracking using an order management system allows accurate tracking of stock levels across locations. Selling products through both online and offline channels via an omni-channel approach can help capitalize on multiple sales platforms. Performance tracking of all stores is important to identify risks and make informed business decisions. An all-in-one retail management system integrated with POS, ERP, and other functions can help manage the entire business from a single platform.
Customer Traffic Provides Keys to Conversion Analytics. @_iInsideKellie Peterson
Precise retail traffic data paints a path-to-purchase picture previously unavailable
to the retailer. Retailers now can learn exactly where people go in their stores, for
how long and in what order. iInside,
This document discusses retail and retail information systems. It defines retail as the sale of goods from a fixed location directly to consumers. Retail information systems provides point of sale and inventory control software and hardware solutions to retailers worldwide. The document outlines several concerns for retailers including customer satisfaction, acquiring the right products, product presentation, traffic building, store layout, location, and the importance of technology. It also discusses the importance of store management and building customer satisfaction through products, checkout speed, and motivated employees.
The document provides details about an internship project conducted at Reliance Retail Ltd. to analyze retail store operations at their Reliance Fresh store in Hinoo, Ranchi. The research objectives were to analyze the store's catchment area, footfall, and customers' average ticket size. Footfall averaged 500-600 visitors daily. The catchment area included nearby residential neighborhoods. Data was collected from the store on footfall, sales, and customers over May 2009 and 50 customers were surveyed on store attributes. Key findings were the need for better product visibility, more promotions, and improved customer service to increase sales.
The document discusses how retailers can turn consumer data into actionable business intelligence to uncover customer potential. It provides examples of how two retailers, Michael Hill and Crabtree & Evelyn, used consumer data analytics to improve operations and increase sales and profits. Specifically, Michael Hill refined staff scheduling using footfall data to better match employee levels to customer traffic, and Crabtree & Evelyn used store performance metrics to run inter-store competitions that improved conversion rates and average transaction values.
The document discusses the importance of selecting the right retail store location and introduces the OPTILOX model for optimizing location selection. OPTILOX uses behavioral analytics and considers factors like customer demographics, preferences, and footfall patterns to evaluate potential locations and forecast customer numbers. It helps retailers make faster and more informed decisions to maximize the success of new store openings.
What Every Retailer Must Know About Traffic 2.0Ray Hartjen
Traffic 2.0 is the latest generation of traffic counting, and it doesn’t stop at “how many.” Today, it includes “who,” “what,” “where,” and “when,” and when brought all together, goes a long way to determining “why” and “why not” as well.
What Every Retailer Must Know About Traffic 2.0RayHartjen
Traffic 2.0 is the latest generation of traffic counting, and it doesn’t stop at “how many.” Today, it includes “who,” “what,” “where,” and “when,” and when brought all together, goes a long way to determining “why” and “why not” as well.
Traffic 2.0 provides retailers with more detailed shopper data beyond just counts. It can determine a shopper's gender, age, visit frequency, path through the store, time spent in areas, and interactions with employees. Integrating this data with other sources allows retailers to better understand shopper behavior and identify ways to improve the shopping experience, staffing, and conversions.
The document discusses how tracking customer behavior in stores through indoor location technology can provide valuable insights. It explains that understanding where customers spend time, how long they dwell in departments, and their return rates can inform business decisions. The technology company iInside offers precise indoor location solutions to capture customer movement and understand traffic patterns and behavior to help optimize revenue, test strategies, and increase conversions.
The document discusses how understanding customer behavior in stores through indoor location technology can provide insights to optimize business performance. It explains that technologies like iInside can track which departments customers visit, how long they spend in each, and their return rates. This data reveals customer motivations and informs decisions on merchandising, marketing, and operations to improve sales and revenue.
AT Kearney: Retail success still depends on core principles May 2013Brian Crotty
The document discusses how retail success still depends on core principles despite changes in technology and the retail environment. Key points:
- The 2013 AERO study found that traditional principles like engaging employees and customers, reducing administrative burdens, and using technology as a tool (not an end) are still important for retail success.
- Leading retailers excel at measuring the right data, analyzing insights, and taking action (Measure, Analyze, Act). They utilize more customer data sources and cross-channel metrics than others.
- Field leadership and frontline staff are crucial but often overburdened with administration. Leaders provide more training and tools to empower managers in their roles.
- While new technologies provide opportunities
Intellicus provides analytics solutions to help retailers optimize operations and business performance. This includes forecasting demand and sales, pricing and promotion optimization, real-time point of sale analysis, omnichannel dashboard insights, and customer behavior analysis. Intellicus uses machine learning and predictive models to analyze multidimensional data from multiple sources and channels to help retailers make more informed strategic and tactical decisions.
Sophelle Focus Report | Product Findability: Connecting People and Products O...Julie Barile
Product findability is more than on-site search.
Doing product findability right connects the right person
with the right product at the right time. Consumers
don’t recognize channels, technologies, warehouse
locations, or drop-ship relationships. They are expecting
a seamless, frictionless experience, and retailers that
provide it are succeeding in the marketplace.
Connecting people and products effectively significantly
improves the customer experience and leads directly to
downstream benefits.
Customers want retailers to meet them with relevancy
wherever they choose to shop. Seamless customer
experiences across all touchpoints requires coordinated
operations, integrated systems, and shared data
throughout the enterprise. Retailers must find the right
mix of solutions for their products and customers.
The document discusses requirements for effective business analytics strategies in retail. It states that retailers need to move from rear-view business intelligence to predictive analytics that provide insights across all customer touchpoints. This requires integrating data from multiple sources, including social media and location data. It also notes that retailers need to address organizational structures for analytics, moving from siloed departments to shared services models in order to gain a holistic view of customers. Meeting these technology, process, and organizational requirements is key to successfully leveraging analytics for competitive advantage.
Managing the Store Transformation Process: Why it’s imperative to transform your physical store
This White paper explores how a new empowered customer experience can be achieved. It also addresses the second essential step, the transformation plan and metrics that will be used to measure success. This key step enables the creation of the store transformation strategy, vision and roadmap.
1. T H E A R T O F T H E P O S S I B L E
A N I N - S T O R E A N A LY T I C S G U I D E F O R S T O R E O P E R AT I O N S
2 0 1 5
2. The Art of the Possible
An In-Store Analytics Guide for Store Operations
The store is where the “rubber meets the road” for every brick-and-mortar retailer.
Go-to-market strategies have been formulated at the board, through the C-suite, and down
to the store’s front door.
Marketing, Merchandising, and every other corporate function has delivered input into the
plan, and executed where they can.
It all comes together at the store!
The store is the first chance to greet and serve shoppers. It’s the first chance to see if
strategies are working, and it’s the first chance to receive direct feedback from customers.
It’s also the first chance to better align store operations to shopper experiences and reac-
tions. The role of the physical store is changing and there is a newfound emphasis on
customer experience. Reinvention is an imperative and also an opportunity, and in-store
retail analytics provides the data and shopper insights to fuel the engine of change.
4. Introduction
The primary goals of Store Operations have always been to boost sales and overall store and staff perfor-
mance, and are often centered on a balanced scorecard of the following:
• Same store comp sales
• Conversion
• Average Transaction Value (ATV)
• Units per Transaction (UPT)
• Sales per Square Foot
Additionally, Store Operations is often measured on customer satisfaction and secret shopper metrics, and
“bottom line” metrics that take into consideration payroll expenses and shrinkage.
So, lots of metrics to manage toward, but very little information as to the “why’s,” a critical component to
best figure out the “how” to improve.
Into this gap leaps in-store retail analytics.
Retail analytics empowers Store Operations professionals to:
• Easily monitor store data and trends – for every location
• Enable real-time, data-driven decisions
• Align staffing schedules to traffic for improved service and conversion
• Monitor and act on localized shopper behavior, improving the shopper experience
No online eCommerce site would dare conduct business without Google Analytics and other measures of
shopper activities and behaviors, and no brick-and-mortar store should be expected to either – without
in-store retail analytics, physical retailers just couldn’t compete.
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5. Traffic Counting & Conversion
How would understanding the complete path shoppers
follow through the store influence the in-store changes
your Store Operations team would make?
Aside from sales, traffic counting/people counting is the
oldest and longest running metric in the retail industry.
Traffic used to be counted by hand, with “clickers,” or
even pencil hash marks on paper. Technologies like
simple light beam counters later systemized it and now
video analytics are commonplace.
Through it all though, traffic was not only relatively inaccurate, but limited to describing “how many.”
That was it; that was all.
Traffic 2.0, on the other hand, provides incredibly accurate insights into traffic counts (excluding employees)
and also so much more than just “how many.” Now, retailers can know:
• Percentage of passersby that enter the store
• Shopper gender and age demographics
• Ratio of new and returning customers
• Frequency of visits of repeat customers
• Duration of shopping visits
• Geo-origin of shoppers
• Cross-store spending of shoppers
Understanding who your shoppers are, where they come from, and how they tend to shop empowers
Store Operations to better serve at the “first moment of truth,” when shoppers actually enter the store, and
to provide the shopping experiences today’s customers prefer … and demand.
Traditionally, brick-and-mortar stores knew activity at the front door and at POS, and everything else was a
black hole devoid of any real data other than subjective, anecdotal evidence.
And, that was just for shoppers who converted! For those who browsed and left without purchasing, noth-
ing was really known – given a conversion rate of 25 percent, that means virtually nothing was known
about 75 percent of shoppers who visited.
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6. Understanding where shoppers visited within the store, in
what order, and where they stopped to engage with prod-
uct, displays and/or sales associates are all data points that
allow management to:
• Understand the store’s unique traffic patterns over
time, with an ability to differentiate between shop-
pers and sales associates
• Determine optimal sales associate/shopper interac-
tion – where, when and for how long
• Identify high- and low-activity areas, and optimize
product placement and staff to maximize the value
of selling floor space
• Easily test and tweak new floor plans and fixtures
prior to a more permanent or more widespread
rollout
• Optimize lighting, music, digital signage and other
in-store environmental assets based on their impact
on traffic, conversion, visit duration, and ultimately
sales.
Simply comparing paths of those who converted with those who didn’t often delivers eye-opening insights
on everything from associate/shopper interactions to placement of promotional merchandise.
Lastly, related to traffic and conversion, in-store retail analytics enable Store Operations and other functions
to quantify the impact of showrooming in the store, providing insights into how mobile devices are used,
what sites are browsed, and what, if anything, is placed in shopping carts. With that information, stores
uncover low-hanging opportunities in staff training, signage and pricing.
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7. Staffing Optimization
How do you measure the productivity of store staff, and how would better aligning staffing to traffic
peaks impact both staff productivity and store performance?
There’s an age-old truism in retailing: As
traffic goes up, conversion goes down.
It’s lost opportunity for stores, and once lost,
it’s often lost forever.
In-store retail analytics provide accurate
traffic count reporting down to any time
level desired by management. Armed with
accurate traffic counts over time, managers
then allocate staff accordingly, and the
results can be staggering – RetailNext has
found that retailers experience a 6-8
percent growth in sales the first year of deployment, with another 4 percent growth in sales the second
year.
Staffing optimization also works by department too. An easy look at metrics can determine if a
resource-heavy departments like shoes is dragging down overall performance in other department, and
with it, the overall store.
Staffing optimization is not only about re-allocating shifts to align with traffic patterns. In-store analytics
provides the insights to make a fact-based decision on when and where to decrease or – in many cases -
add labor hours into a store to improve service levels and maximize conversion, sales, and profit.
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8. Sales Associate/Shopper Interactions
How would insights into how, where, and for how long
your staff interacts with shoppers in-store help your
stores achieve their goals?
Staff exclusion is important for accurate traffic counting
but to exclude employees one must be able to first
identify employees. And, when that is possible, so many
more possibilities are opened. Management can study
employee paths throughout a store, monitor areas
where employees “dwell” versus where shoppers do
and, most importantly, measure and optimize interac-
tions between associates and shoppers.
Interaction analysis focuses on when, where, how long
and how often associates interact with shoppers, and, at
scale, it provides valuable insights into the differences
between shoppers who convert and those who don’t.
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How could Store Operations benefit by understanding which
interactions result in ringing a sale and which don’t?
9. Real-Time Alerts
The store is the front line, where action needs to lead to
results.
But, so many retail analytics data are lagging metrics.
What Store Operations needs to maximize effective-
ness are real-time alerts from the data being acquired.
Real-time alerts allow management to stay on top of
store-traffic related events with notifications through
in-store communications systems or email, enabling
proactive service around peak demand and unusually
high traffic, such as:
• Opening another POS terminal if queues are
long
• Straightening out fitting rooms after shopper use
• Re-allocating staff to busier departments
Real-time alerts can also trigger marketing activities, like
proximity marketing campaigns to drive traffic on slow
days, take advantage of inventory opportunities, or cash
in on localized opportunities – after all, who doesn’t
need an umbrella on a rainy day?
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10. Queue Analytics
The check out queue represents the final few feet of the
pre-purchase shopping journey, yet is frequently over-
looked by many retailers – despite the fact it is rife with
both opportunity and threat.
The opportunity lies in impulse buys and other upsell
opportunities.
The threat lies in cart abandonment.
Imagine - all that work in creating and delivering the right shopping experience only to lose the sale at the
last possible moment!
Queue analytics allows for an understanding of queuing behavior in stores, leading to reduced bottlenecks
and the best possible checkout experience, with the final result being maximum conversion and customer
satisfaction.
Queue length, queue wait time and service time are all important KPI metrics, and each can lead to
improvements in store design, staffing and staff trainings.
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At RetailNext, we’re passionate about retailing and how to empower retailers to become better retailers, growing comp
store sales and improving bottom-line profits.
Do you have a point of view to share, or questions about retail analytics and how it’s used to better Loss Prevention
practices and other retailing functions?
Please join the #retail conversation on Twitter @RetailNext and at www.facebook.com/retailnext, and visit the
RetailNext site at retailnext.net.