The biggest challenge currently facing brick and mortar retailers is to provide an engaging, personalised and exciting in-store customer experience (ICX). In this day and age of Internet shopping and online retailers, creating an experience provides the key point of difference for physical stores and remains the driving force behind getting consumers into stores.
In order to combat this challenge and create a unique experience that ensures your customers want to keep coming back, you need insights on a range of consumer behaviours – What times and how often are they shopping? What are they buying? How crowded is your store at what times?
This is where retail analytics comes in.
What is Retail Analytics?
Broadly defined, retail analytics is the process of capturing data about a specific business activity and then collating it into readable information
In this age of “big data”, being able to capture information about your customers through the use of retail analytics has never been easier or cheaper.
The challenge, and key to gaining a competitive advantage over your competitors, is implementing a Retail Analytic system and then knowing what data is relevant and what is not.
Collecting thousands of pages of data on your customer’s behaviour is fantastic, but if it has no relevance to your business, or more specifically your business objectives, then this data is essentially just numbers on a page.
Being able to identify what data is relevant to your business and customers allows you to not only make informed decisions about how to create a unique and memorable customer experience (CX), but also provides insights on how to improve a range of other business challenges.
Bits and Pieces
Unlike digital signage, there are less “standard items” required for a retail analytic solution. Every site needs sensors to capture data and connectivity to transfer that to a central database and then to a business intelligence tool (executive dashboard). Of course, these will vary depending on your stores needs and resource constraints.
By far the most popular solution is the people counter. Funnily enough, a people counter counts people and is frequently used to provide data on how many customers enter and exit a store over a given time period (foot traffic).
While this data can be useful for issues such as staff rostering, on its own a people counter is considered a “low end” solution. However, it is easily and often integrated to other data sources, such as POS or staffing data that adds significant business value.
Integrating your people counter with other sources provides crucial data that can helps enhance the customer experience and a range of other business KPI’s, such as conversion rates, wait times and average transaction values to name a few. This data ensures you are able to make informed, data driven decisions to improve efficiency in all aspects of your business.
How can we help you?
With over 10 years of experience in the retail industry working with some of Australia’s biggest brands, RetailMotion have been able to refine our retail shopper marketing offer to ensure we can create you a custom, end-to-end analytics solution that is right for your business.
We work with you from start to finish, meaning you won’t have to engage in the usual guesswork about what hardware and connectivity is required, how to develop an easy to use dashboard so all stakeholders have the relevant information at their fingertips.
This will ensure you not only get the correct retail analytic solution for your specific needs, but that you will have the tools to improve the CX, increase business efficiency and ultimately maximise your ROI.
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Retail Foot Traffic & In Store Analytics Company
We all know the importance of combining our expertise and experience with industry-specific knowledge in order to create powerful strategic plans and practical implementation techniques when it comes to growing a business.
But it goes without saying that our plans and strategies can only ever be as powerful and practical as the information which we’ve used to create them – so the importance of top quality analytics can never be overestimated.
What is Retail In-Store Analytics?
If you’re operating in the retail sector, in-store analytics is absolutely essential when it comes to increasing your increasing your foot traffic, converting traffic to sales, increasing the average sale value, and achieving a number of other highly desirable goals.
In-store analytics can be broadly broken down into a few distinct categories. One of the most straightforward categories is also one of the most popular and effective: foot traffic analytics.
By using sensors and other monitoring equipment, a retailer can determine the times at which the store gets busy, how many customers are entering and leaving at given times, and the general direction/route these customers tend to take when walking around their store (the customer journey).
Foot traffic analytics enables a retailer to place displays in strategic locations, fine-tune their staff rosters, and conduct a number of other activities specifically designed to increase conversion rates and sales value.
Why Choose Retail Motion for Retail In-Store Analytics?
When it comes to choosing between the various retail analytics companies available on the market, customers should keep in mind the outstanding reputation the team here at Retail Motion have built for providing superior retail store analytics at affordable prices.
Our retail store analytics services are wide-ranging and effective, and are used by some of Australia’s leading retailers. We can also help you achieve your objectives with powerful retail analytics solutions.
From small, family-run firms to large, reputable, international corporations, our solutions have delivered results for businesses with a wide range of backgrounds and an even wider range of customer-bases and objectives. We deliver retail analytics services which provide the strongest foundation’s for strategic planning and decision-making.
Contact Us Today for More Information
If you’re currently looking for retail analytics companies who can provide you with a comprehensive service, covering everything from coming up with innovative initial plans to implementing data collecting strategies and transforming raw data into useful information which can be analysed and developed, RetailMotion is the company you’ve been searching for.
Our team of highly trained and experienced professionals have all the knowledge and know-how you require in order to plan, implement and interpret the results of an effective data collection scheme – giving you the tools and information you need to grow your business in the future.
Contact us today for more information about this or any of our other services.
Retail Motion provides the best digital signage in Australia. We specialise in digital menu boards, retail in store analytics, digital advertising screens & interactive digital signage. We service all of Australia, including Sydney, Brisbane & Melbourne.
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