Retailers are set to gain a better understanding of store traffic, as Ipsos Retail Performance takes its people counting technology a step further with a technological ‘first’.
Despite the immediate convenience of online shopping, the bricks and mortar retail industry is standing strong against the competition. By understanding where they stand in the market, retailers can create effective and informed strategies to keep traffic as high as possible. As the industry is ever changing, this is what they can expect over the coming year.
Understanding how effective your retail kiosk is at converting sales is a tricky science. Often, operators are selling to customers in very high traffic concourse areas in mall and travel retail environments. So how do you understand what is attracting those that do stop to your business?
In an industry ruled by competition, setting key performance indicators (KPIs) and organizing audits are often a store manager’s first steps towards improvement. By understanding customer patterns, retailers can improve the efficiency of their processes in order to increase sales, traffic, and overall profitability.
All retailers face day-to-day challenges, yet despite today’s challenging climate, there are still plenty of opportunities to be had. By conducting a detailed retail SWOT (strengths, weaknesses, opportunities and threats) analysis, actionable insights can be gained to help retailers understand the future of their own organisation.
Earlier in the year we headed to NRF, and here’s our summary of retail trends in 2019, and what you should expect in the retail sector over the next 12 months.
Throughout the year, we welcome retailers and industry experts at retail trade shows such as NRF to discuss all things store traffic and customer behavior-related. Talking points often circle around how to use the data provided by traffic counting technology, underpinned by the general consensus that retailers should start with the consumer on every decision.
At every trade show we attend, we meet fantastic stores from across the globe who recognize the need to pay better attention to traffic – and some who are already doing it but want to use their data more effectively.
