Customer insight
footfall analytics in retail
In-store analytics is a set of data-driven tools and techniques used to improve the customer experience within a retail store. It involves collecting and analysing customer data to gain insights into improving customer service, increasing sales, and optimising store operations.
By collecting and analysing data such as customer demographics, customer behaviour, and product performance, retailers can understand how to better serve their customers and improve the overall experience in their stores.
How in-store analytics can help retailers
In-store analytics is an invaluable tool for modern retailers. It helps retailers gain insights into customer behaviour and store operations, allowing them to make more informed decisions. By analysing customer data, retailers can identify trends and preferences, allowing them to tailor their products and services to meet the needs of their customers better.
By assessing customer feedback and sales data, retailers can determine which employees are performing well and identify areas where employees need additional training or support. Retailers can use in-store analytics to ensure that their stores run efficiently and effectively, resulting in increased sales and customer satisfaction.
The total number of retail outlets in the UK in 2022 stood at 317,005
Source: Retail Economics, ONS. Find out more here.
Identifying traffic patterns
Retailers have long sought effective ways to understand their customer’s behaviours and preferences to maximise sales and create a more enjoyable shopping experience. Identifying traffic patterns is one of the most powerful ways to gain insights into in-store operations. It can provide valuable data that can be used to optimise store layout, product placement, and staff placement.
By tracking the movement of customers in-store, retailers can get a better understanding of how customers are navigating their stores and what products they are most likely to purchase. This data can then be used to adjust the store layout to improve the customer experience.
For example, retailers can use traffic pattern data to identify areas of the store that are being underutilised and then move products and displays to those areas to increase the visibility of those products. Additionally, retailers can use traffic pattern data to determine the best locations for staff members to be stationed to provide customers with the best possible assistance.
For example, retailers can use traffic data to identify which sections of the store receive the most foot traffic and then adjust their product placement accordingly. Additionally, retailers can use the data to identify busy periods of the day and adjust staffing to ensure that customers receive the best possible service. Ultimately, by utilising traffic data, retailers can optimise their stores for maximum efficiency and provide a better customer experience.
61% of shoppers prefer shopping in-store, while 39% shop more online.
Find out more from the UK Omnichannel Retail report 2023 here.
Loyalty schemes
Loyalty schemes are an effective tool used by retailers to reward regular customers and increase customer loyalty. These schemes involve customers registering and collecting points or rewards for every purchase they make.
The collected points can then be redeemed for discounts or special offers. Loyalty schemes are also used to track customer shopping habits and preferences, allowing retailers to target their promotions better and tailor their offerings to the customer.
By providing customers with rewards and incentives, loyalty schemes help to create a positive customer experience and encourage customers to return in the future. In addition, loyalty schemes can differentiate a retailer from its competitors, creating a competitive advantage.
Closing thoughts
By leveraging in-store analytics, retailers can gain insight into customer behaviour and preferences, allowing them to provide better service and higher customer satisfaction. In addition, the use of in-store analytics can help retailers optimise their operations and reduce costs. Furthermore, retailers can use in-store analytics to facilitate customer engagement, loyalty, and targeted marketing.
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