Technology has come to be an integral part of our lives from our homes to our businesses. They are tools that help us achieve greater efficiency and understand the world around us better.
Technology has also begun to revolutionize the retail industry as well. New technologies have emerged to allow business owners to manage their business wiser, realize their store’s greatest potential, and understand their customers better.
How Technology Has Changed Retail
Technology has allowed us to optimize business strategically and smartly. Technology allows us to digitize shopper analytics making it easier for retailers and vendors to see where customers normally go when they first enter the store, where they spend the most time, what the typical demographic of customers are, and much more information that is valuable for optimizing the business.
Applying technology to retail provides more insight into customer habits and trends. Understanding the customers is the #1 priority for running a successful retail business.
Retail Analytics Allows Us to Do Powerful Moves
- People Counting – Understand what the typical number of customers in a given period is. When do most customers enter during a typical day? Do they come mostly throughout the week or on the weekends? Utilizing the people counting data provides various strategic improvements that can optimize in-store activities, increase conversions, better understand behavior patterns and create effective management angles.
- Heat Map – Heat maps allow you to see where customers spend the most time. Can those areas be optimized to increase the customer experience and business success? Know store areas that have the most sales potential and utilize them without wasting time.
- Shopper Flow – Understand where customers move when they enter the store. Where are they more likely to go? Recognize your customers with clear images including passersby, impression and dwell time events.
- Route Map – What is the typical route of the customers? Do they start right and make a circle towards the left? Do they head straight down the middle? Learn your shopper behavior pattern.
- Queue Monitoring – Understand how many customers are in line and for how long. Is there a way to optimize the queue for a better customer experience? The queue analytics application calculates a number of people who do transactions, wait for the transaction and their average service time. These solutions help you to quickly respond to customer density in the queue in real-time. Through these results, customer experience has completed efficiently along with reducing waiting time.
- Demographics – Who is your audience? Finding more information about your target audience demographics allows you to understand who shops at your store and how to cater to their wants. Have powerful marketing strategies by getting to know your customers’ profiles.
Link Analytix compiles all of the data and helps you gain more insight into your customers. Through this, you can create a unique shopper experience, increase customer retention rate, and grow your company to new heights.