Five Reasons Why In-Store Analytics is Important for Retailers
It seems like more and more retail stores are losing out to online retail. You rely on your customers to return to your store to get the items they need. Most retail analytics software helps to improve the shopping experience. Here are some reasons why this software is important to have in a changing industry.
Mining and Understanding Data
The reason why businesses want to understand their customers is to increase profits and customer loyalty. There are many ways to achieve this without the use of in-store analytics, but most of these techniques don’t work. With the right in-store analytics software, you can gain insight into your customers. This can help you determine where else your customers shop and get information about people who window shop but never enter your store.
This would use a combination of Wi-Fi technology and information from CCTV images to help you get more information about those customers. This doesn’t infringe on policy regulations but gives you some insight into your customer’s shopping habits.
Understand Consumer Behavior
With this data, you can learn more about your consumer’s behavior and shopping habits. One way to do this is through mood analytics. This type of technology requires the use of CCTV camera images to capture the facial expressions of your consumers. This can help create promotional coupons and vouchers they can use on their next visit.
This type of technology sounds intrusive to businesses. But most customers expect businesses to know what they want. When you shop online, every click is recorded and marketers create advertisements, coupon codes, vouchers, and other promotional materials based on that date. With in-store analytics, this is the same type of technology but for brick-and-mortar retail stores.
Better Use of Staff Resources
There seems to never be enough staff on board in the retail industry. With in-store analytics, you can make better use of the staff you have. This software will give you information about customers, holidays, special promotions, and other events. This gives the managers some insight as to when customers will flock to the store as well as other statistics that may affect these factors.
This can help create a better in-store experience for the customer. You can also use this information to save problems such as allocating hours or changing shift patterns for busy times. This can lead to more productive staff and happier customers.
Offers a Better Customer Experience
This type of technology can lead to an even better customer experience if used the right way. Customers love it when their favorite stores and brands offer a personalized shopping experience. The e-commerce world is focused on creating a user experience, and this is something that brick-and-mortar stores can offer through in-store analytics.
Customers hate it when their favorite items are out of stock or hard to find. Smart shelves allow managers to know when an item is out of stock and can ensure refills to be done in a shorter amount of time. This means that your customers will always have what they’re looking for. These technologies can create a better shopping experience and increase customer loyalty.
They’ll keep returning to your store since they know what to expect. Use text alerts to give them promotional coupons or vouchers with just a few clicks. Let them know about upcoming promotions and special events. This tailored experience will have your customers returning to your store.
Best Use of Visual Merchandising
Visual merchandising is important in retail stores. It’s important to attract your customer’s attention as soon as they enter the store. There are plenty of visual merchandising tools to improve the layout of your store. Real-time data from in-store analytics can help you determine what works and what doesn’t.
It can let you know if customers are looking at a display or if they’re walking right by it. You can see how many customers have walked past a display. This can cause you to relocate the display so you can increase exposure and sales. You can determine which displays work best and are the most noticeable in your store.
These are just some of the ways that in-store analytics can help your store. By offering a personalized shopping experience, you can compete with the e-commerce industry by targeting your customers. You can experiment with various strategies to see what’s working. The better use of your staff and resources will offer an improved customer experience, resulting in loyal customers and happier staff.