Technology helps you understand in-store customer behavior
Nowadays, every retailer concentrates its efforts and reverses its capital to better understand who their customers are and what they want.
The use of business metrics and KPI (Key Performance Indicator) often influences decisions on which channels, investments, initiatives and strategies to choose and why. All merchants with physical stores know that, in order to monitor the performance of their store and keep up with online commerce, they need to gather information about the habits of the customers inside the store.
How can you identify consumer habits? How can you know the results of a physical store?
To do this, a combination of digital technologies, monitoring and data collecting are essential. It is necessary to know at all times what is happening inside a store, and collect all the possible information on the transactions and the interaction of the customers with the products and the store.
This information, once treated, becomes more precious than anything else: they allow, in fact, studying the necessary strategies to multiply sales and popularity of a physical store.
However, data collection must also be meaningful. We must ask ourselves the right questions to better interpret the data collected by the devices designed to improve commercial performances, the so-called Retail Intelligence technologies.
Some questions to consider when collecting data through these types of technology could be:
Which are the areas with the highest number of pedestrians inside the store? Does the layout work or the store need a change in its decor? Is the staff prepared enough and in sufficient numbers to deal with any traffic peaks?
In which parts of the store do customers dwell more? Do you sell more products in these specific areas? Is it possible to optimize the different areas of the store? What is the relationship from online behavior to offline behavior, if we compare data regarding the customer’s online and in-store purchase path? Do customers who see a particular product in the store end up buying it online?
Since 2007, TC Group Solutions offers its customers the best Retail Intelligence solutions aimed at optimizing business performance. These devices are able to calculate the traffic inside and outside the store, the level of attraction of the windows, the entrances and exits, the time spent and the frequency of customer visits, identify the hot and cold areas of the store and the cost per potential customer.
All this information and many more (customizable according to customer needs) are then easily accessible thanks to the TC -Analytics, an integral control panel for retail professionals, with backup management on Cloud and an almost unlimited scalability, which allows to analyze all the criteria on customer behavior obtained from the different hardware modules installed in the stores, and to compare them with the internal variables of each store (stock, space, prices, special offers, staff and sales).