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Increase Your ‘Batting Average’ with People-Counting Data

This article originally appeared on Data-Informed.com

Every day, retailers wonder how they can increase sales, optimize staffing levels, and improve store performance across multiple locations. It sounds like a lot to ask for, but it’s possible to get all that and then some. And it starts with people counting.

People counting is a critical part of tracking retail conversions, arguably the most crucial metric for retailers. With that in mind, it’s hard to understand why it’s so woefully under-utilized. Failure to get a firm hand on retail conversion rates is a massive missed opportunity.

Shifting the focus to conversion can completely transform a retail organization, but to make this happen, retailers need to count people.

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The Internet of Things in a Retail Store [Infographic]

The Internet of Things (IoT) is the network of physical objects or “things” embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data.  -Wikipedia

So how can retail stores benefit from IoT? In the infographic below we share the most common types of “things” that integrate IoT technology and give a brief explanation of how retail IoT implementation can be a key to success.

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The Internet of Things As It Applies to Retailers [Infographic]

What is the Internet of Things (IoT)?  How can IoT be used in retail to improve efficiency and customer service?

The IoT is the sensors that are embedded everywhere combined with the technology that helps the sensors communicate in order to connect people and processes.

In the infographic below, we show how IoT is being utilized in retail stores and explain the most common opportunities and challenges.

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What IoT Means for Retailers (You Have to See This)!

Ever wonder why you should care about the Internet of Things (IoT)? It seems to dominate conversations these days. As you start to notice this common theme floating to the surface you’ve probably found yourself wondering about what IoT means for retailers. Is it something you should pay closer attention to?

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8 High-Value Sources of Data for Retail Analytics

Is your company fully utilizing the capabilities of retail analytics tools to gather and report critical information?

Retail data analytics provides business owners with statistical facts and figures that allow you to investigate how well your business is doing and where it needs to focus its attention to improve performance. Smart business owners and managers base strategy decisions on facts and have embraced the capabilities of retail data analytics tools to improve their information gathering and reporting.

Using retail analytics, you can compile many different pieces of high-value data from multiple sources and bring it all together to form a comprehensive view of your business.

8 top sources of information for retail data analytics are:

  • POS systems
  • Video cameras
  • Mobile devices
  • Sensors
  • Weather reports
  • Time and attendance systems
  • Wi-Fi infrastructure
  • Promotional calendars

Let’s take a look into how these data sources can help your business gather data and compile retail analytics.

Want to learn more about harnessing the power of retail technology?

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Why Retailers Absolutely Need People Counting

Most retailers are missing massive opportunities by woefully underutilizing one of the most critical numbers: The conversion rate of visitors to buyers. Are you surprised?

Retail conversion is probably the most crucial metric for retailers.

Want to learn more about harnessing the power of retail technology?

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How to Improve Sales With In-Store Analytics

It’s no secret that online retailers have almost universally adopted the practice of using analytics to improve sales. When you can track a customer from the moment they hit the landing page all the way through to the end of their purchase, why wouldn’t you?

Comparable versions of the sophisticated analytics used by online stores are also available to brick and mortar retailers. They’re just not used anywhere near as much as they are online.

If you knew you could improve sales through the use of in-store analytics, would you implement a few new tools to measure what’s going on in the store? Of course you would!

In case you need a little convincing, here are just a few of the ways in-store analytics can help increase sales.

Want to learn more about harnessing the power of retail technology?

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5 Amazing Uses of People Counting

There’s a popular saying in the business community:

What gets measured, gets done.

It’s as true for stock performance as it is for an in-store promotion. It’s also one area where online retailers currently have an edge over their brick and mortar competitors. Online, it’s easy to track every step of a consumer’s shopping trip, from the landing page right through to the payment.

Can you replicate the sophisticated metrics used on the web to increase sales in the store? Absolutely! It all comes down to people counting.

Want to learn more about harnessing the power of retail technology?

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