There have been many challenges for retailers and shopping centres in 2014, not least making sense of the overwhelming stream of information we can now gather about shoppers.
Retail today can be a classic case of not seeing the wood for the trees; customers leave a fingerprint wherever they travel, but bringing this information into one coherent stream – which can be turned into actionable insight – is something many businesses are still striving to achieve.
How can retailers and shopping centres better capture customers in 2015?
The good news is, technological advances are enabling retail businesses to create in-depth customer profiles. The combination of people counting equipment, operational information, data analysis tools and new solutions drawing on connectivity of consumers’ mobile devices can deliver previously unavailable information, such as:
- Visitor movement around the store or centre – not just how many come through the entrance
- Dwell time in locations on the shop floor or around the precinct
- Success of promotions and events
- Percentage of new and repeat visitors
- For retailers, the number of passers-by versus store visitors
How can retail businesses use in-depth customer insight?
The critical challenge for retailers and shopping centres in 2015 after combining data streams is to make sure key personnel have access to these metrics – so they can make informed business decisions based on accurate customer insight.
For instance, a poor ‘peel off rate’ into the store can be addressed by the marketing and merchandising teams experimenting with visual merchandising and window promotions, to determine what attracts the most custom.
And by making data-led decisions, retail businesses can create shopping experiences consistent with consumers’ needs. This will enable them to increase customer value, enhance in-store and in-centre journeys, and improve loyalty in 2015.
For more free guidance, download FootFall’s new report, Uncovering Amazing Customer Potential: Turning an Overwhelming Stream of Consumer Data into Actionable Business Intelligence.