Today’s customers are very ‘me-centric’. Whether they’re at the local store, shopping centre or retail park, they expect a fulfilling, streamlined experience.
The trouble is, no two shoppers think the same today, and it’s difficult to meet an increasingly diverse range of needs. That’s where retail intelligence comes to the fore, by helping retail organisations to understand behaviour patterns in greater depth.
Essentially, business intelligence turns customer nurturing from an art to a science. Through the latest technologies, you can understand where shoppers are going and what they’re purchasing – even whether they’re regular visitors or first time buyers.
Insights stem way deeper than simply peaks and dips in consumer footfall. This is because the most sophisticated solutions on the market combine people counting information with other data streams, to analyse the customer in granular detail.
This additional data can include figures generated by your business – such as marketing spend and point of sale transactions – and third party data, including the weather, to answer critical questions such as:
• Where are sales being lost due to poor staff-to-customer ratios?
• What percentage of visitors are leaving stores and shopping centres empty handed?
• How many visitors are first timers, and how many are repeat business?
• Which marketing activities are returning on investment?
The volume of data being generated in retail today is something of a double edged sword. On the one hand, it presents greater opportunities to get to know shoppers better. On the other hand, too much data can be overwhelming.
The number one objective when investing in a retail intelligence solution should be finding a platform that makes it easy for you to extract useful insights. ShopperTrak Analytics Suite, for example, has an online dashboard that can be used on mobile devices, for insights on the go.
Equally, very few users within a business will want access to the same metrics. ShopperTrak Analytics Suite can be customised by decision maker, to prevent unnecessary data streams clouding their judgement.
How quickly insights can be turned around is also of great importance. Ideally, you want store and centre managers to have access to data within the hour, so that they can continually optimise the customer experience.
The future of retail intelligence is very much focused on streamlining the volume of data being generated in retail, to create useable insights for key personnel. ShopperTrak Analytics Suite is very much part of this movement. Our mantra is to help retailers and shopping centres understand the customer inside and out, to more closely meet their needs. Businesses that achieve this will generate happier shoppers, longer relationships, and increase customer lifetime value.
By enabling users to tailor the insights they see, and delivering information by the hour, day, week, month and year, we enable retail businesses to understand short and long-term customer behaviour patterns.
Get in touch to discover more about how ShopperTrak Analytics Suite can help you create fulfilling, streamlined shopper experiences.
Book your free demo to see how retail stores, shopping centres and other businesses benefit from using ShopperTrak.
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