Improve Your Store Operations to Maximize Sales and Lower Costs
Store Operations use traffic to measure store performance. Sales figures alone don’t tell the full story. By looking at the ratio of traffic to sales, retailers can accurately compare stores with low volume to stores with high volume. Stores that serve the customer well will have higher conversion than those that don’t. In addition, Operations can use traffic analytics to plan staffing for the store. Having more data to drive decision about labor allocation in the store can help maximize sales conversion and minimize labor costs.
Analyze where your visitor / staff ratio is too low and make shifts in staff planning will drive your conversion rate
With the information our sensors provide and the staff and sales information you already have, you can detect weak spots in your day-to-day operation and take action to drive sales
Comparing store performance just based on sales data and revenue may show your best performing stores, but the picture can change if you add visitor information to the dataset to tell who your true champions are.
Get Actionable and Reliable Traffic and Sales Conversion Data
Traffic, or people counting, is measuring the number of visitors to the store. The ratio of visitors who purchase to visitors is known as Sales Conversion. It is an important performance metric for all stores and specialty retail. Sales conversion is a good store-to-store comparison because it accounts for traffic volume. If one store gets high traffic and gets the same conversion as a store with low traffic, the stores are performing similarly. Their ability to convert a visitor to a customer is similar. If only traffic was considered, the high traffic store would seem to be performing better. Conversion can be measured for the store, a department or a product display. Behavior analytics or proximity analytics can be used along with Point of Sale (POS) data to measure conversion. With this knowledge, you can better plan labor schedules and reliably measure the effectiveness of marketing efforts.
Why is the conversion rate higher in some stores than others?
How are traffic patterns and conversion rates trending over time?
How are seasonal events and marketing promotions changing the patterns?
Compare conversion and traffic rates to employee and manager schedules to optimize customer service
Go Beyond Typical Sensor Accuracy for Maximum Customer Insight
Brickstream combines the benefits of 3D with advanced algorithms to provide the industry’s most accurate and flexible data capture solution. Sunshine, shadows, large volumes of traffic, temperature variations, even what people are wearing can impact the accuracy of measurement depending upon the technology used. Our technology correctly measure people’s behavior across a wide range of environments and volumes in a variety of space layouts to deliver accurate store metrics.
Accurately distinguish between people, objects and the background of the space
Identify the direction of travel (entering or exiting)
Handle high volume traffic and identify and measure groups (for example, families shopping together)
Handle environmental issues (light, heat, shadows)
Distinguish adults from children
Optimize Your Mall Operations for Pedestrian Traffic
For a mall operator, delivering shoppers to their retail tenants is vital to the business. Rents may be based on people traffic figures, and, in some regions, sales conversion. Traffic and traffic flow influences security staffing levels and the “rounds” followed by security staff.
Analyzing customer behavior in different areas of the mall such as the food court, theaters, outside terraces/eating/gathering areas helps understand the effectiveness of each space.
Increase Efficiency in Staff Scheduling
Labor allocation can also be optimized using traffic data. For example, security staffing can use visitor traffic data, and cleaning/maintenance staff can use it to schedule work when people traffic is at its lowest. Traffic volume and sales conversion are reported daily, weekly, monthly and annually. Shopping units, adults and children may be reported separately.
Improve your Marketing Return on Investment (ROI)
Mall operators can also measure the effectiveness of their marketing campaigns and advertising to drive traffic to the mall. Metrics such as CPM (Cost Per Thousand) and SSF (Shoppers per Square Foot) are measures of marketing effectiveness. Brickstream’s sensor technology can help accurately collect data to understand these metrics.
Typical areas mall operators use Brickstream devices to continuously track traffic:
Lanes • Lane intersections • Entrances • Escalator • Car park entrances • Theaters • Food courts • Fitness centers • Markets