Throughout the year, we welcome retailers and industry experts at retail trade shows such as NRF to discuss all things store traffic and customer behavior-related. Talking points often circle around how to use the data provided by traffic counting technology, underpinned by the general consensus that retailers should start with the consumer on every decision.
Here are a few ways we think retailers can use traffic data to add competitive advantage:
- Understand the customer journey – making a meaningful improvement to your shoppers’ experience is really difficult if you have a limited understanding of their current journey through your stores. Traffic counting can help you build a clear picture of the who, what, when and where your customers are engaging with your store.
- Discount your staff in the number crunching – if the nature of your store is to have employees in close proximity to your traffic counting technology, this can cause great consternation for your store teams, impacting their conversion rate. Investing in staff exclusion innovation, as part of your traffic counting technology means you can make decisions based on even more insightful data.
- Improve the customer experience – once you have a reliable blueprint of shopper behavior, you can focus efforts on improving customer experience. Where are the pinch points impacting conversion rate in your store? What are the peak entry and exit times? How does store layout impact traffic? Traffic data can help answer all of these questions and confidently inform your strategy for change.
- Look at the impact of promotional periods – testing special offers and discount periods can be costly if you have a limited overview of who and when customers are taking advantage of these deals. 38 per cent of shoppers look for offers before they shop, and traffic counting can provide a real time, before and after overview of the traffic success of your promotional periods. This data can help you make decisions about when, where and which similar offers should be deployed again.
- Consider conversion rate performance against competitors – insight into your markets is a valuable indicator of success, highlighting performance versus your competitor landscape at a set point in time, or over a longer period. For big retailers with global or national reach, this kind of data can indicate which locations need more attention, whether it’s better marketing, or even further research.
- Identify best practice – for retailers with a significant portfolio of stores, identifying which locations perform best (attracting the greatest traffic numbers and driving impressive conversion rates) and then defining the learnings that can be shared among the lower performing stores, is incredibly valuable.
For more information about staff exclusion innovation and other traffic counting technology, contact us today.