Footfall Analytics in Retail

Footfall analytics helps to make critical operational and strategic decisions for any type of business, improving conversion rates, maximizing sales, optimizing costs and increasing brand positioning.

Friday, September 24, 2021

Thanks to mobility data, retailers can get a deeper insight into their business by analyzing changes in sales volumes and the consequences of fluctuations in footfall levels inside and outside stores. At the same time, they can measure the effectiveness of marketing campaigns, providing a clearer picture of what really works for a target audience.

You may be interested in: "Walmart Vs. Soriana: Consumer Foot traffic Analysis".

The ability to analyze footfall data and conversion rates provides a clear view of staff and store performance by hour, day or week, identifying areas for improvement within key business metrics.

By further analyzing customer dwell time and visitation rates, footfall data analysis provides insight into the customer experience at the point of sale.

How can profitability be maximized by analyzing footfall at the point of sale?

Consumer footfall data and analytics offer the ability to maximize profitability at the point of sale by identifying, for example, when staffing costs can be reduced or when less inventory can be held. Another benefit is the tracking of in-store traffic patterns and forecasting where key outlets/products should be placed to enable the business to make the most of incoming traffic.

Also read: "Retail: Benefits of Data Monetization."

The result of effective mobility analytics shows several types of insights, for example:

  • Customer visits per hour, day and week
  • Unique customer count
  • Identification of potential customers
  • Frequency of visits
  • Sales conversions
  • Which other stores customers visit
  • How many floating customers enter or pass by a point of sale
  • Customer dwell time
  • How long customers spend in a store
  • Customer experience measurement
  • The percentage of customers buying

"This image represents an analysis of the evolution of visits of two popular fast food franchise outlets in Mexico over a period of three months."

At PREDIK Data-Driven we provide analytics based on mobility data to measure different factors and provide business intelligence solutions for any type of industry.

[formulario_9001 Do you need to implement mobility analytics in your business to maximize revenue and optimize costs? Contact us!]

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