Many retailers may be missing out on opportunities by underutilizing one of the most critical numbers: conversion rate of visitors to buyers. As a retailer, you may already know what is working and what isn’t for your store but by using people counting metrics, you can amplify that into actionable results.
People counting or counting the foot traffic in any store can be used for smarter business decisions that can lead to profitability and operational efficiency. People counting technology includes retail analytics, queue management and security.
A retail outlet has two objectives – get people into your store and get them to make a purchase. People counting can help you improve your conversion as it assesses:
- Locational advantage – is one of your store suffering / gaining as a result of its location?
- Attraction power – compare and analyze what themes, colours, etc. attract people to your stores, analyze your merchandizing efforts, success of promotional activities, etc.
- Hold factor – how long do people stay in the store? This can help you improve customer service and be future ready when planning activities, displays, etc.
People counting goes beyond just the number of people who are visiting your store. It is a metric that can help retailers determine:
- Sales revenue with respect to traffic
- Staffing needs
- The success of promotional activities
- How different outlets are performing and what are well-performing outlets doing differently from poorly-performing ones
The Securens Approach
Video Analytics can help your organization track and understand business as an overall entity that is also drilled down to an individual store by using people counting that is co-related with PoS billing data.