Digital retailers and marketers have long used heatmap analytics on their web-pages. They monitor and track how long users stay on a certain page. They use these metrics to carry out AB tests that assist in determining which marketing strategies are the most successful.
Additionally, when users click an icon, digital heatmap analysis software tracks how long those potential customers hover above a shopping cart and at what point they decide to either check out or abandon their cart all together. Now imagine how useful heatmap analytics can be when applied to a retail environment.
Similar to its digital counterpart, retail heatmap analytics assist retailers in optimizing their physical presence in the physical world. The integration of physical space with digital analysis is an exciting way to gain qualitative insight into shopper behaviors. This data will influence your resource planning and assist your sales and bottom line.
Not only does heatmap analytics monitor customer flow throughout the building, but it records the length of time customers’ browse, where they linger and how they choose to exit and enter the building. This information is presented in a highly visible heatmap that provides retail business owners a clear view of how their customers navigate their store.
Here are some ways this highly insightful visual data helps retailers optimize their resource planning:
If your business has extra inventory and you are seeking to rid yourself of overstock, analyzing customer flow throughout your location is one way to learn where to place the product for quick sale. Retail heatmaps assist merchandisers in determining where and how to place displays that can increase customer engagement
Heat-maps help you definitively answer the questions: Which area of the store has the highest visibility? Has the most traffic? Where is space underutilized?
Many merchandisers have a sense of the best place for a sales item, but having quantitative evidence proves intuition is correct. Or, it may correct imperfect intuition.
Increase Point of Sale Efficiency
Tallies, counters and timestamps ways business owners can ascertain how many people move through the checkout lane during high traffic times. This is helpful but not always accurate nor does it reflect other pertinent customer behaviors and predict shopper flow.
For instance, it is hard to detect how many potential customers vacate your location when lines are too long. Heat-mapping analytics is a solution that provides data on how long customers are willing to wait during high traffic times. It also provides you with the data you need to forecast high volumes of customers. Both of these pieces of information help you better manage your human resources.
Since retail heatmaps track customer movement as well as customer dwell times, managers can strategically position employees in locations where they can guide traffic, prevent bottlenecks, and also where they can answer questions and offer assistance to customers who have paused during their customer journey. Knowing your store’s hot and cold zones allows you to optimize your staff resources.
Conservation of Resources
Are there areas of your store that are underutilized? If so, are you paying for light, heat and maintenance for those areas? Heat-map retail analytics, powered by in-store video, clear your blindspots and bring to light underutilized space. This kind of information helps provide you with quantitative tools that can inform your decision-making process. Should you find new space? Revitalize existing floor-plans? Create new displays? Retail heatmaps help your optimize your store’s design or layout.
The internet of things holds the promise of integrating physical phenomena with the grid. For many retailers, their brick-and-mortar locations are supplemented by their online presence. In short, enterprise retail resource planning software solves problems for both locations, increases productivity and streamlines business flows.
For more information about how heatmap analytics can improve your resource planning and otherwise benefit your retail business, please contact us.