Having a marketable product in a high traffic retail location are two important elements in successfully making a desired profit. The idea and the execution of the idea are different because of the variables in-between. In this regard, let’s look at how heatmaps improve retail stores’ resource planning.
Whether starting a business or an existing owner willing to change, adopting a lean methodology in all aspects of business is a profitable idea. What this looks like for a retail store is efficient resource planning and superior organizational ability. All those unknown factors eating away at the profit are found and eliminated with business intelligence.
The PHeat – Heatmap Analytic is a form of business intelligence for physical retail stores. This cloud software service simply integrates with existing CCTV cameras and systems. Owners can then access the data from any digital device with an Internet connection, so they can view and manage data and tools from the dashboard interface. The heatmap doesn’t show the shopper’s body heat, but rather the “hot and cold zones” in the store (determined by dwell times).
RetailFlux’s products offer retail stores the ability to analyze their store’s traffic, by distinguishing it with measurable factors, such as: passerbys, dwell times, people count, and zone specifics. This is actionable business intelligence, fresh everyday, within an efficient and innovative cloud-based system.
Improving Resource Planning
Now, by combining lean methodology and heatmap analytics, retail stores can experiment with different layouts, products, workforce, etc., in order to determine the leanest way to proceed. Questions like these: what products are leaner to carry, what marketing efforts are worth the money and time, which displays attracted attention – will start to find proven answers based on data evidence.
Resources include all aspects of a business: the products, the displays, the marketing efforts, systems, partners, tools, physical store, location, workforce, etc. Using only the resources needed, without depriving the business of profitable innovation, means starting small and lean, then adding on to this according to verifiable evidence. This evidence is the data from RetailFlux’s analytic solutions, including the PHeat – Heatmap Analytic.
For instance, optimizing the floor layout for a retail store may include spacing it out and giving customers more room. A business owner wanting to unclutter their retail store decides to clear out and strip down displays and products, then tracks the heatmap data to see if the move was profitable. Did the store get more traffic, where did the customers dwell, and did specific zones perform better?
Armed with this daily business intelligence, store owners can optimize their stores’ layout and products to increase traffic and dwell times.
Physical retail store businesses need effective business intelligence to expertly resource plan. Efficient resource planning involves all aspects of a business’s workflow, and will result in increased profits with less effort. Gathering the data from PHeat – Heatmap Analytic and the RetailFlux suite of products, enables retail store owners to gain key insights into their customers’ behavior. These insights combined with a lean methodology, optimizes a store’s layout and products.
RetailFlux is an innovative solution designed for retail stores, so owners can understand their customers’ behavior from a more in-depth angle. The heatmap is easy to integrate with existing systems, CCTV cameras, and day-to-day workflows. Customers also have ongoing support and access to resources from RetailFlux.
Business expenses and space rent is costly in the retail store environment. Large and small retailers sometimes struggle to convert traffic, many times the numbers and details of customers and traffic are never even known. RetailFlux has some affordable tools for physical retail stores, which are sure to change the owners’ perspectives on their customers’ behavior. Please contact us today to learn more about how heatmaps can improve resource planning.