One advantage a retail store enjoys over online sales is in the convenience shoppers have to inspect and try out goods before completing transactions. For this reason, retail stores can align with the emerging trend of e-commerce.
With the changing dynamics in the retail industry, physical stores have to put into consideration other aspects to stay at the top. Chief among the informing tool’s is people counting. This approach plays a significant role in the provision of insights while also acting to provide outstanding customer experiences.
If you’re wondering how door counting can work to change the dynamics of a retail store. Here are some of its spin-off effects.
Finance and Operation Yardsticks
Key performance indicators (KPIs) direct a business entities management of financials and operations. The markers generally concentrate on sales, gross/net profits among other financial parameters. For the key performance indicators to succeed, it is vital to have established baselines. This control check works out traffic responsible for generating sales, in addition to actual store visits.
In doing so, it is possible to calculate the overall conversion rate and also identify the particular category of merchandise that is bringing in the sales. As a way of measuring performance, the key performance indicators track the following:
- Number of visits within a given period
- Aggregate conversion rate
- Invoice conversion rate
- Conversions per given category of product sales
- Attach scores (in cases where accessories sell along with leading products)
- Customer visits to a specific area or zone of the store
As a critical driver of growth, excellent customer experience compels shoppers to buy more from a given store. The best people counting video analysis reports, therefore, are essential to help business owners identify the appropriate times to put forth the best sales efforts. This approach allows the owners to track hourly/daily/weekly/monthly buys and understand consumer trends better.
This way, it is possible to have a proper allocation of hours to sales personnel. In the retail world, personal touch, interaction, and consumer experience are the real difference makers, and this calls for the right faces at the right time.
In an era where physical stores are aligning with an online presence, the same approach of online stores may not work as efficiently with your retail stores. To provide the best customer experiences, people counting is vital.
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