4 Key Benefits of People Counting
The biggest advantage a retail store has over online shopping is that a customer can physically check and try products. In a clothing store customer can try on clothes and can feel and assess the quality, fit and how comfortable it is unlike an online store. This is the main reason why retail is never going to die.
Though, dynamics have changed today, retail owners need to look at various other aspects to be on top of the game. People counting plays a very big role here in providing insights and acting accordingly to make a very good experience for visitors.
You would wonder how people counting can change the dynamics. Here it is how it can help:
Financial and Operational Parameters
As a business owner you need to be on top of your all financial and operational KPIs (Key performance indicators). A financial KPI would generally involve Sales, Gross profit, Net profit and other important financial parameters. The base line is important in these KPI table, to measure how many customers generates sales, how many visited stores. The conversion rate overall and in particular category of products is important KPI to measure your performance. There are various KPI which can be tracked here:
- Number of visitors during a given period of time
- Overall sales Conversion rate
- Invoice conversion rate
- Conversion rate in a particular important category
- Attach rates, if you are selling any accessories along with the main product
- Number of visitors in a particular area or room. Sometimes also applicable for museums, airports and other public places.
Customer experience is key for driving growth. You as a customer would tend to buy more if you have been treated like a king and provided with a best experience. People counting report helps owner to understand when to put forward their best sales force at which hours and during which events. Owners can track the most buy hours in a day, week, and month and understand trends better to allocate proper hours to sales staff. As the right face at right time makes the biggest difference in retail world. Its all about personal touch and interaction and customer experience.
Tracking Marketing Events
Not all promotional activities get the same response. Lot of things are not seen same by every customer. But a well thought out and timely promotion catch eyes of lot of customers. At the time of these promotional events, holiday season, special offerings it’s a good insight to understand the impact. It makes marketing efforts more efficient.
Counting footfall outside your retail store is another powerful tool to understand your marketing efforts to attract those visitors. You can understand how many of those footfall are actually entering you store on hourly, daily, weekly and monthly basis. That’s a powerful insight to work on attracting more people to your store.
We are entering into a new business world where you as a businessman need to align your physical presence with your online presence. Same strategy for your online store may not work for your physical retail store. These insights today are very important to be successfully providing best experience to you customers.