Dictionary of terms used to describe people counting, retail analytics, passenger counting, footfall systems, smart city counting and related topics.
How to use retail data to enhance business profits: increase conversion ratio, average transaction value and number of items per transaction.
Many retailers collect people counts, but few use the information to its full potential. Here’s why they are missing out on easy opportunities to grow sales. It’s not the number of people going into the store on which they need to focus, but what the potential customers do when they get there. Converting more browsers … Continue reading Why retailers miss easy opportunities to grow sales
A small increase in sales conversion leads to a significant increase in sales, even when no other factors are changed.
The pressures on retailers to cut costs are huge. One way of doing this is to reduce staff numbers. But is this cost-effective? Retail profits depend on attracting people into the store and converting them into customers. When people visit the shop, there are many factors to converting the traffic into sales, not least the … Continue reading Optimising staff levels to increase profits
How much customers buy is a direct result of how long they spend in a store. The longer the average shopping time, the more a store sells. The shopping time reflects the overall level of service in the store. The better the service, the longer people stay and the more likely they are to make … Continue reading Revealed: why a longer ‘average shopping time’ pushes up retail sales