The importance of measuring Footfall data and why you should take advantage analytics
KFP Blog - August 22, 2019
Retailer’s looking to expand need to find commercially appropriate locations that will give them the growth they need to support their expansion. Data-driven decision making is one of the better ways to pre-measure any expansion efforts for a retailer.
Imagine if you were looking to expand into a shopping mall, create a pop-up store or expand on-to the high street but you had no idea how much potential traffic passing by can be generated into actual business.
At KFP, we have the right traffic counting solution where you can see the volume and frequency of customers walking by your retail store at any given time. Not only this, but you can also identify which are the most popular trading times and therefore, maximise sales and ensure sufficient staff resourcing is available.
Expanding a retail location can be costly but very profitable with the right amount of traffic. Traffic counting solutions give you valuable data to make an informed decision on whether to expand into a new location and if that new expansion would be cost-effective. With the right traffic counting technology, you are able to do this.
As a leading Retail IT partner, we can supply the right traffic counting solutions for your existing retail estate. The traffic counting technology can report in real-time, giving you the detail you need to measure your store effectiveness for example, how many customers are in your store at one given time and what particular promotional products are the best performing.
In existing store locations, utilising the data accumulated from customers purchasing in-store, you are able to identify where the sales are coming from. If you know which high performing products are selling or which zones are most popular in a shopping mall you are more informed to make that strategic decision. Data-driven decisions can help you increase sales.
Not only can data received from traffic counting solutions help increase your retail sales, but you can also optimise your marketing spend to increase further promotion.
Retail traffic analytics provide retail marketing teams with the correct insights and visibility into how their marketing activity has influenced in-store footfall.
Tying campaign periods to footfall enable marketers to align draw rate and conversion metrics to promotional periods. This information gives you the ability to eliminate less successful in-store campaigns where ‘pass-by traffic’ is too high. As a retailer with a better understanding of how different types of campaigns influence instore footfall and discover geographic nuancing of in-store shoppers.
Further to the importance of data and analytics, retailers will be in a much better position to make strategic decisions in-store and this information gives store managers the data to optimise their labour resourcing and better prepare for peak periods and high trading such as the summertime and Christmas.
We all know how tough it is in retail and this is why it’s vital to maximise as many conversions as possible however in order for you to do this, you need the staff. to do so is important, this data can help you get (shopper to associate ratio) right.
If you would like to learn more about the effectiveness of traffic counting solutions in your retail stores, then get in touch with us today.
Phone: +44 (0) 1235 539101