Acting on footfall trends can maintain profitability even in harsh trading conditions. The key is to analyse the fine details rather than just looking at the big picture.
Zooming into various indicators lets retailers identify badly performing areas and act to improve matters. For example by:
– Comparing footfall and sales conversion at different hours of the day
– Comparing footfall and sales conversion at different properties
– Monitoring how many people pass by
– Mapping “hotspot” areas to discover which places are most popular and where the dead zones are.
When the live footfall numbers are integrated with current purchases at the till, the data becomes even more powerful. Sales conversion figures taken throughout the day and on different days of the week show the way to progress and increase profits.
Outdoor footfall counters provide more detail to assess and improve performance. Are you taking advantage of the busiest periods in your location, or is there potential for improvement? Understanding the pedestrian flow outside a property helps benchmark the performance of each shop, restaurant, cafe and bar.
Footfall data shows whether premises are under- or out-performing and measure the success of marketing initiatives, staffing levels and layouts.
Let the data drive decision making and see the rewards in the sales figures. For more on the technology needed, or for a roadmap of how to improve your sales figures, contact Retail Sensing.