You are thinking of installing a people-counting system, but how to work out when the expected benefits will justify the cost? To help you we have prepared a Return on Investment calculator complete with typical improvement figures. You just need to fill in your existing conversion rates, transaction values and store traffic and our spreadsheet will calculate in how many weeks a Retail Sensing footfall system will pay for itself.
Of course, it doesn’t happen without you making some changes. But the Retails Sensing five stages model provides a way for you to make continual improvement.
- Data Collection
- Planning retail adjustments – adjusting a customised tool box
- Back to Data Collection to monitor, measure and make more improvements to the key performance indicators
For example, you could take actions to improve the average shopping or dwell time. Measuring and improving average shopping time results in an increase in the number of people buying something, the number of items they buy and the amount of money that they spend. Alternatively you could concentrate on reducing queues or increasing conversion rate.
The calculation figures used in the RoI Calculator are an average of those we have a achieved with our retail clients. It is in the format of an Excel spreadsheet.