Smart retail analytics deliver business success

Improve retail performance with footfall analytics

How to use retail analytics to maximise the business value of every person entering the store.

Why Smart Retail Analytics?

Many retailers collect data on what is happening in their stores but are not using that data to maximise the volume of sales.

Someone who leaves a store without buying anything is a loss of the tremendous budgets which were invested in marketing activities, store design, rent and salaries.

An entry which did not end with a transaction is a lost customer.

What can be done to increase the business potential of each person entering? How to make efficient use of the huge amount of data and vast know-how?

Smart Retail Sensing: the Aims

Raising conversion ratio
Raising the average transaction value
Raising the average number of items per transaction
Continuing the improvement over time

How to Achieve these Retail Excellence Aims

Combine technology and expertise in retail management with the five stages model.

The 5 stages to achieve retail excellence

Data Collection
Analysis
Planning retail adjustments
Implementation
Back to Data Collection to monitor, measure and make more improvements to the key performance indicators

On which Retail Components does the Model Focus?

Store orientation and product range
Service
The Sales Process

Time Table

Data
collection

1-2 weeks

Observations, processing and analysis

2-4 weeks

Adjusting a customised toolbox

2-4 weeks

Implementation and achieving KPIs

4-6 weeks

Monitoring and maintaining the new standard

periodical

Impact of Smart Retail Analytics

Long Term

Constant improvement in the main parameters
Preparations according to predetermined patterns
Marking “bleeding profits” shops due to poor preparation

Short Term

A significant increase in the three main parameters: Conversion Ratio, Average Transaction Value and Number of Items per Transaction
Setting new achievable standards
Dramatic amplification in staff awareness and service parameters

Find out more

Get in touch to see if we can help you acquire retail intelligence. You can also download the Smart Retail Analytics infographic.

Retail Sensing

Retail Sensing manufacture the Video Turnstile people counting, vehicle sensing and smart city equipment. Our systems not only measure footfall and traffic, but monitor queues, display occupancy, track shoppers around stores, show heat maps of most visited areas, record passenger numbers, count pedestrians and provide retail intelligence and key performance indicators.