Although foot traffic counting is not a new concept in retail, many store and mall owners have yet to take advantage of the technology to optimise their processes and performances. Over time, analysing the data collected by a foot traffic counter will help store and mall management with better planning, as well as money saving. Foot traffic counting can assist store owners with planning maintenance activities like renovations, deep cleans, etc. when traffic is low, so as not to inconvenience too many customers.
Foot Traffic Counting
There are many benefits of foot traffic counting that many retailers are unaware of.
Customer Behaviour Analysis Tool
With foot traffic analytics, you can measure how many customers walk into your store on which days of the week, and at which times, and analyse when your peak periods are. You may even use it to measure market ROI to see whether a certain promotion brought more people to your store once you advertised it. Management can use this information to allocate staff shifts on busier days, adjust operating hours, and strategic product placement for stock that is standing still so that it’s seen during peak hours.
Inventory Management
Foot traffic counter data allows staff and management to monitor when customers enter your store and which areas they are more likely to gravitate towards. This will allow staff to keep an eye on stock levels in specific areas that are prone to run out the quickest. This will increase sales, as customers won’t have to wait around or ask a staff member for assistance.
Improve Retail Security
By monitoring peak times and popular areas of the store, security will be able to prevent theft by knowing where to keep an eye out. It can mean that management can hire additional security and optimise safety to avoid profit losses and shrinkage due to theft.
Insights into Expansion Planning
By assessing the success and popularity of one store by analysing foot traffic, management and owners can make a call on whether expanding into a franchise offering is a good idea or not. They can also look at the foot traffic counter data from the locations that they are considering in order to see whether it is popular or not.
How To Measure Foot Traffic
Milestone Integrated Systems offers retail foot-counting solutions that do all the above and so much more. TrueCounts 3D People Counting enables high-accuracy foot traffic counting with additional metrics such as customer dwell time, return customers vs. new customers, cross-shopping, average basket size, conversion rate etc. Contact our experts for more information and to place your order today.
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