CASE STUDY
Maximizing Brick-and-Mortar Retail Success with People Counting Technology
Accurate People Counting Data Transcends Mere Numbers;
People counting solution translates into several key benefits
People counting systems have revolutionized the way businesses operate, providing accurate and reliable data that helps brick-and-mortar retailers make informed decisions.
The systems use advanced sensors to track the number of people entering and exiting a physical space.
These sensors are connected to software that collects and analyzes data in real time, providing insights into customer behavior and enabling informed decisions about store operations and marketing strategies.
The systems use advanced sensors to track the number of people entering and exiting a physical space.
These sensors are connected to software that collects and analyzes data in real time, providing insights into customer behavior and enabling informed decisions about store operations and marketing strategies.
Enhanced revenue opportunities
Optimize tenant mix and placement, creating a shopping environment that maximizes tenant performance and your rental income.
Customize marketing strategies and event planning
Ensure high engagement rates and maximize the impact of promotions to drive customer traffic and revenue.
Maximize the efficiency of facility
More effective use of resources includes staffing, security, and maintenance, ensuring that operating expenses are optimized for peak and off-peak periods.Data-Driven Insights for Facility Planning
Build investor confidence
Solid, reliable data supports negotiations and discussions with investors and stakeholders.
By demonstrating the performance of a property through accurate people counting data, it can help secure better investment terms and future development projects.
By demonstrating the performance of a property through accurate people counting data, it can help secure better investment terms and future development projects.
Future-proofing investments
In a rapidly changing surrounding environment, accurate data keeps your business agile.
Adapt to trends, tenant demands, and consumer behavior with confidence and secure your position as a forward-thinking leader in real estate development.
Examples of People Counting Data Utilization
Is the problem Internal or External?
When sales start to drop, it's not always clear whether the problem is due to something happening inside the store that's driving customers away, or whether it's the result of external factors affecting your business.
Let us use a sample chart to illustrate how foot traffic/customer count data can be used to gain insights that can help improve sales.
Let us use a sample chart to illustrate how foot traffic/customer count data can be used to gain insights that can help improve sales.
Influence of Internal Factors
The example chart shows a small fluctuation in customer traffic, but sales are gradually decreasing.
This is a case of internal factors affecting sales.
The attractiveness of tenants, merchandises, displays, customer service, etc. has decreased.
In this case, we can plan to take action;
✅Improve merchandising, product selection
✅Change store layout, refine visual merchandising
✅Improve customer service, provide customer service training to employees.
We have another blog post explaining about retail conversion rates, which indicates the percentage of visitors to your store who make a purchase.
To help you understand how to solve the problem with internal factors, the article explains how to convert visitors into buyers in details.
Influence of External Factors
The next sample chart shows that customer traffic is decreasing and sales are fluctuating slightly.
In this case, we can assume that there is some external factor affecting your store.
Generally, the first sign of declining sales is a decrease in the Customer Traffic.
In this case, we can plan to take action;
✅Consider advertising/promotional event etc.,
Increase your store's exposure and engage customers with event announcements and promotions.
✅Changes in the local economy:
Changes in the local economy, such as a downturn in the job market or a decrease in consumer spending, can have a big impact on customer traffic.
To adjust their product mix and pricing strategy, retailers may want to focus on promoting lower-priced items or offering more frequent sales.
✅Competition from nearby stores:
The presence of nearby stores offering similar products or services can also affect customer traffic.
If a competing store offers lower prices, better selection or a more convenient location, customers may choose to shop there instead.
It's important to stay competitive by offering unique products, better prices, or a more convenient shopping experience.
If the location of the store is not an issue, consider marketing efforts based on loyal customers, and if you conclude that the location of the store is a problem, measures to retain loyal customers should also be considered if the store is relocated.
In this case, we can assume that there is some external factor affecting your store.
Generally, the first sign of declining sales is a decrease in the Customer Traffic.
In this case, we can plan to take action;
✅Consider advertising/promotional event etc.,
Increase your store's exposure and engage customers with event announcements and promotions.
✅Changes in the local economy:
Changes in the local economy, such as a downturn in the job market or a decrease in consumer spending, can have a big impact on customer traffic.
To adjust their product mix and pricing strategy, retailers may want to focus on promoting lower-priced items or offering more frequent sales.
✅Competition from nearby stores:
The presence of nearby stores offering similar products or services can also affect customer traffic.
If a competing store offers lower prices, better selection or a more convenient location, customers may choose to shop there instead.
It's important to stay competitive by offering unique products, better prices, or a more convenient shopping experience.
If the location of the store is not an issue, consider marketing efforts based on loyal customers, and if you conclude that the location of the store is a problem, measures to retain loyal customers should also be considered if the store is relocated.
The Bottom Line
Implementing a people counting system in brick-and-mortar retail is essential today.
People counting system offers significant benefits in terms of maximizing retail revenues and customer insights.
Gaining insights, including data on customers who didn't purchase, can help brick-and-mortar retailers maintain strong customer engagement and preserve customer lifetime value over time.
People counting system offers significant benefits in terms of maximizing retail revenues and customer insights.
Gaining insights, including data on customers who didn't purchase, can help brick-and-mortar retailers maintain strong customer engagement and preserve customer lifetime value over time.
Contact us today to learn how our advanced people counting solutions can transform your business.
