Transforming Physical Retail with E-Commerce Style Analytics – Find out how analytics for physical location allow brick-and-mortar retailers to close the gap between online and offline customer analytics!
Consumers are more informed, more connected, and more demanding than ever before. Retailers are putting customers in the center of the equation and leveraging technology to get them what they want, when they want it, at the price they are willing to pay – and attempting to do it all across every selling channel.
Today, consumers have an almost endless combination of choices to purchase products. Through the use of the web and mobile selling channels, shoppers are able to control their personal shopping experiences. They are finding it more convenient than ever to browse, shop, and purchase items in the comfort of their own homes.
Physical store still alive!
This evolution does not mean that physical retail will cease to exist (brick-and-mortar stores should still account for 85% of US retail sales in 2025, according to Forrester Research). Rather, it means retailers have to find better ways to connect to their customers across all channels. Technology cannot (today) replace the physicality or immediate gratification of the in-store shopping experience. However, there is no question that the online, mobile, and physical retail worlds are converging.
And until just a few years ago, the only parallel data that physical and online retail operations had in aggregate, across all stores, was traffic and conversion. This is changing. Physical retailers can now understand the same metrics that their online counterparts use to drive their businesses. Gartner estimates that as BI and analytics rise as priorities for retailers, the market is forecast to reach $17.1 billion by 2016.
Data, data, data….
In-store analytics delivered in a precise, real-time format allow brick-and-mortar retailers to close the gap between online customer analytics and physical retail by providing metrics like:
- How shoppers behave in brick-and-mortar stores
- Identification of the drivers behind purchases (and non-purchases)
- How changes in the store can impact customer experience and sales
For physical retailers to maintain a competitive advantage, they will need to keep up with ever-changing customer needs by continuing to measure and improve shopper convenience and personalized services. Retailers who adopt comprehensive analytics solutions will be able to provide a best-in-class store experience – both on- and off-line.
Increase your Offline Conversion Rates
Control all your physical spaces, devices and business growth on a single platform. Analyze all operations and departments with sophisticated yet easy-to-use reports. Make fast decisions that translate into immediate business results
Real-time Actionable Data! 98% Accuracy
Measure the number of people passing by and customers entering your store, optimize staff allocation as well as marketing strategies and watch your profits skyrocket.
Increase customer engagement levels, optimize their path to purchase and raise your profits substantially with V-Count Heatmap. With its unique algorithm and fish eyes lens, Heatmap solution allows you to follow the customers’ journey inside your store and discover what are the areas that they are more attracted to.