Measure the “Market Response” using Footfall Data
BUSINESS REQUIREMENTS
Maximising Sales Conversion is Crucial
- Conversion Rate Tracking: Monitor and understand market response at a granular level, gaining insights into conversion rates across different product segments and times.
- Sales Opportunity Optimisation: Ensure the ability to remain competitive and effectively serve market demand by analysing customer preferences, touchpoints, engagement rates, and shopping behaviours.
- Comprehensive Customer Journey Analysis: Go beyond simple sales tracking to gain in-depth insights into each stage of the customer journey. This includes evaluating the potential of your catchment area, assessing outside traffic desirability, and analysing conversion rates at specific times and for particular products, leveraging sales data to identify opportunities for improvement.
Typical system designs for retail chains that are customer service-focus.
TECHNICAL REQUIREMENTS
Measure the Key Contributing Metrics
Footfall: 3D Pro2 stereo camera counts the number of adults,
- Children can be excluded – not counting children below 1.3m.
- Staff is excluded – using the staff exclusion button.
- Identify busy hours and track how long they stay.
Group Counting: Track purchasing groups, like families, to better understand sales conversion and shopping behaviour.
Demographics: Measure the age, gender, mood of shoppers, and track those who made the purchase.
Location Analysis: Quantify the population demographics nearby, analyse competitors, and identify gaps and missed opportunities.
Marketing Effectiveness: Measure the impact of promotional events, quantifying footfall and sales uplift.
Sales Conversion Rate: Profile sales opportunities for each store, benchmark, and rank stores based on their sales conversion rates.
Missed Opportunities: Quantify the pre-purchase shopper activities; and use the AI models to quantify the gaps, missed opportunities and areas of improvements.
METRICS
Measuring how many shoppers are visiting your store and who are they
SOFTWARE FUNCTIONS
Utilising FootfallCam V9 Cloud to understand the footfall patterns of individual stores, compare store and staff performance, benchmark against the best-performing store, and identify areas for improvement.
Store Performance Dashboard
Individual store overview. Benchmark against the best-performing store. Detailed profiles of visit duration, shopper demographics, percentage of frequent visitors, sales conversions, footfall profiles, etc.
Footfall Performance Reports
Individual store and company-wide overview. Benchmark against the best-performing store. Detailed profiles of visit duration, shopper demographics, percentage of frequent visitors, sales conversions, footfall profiles, etc.
Customer Profiling Analysis
Learn more about the customers visiting your stores, benchmarking them against your target customer, and identifying any untapped or missed sales opportunities using the captured attributes such as age group and gender.
Marketing Effectiveness and ROI Review
“Compare footfall and sales uplift relative to marketing events using AI modelling, considering data points such as sales, visit duration, footfall, and more, to provide recommendations for sales improvement.
Sales Ticker
Live sales progress tracker serves as a motivational tool to boost team morale and inspire store staff to work harder to achieve headquarters’ sales targets.
FootfallCam V9 Apps
FootfallCam offers AI-powered apps that learn from datasets and provide recommendations for retailers to enhance operations and workflows.
- Location Analysis
- Catchment Area Analytics
- Shopping Area Busyness
- Event Effectiveness Analysis
- Sales Tracker
- Staff Roster Planning
Retailers that are using this solution:
Other Related Links:
Pharmacy Chains – In-Store Shopping Journey Analytics ➜ Using Using ProWave to track the shoppers’ movement and product engagements
Electronic Stores – Demographics Analysis ➜ Using FaceCam to measure the age, gender and mood of the shoppers
Luxury Retail Stores – Optimal Staff-to-Footfall Ratio ➜ Using 3D Pro2 to measure footfall and AI to provide recommendations
