Retailers have a lot on their plates to look after. Their obvious objective is to meet customer demands always and provide the best in-store experience throughout the customer journey. For this to happen, brands and retailers need to have live, real-time behavioral insights of their shoppers while they are in-store. Based on the insights, they can devise effective strategies to ensure that the customers are provided with a highly personalized customer experience. Apart from the customers, retailers also need to properly address several other in-house factors like staff-management, and merchandising to name a few. How does the retailer effectively deal with all these things on the plate? In-store analytics is the resounding answer.
In-Store Analytics allow retailers to understand customer behavior
In-store analytics give retailers a clear indication of where customers dwell inside the store, for how long, etc. Based on this insight, customized and curated offerings can be pushed to each customer. Cameras installed within and around the store also help in decoding customer emotion, mood, and intent. For instance, cameras can record the facial expression of customers which help retailers understand whether they are angry, happy, jovial, frustrated, etc. Similarly, the pace at which a customer walks in and around the store provide insight on whether he is in a hurry, or has just come for casual dwelling. Retailers can then take necessary actions to ensure that the proper path to score a conversion is adopted.
The advent of the internet of things in retail technologies like smart shelves and proximity sensors certainly put the retailers at an immediate advantage. Proximity sensors can send personalized messages to the mobile phones of the customers based on the customers’ location. Smart shelves always notify the store manager about the availability of stocks on shelves. This gives the manager a chance to re-stock the items that have run out. This will ensure that the customers always find what they need when they walk into the store.
Staff Management – Allowing the proper use of resources
It’s not just about having an effective workforce. What’s important is for this workforce to be used optimally. Many retailers struggle to allocate proper resources at the proper place, simply because they have no data to back their decision. They act on their hunch and seldom it’s wrong. In-store analytics ensure that retailers allocate their staff resources based on facts, and not intuitions. The data generated indicates the hot spots in the store daily. It also brings forth the area that remains largely unpenetrated on a consistent basis. Based on these insights, the staff roster can be allocated for the respective floor areas. It also helps retailers ascertain what the exact shift timings of various staff should be, thus eliminating any chances of a mismatch.
Assessing the impact of Visual Merchandising
A large part of the marketers’ effort deals with capturing the attention of the customers. Visual merchandising is one of the key factors that help attain the same. With in-store analytics, retailers can assess the success or failure of their various visual merchandising endeavors. Real time data show how many people stop by a POS stand and are attracted to it. Similarly, an account of the people who are unattracted towards the stand and walk past it are also made. Based on these insights, retailers can take a call on whether to relocate the position of the various point of sale stands, discard them altogether, or let them be where they are. Overall, the impact that visual merchandising has on the people in-store can be assessed accurately.