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Specialty Retail Location Performance Analytics

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Information about Specialty Retail Location Performance Analytics
Technology

Published on March 10, 2014

Author: KelliePeterson

Source: slideshare.net

Description

Specialty retailers are now racing to operate with an acute understanding of in-store
traffic; the interaction between customers and their merchandise or facilities. With precise traffic
data, retailers become experts on customer traffic behavior and changes, and use that data to make fast, highly-informed and profitable business decisions.
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iInside delivers the most precise traffic data that can be leveraged to help deliver a superior consumer shopping experience and improve long-term sales performance. With iInside technology, retailers can reliably deliver a suite of powerful traffic metrics at the department, end-cap, and even brand level. These metrics can help make faster, better informed decisions that lead to fast growth drivers and increased customer satisfaction. At iInside, we help you make the business decisions that drive your company’s performance across every segment of your business. Departmental Performance iInside delivers powerful, unique traffic performance metrics that are precise down to individual Specialty departments, brands and displays. • Combine traffic with POS data to model departmental conver- sion within each single store for manager reporting, or in a sin- gle department across the entire chain for category managers. • Combine Conversion with staffing data for optimal staff-to-cus- tomer ratios. • Determine the relationship between wait times at counters and conversion; avoiding “U-Turn” and loss scenarios while increasing customer satisfaction. Merchandising Effectiveness From display window signage to end caps, center-store to other departments, iInside measures how in-store merchandising affects shopper behavior. • See the precise relationship between store design and traffic changes • Benchmark pre and post-effect traffic to measure merchandising impact • Impact of contiguous product merchandising • Performance projections for future merchandising strategies; segmented by store, region and like-store groupings • Shopper dwell times and draw can be measured independently and combined with conversion Marketing Campaign Impact iInside uniquely provides powerful analytics to help measure the direct and indirect effect of marketing on traffic; a new, powerful KPI (key performance indicator) for all types of marketing strategies. • Benchmarking for marketing campaign impact on traffic by department, using all traffic metrics including “First Visit” changes as a measure of shopper intent • Impact of individual campaigns on overall store traffic Workforce Management Efficiencies Indoor location analytics enable you to make informed decisions about how, when and where to provide the right store personnel. • Measure traffic by hour • Deliver precise, optimum ratios of departmental sales personnel to shoppers Specialty and Big Box retailers are now racing to operate with an acute understanding of in-store traffic; the interaction between customers and their merchandise or facilities. With precise traffic data, retailers become experts on customer traffic behavior and changes, and use that data to make fast, highly-informed and profitable business decisions. Specialty Retail Traffic Analytics: Helping Specialty Retailers Make Business Decisions that Improve Key Performance Metrics

Call 877.500.9379 (714.685.9776 to request a demo) | info@iinside.com | www.iinside.com Queue Management Optimization iInside queue analytics ensure that register wait times; a major customer service metric that can finally be measured, managed and improved at a uniquely affordable price. • Detailed, reliable queue wait time reports by hour, day and week, etc. • Forecasting for checkout lane staffing requirements • Predictive analytics when combined with in-store traffic analytics • Our solutions see traffic at each individual register and can even identify lane-hop behavior. Showrooming Intelligence While showrooming remains a real challenge, iInside empowers retailers with unique analytics that can help turn non-converting shoppers into successful sales. • Understand which departments and brands are being showroomed and in rank order • Know the departments and specific times where showrooming most often occurs • Measure and adjust the impact of showrooming conversion strategies Loyalty Campaign Success iInside helps Specialty retailers better manage and extract additional value from loyalty campaign strategies. • Identify loyalty program shoppers upon entry when combined with an opt-in mobile application • Measure shopper return rates and cross-store location behaviors • Target individual shoppers for post-visit promotions • Deliver the right offers to loyal customers at the right time Best-in-Class Technology iInside gives Specialty retailers the ability to measure in-store behavior using their existing wireless infrastructure from leading enterprise Wi-Fi providers. Starting with these assets, iInside supplements with software and hardware as needed to deliver extremely precise Indoor shopper traffic technologies that offer practical, high-value advantages: Accuracy: iInside solutions are accurate to within one meter in store environments. That means we can accurately deliver data specific to the department, brand, checkout register and even end-cap. Less-accurate solutions cannot reliably segment data by department. Cost Effectiveness: iInside invested years into solution technologies that are manufactured, implemented and managed with the lowest possible cost. Our fees are monthly, often with minimal upfront charges. And iInside offers significant savings over costly consulting projects that provide less accurate analyses of less in-store shopper behavior. Extensibility: iInside’s infrastructure is uniquely based on a flexible, hardware-independent platform designed to meet the client’s indoor location analytics needs for the foreseeable future and easily accommodate future requirements including new sensor needs and integration with mobile apps, etc. Ease of Ownership: A system might be incredibly accurate, but impractical if cumbersome and costly to manage. iInside has invested heavily in technologies that make its solutions simple to deploy, maintain, upgrade, enhance and move. Coverage: Shopper behavioral consultants base their recommendations on a fraction of 1% of shopper data. By comparison, an anonymous iInside solution can track as many as half the shoppers in a store – a massive sample size for Business Intelligence. Additionally, when using our active location technolo- gies along with mobile loyalty apps, iInside can see every shopper using an integrated application. Privacy: Each time iInside “detects” a device the system receives a unique identifier (MAC address) and uses a sophisticated encryption algorithm to convert that identifier into a new, irreversible one. Each device is identified only by that number, which contains no personally identifiable information. As an extra step in privacy protection, iInside never stores the original MAC address.  Take the Next Step to Improved Performance Contact iInside today and learn how the industry’s most advanced, most accurate location analytics can put your company on a path to greater customer loyalty, increased sales and long-term growth. decisions about how, when and where to provide the right store personnel. • Measure departmental traffic by hour • Compare shopper performance with staff ratios to determine optimal staffing practices • Deliver precise, optimum scheduling of sales personnel to shoppers iInside, a WirelessWERX company. Contact info@iinside.com or call 877-500-9379 or 714-685-9776 to request a demo.

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