With several players in the retail industry entering the e-commerce arena, customers are increasingly relying upon the internet for shopping needs. While the number of online shoppers has increased significantly over the years, customers flocking websites before visiting the physical stores, is also becoming common. As such, more than half of the purchases at physical stores are digitally influenced, shoppers research online before going to a store or while in the shop. Having invented the business of shopper analytics to help retailers increase footfalls, conversion rates and transaction size, ShopperTrak continues to stay ahead of its competitors in the arena. ShopperTrak adopts a simple, yet effective approach of Synthesize, Simplify, Analyze and Recommend strategy towards deploying retail analytics. A dedicated engagement manager is deployed to understand customer demands and recommend the most appropriate solution to the customer after a comprehensive analysis.
ShopperTrak’s approach to retail analytics involves installing traffic counting devices at entrances or pressure-sensitive floor mats to count the number of visitors entering a particular space in the store. The traffic counting devices relay data in real-time which is integrated with the market intelligence and contextual data sets on the flexible business intelligence tool owned by the company. Sharpened insights are delivered by the tool after analyzing the integrated version of the data. The insights thus obtained, help the retailers in devising new business strategies and improve sales by enhancing the experience for modern day shoppers, apart from market effectiveness.
In order to enhance market effectiveness, ShopperTrak also helps customers by setting up and managing marketing campaigns through email. Constructed using the data collected from footfalls, that enables the retailer to build individual campaigns for each customer based on their preferences. The campaigns provide insights into customer loyalty by revealing details about the number of customers visiting the store repeatedly. They also allow retailers to figure out the performance of each campaign, which eventually helps in making the necessary changes to campaigns.
Half of the purchases at physical stores are digitally
influenced, shoppers research online before going
to a store or while in the shop
The proficiency in implementing retail analytics solutions, has won ShopperTrak, several accolades from customers. One such instance was Godiva Chocolates, wherein ShopperTrak was roped-in to monitor the number of visitors at their Regent Street store. By deploying its people counting technology, ShopperTrak not only helped the client in monitoring the number of visitors with ease but was also able to deliver numerous insights on revamping the operations, obtained using their business intelligence tool. Godiva is not only pleased, with the offerings of ShopperTrak, but has also been promoting the adoption of people counting technology across all its franchisees all over. The technology was rolled out to all Godiva stores in Europe and the results in a span of three months, exceeded expectations as transactions saw an increase of 10 percent.
Going ahead, ShopperTrak seeks to keep up its policy of innovating constantly to improve upon its own solutions, capabilities, technology and expertise, so as to serve the customers, better by enhancing the effectiveness of their business and profitability. The company also intends to reach clients on a global basis and create new benchmarks in the retail landscape. With several promising initiatives on its plate, ShopperTrak is well on its way to emerge as one of the global leader in the field of retail analytics.
