Weekend Deals: Increasing Effectivity & Maximizing Returns

Customers love shopping on the weekends. This has been a foregone conclusion now for the longest time. Although various researches and surveys have validated this fact time and again, it is easily fathomable for the common mind. Shoppers simply have more time on weekends and are subject to lower stress levels. Here lies the chance for retailers to cash in. Weekend deals are a common phenomenon all across the Globe. But, it’s no point having deals if they don’t yield too much of a profit. Following are the things every retailer should follow to ensure that weekend deals provide the maximum returns.

weekend-deals-retail

Know the kind of ‘Deal’ to be offered

Retailers should consider various things before finalizing on the perfect deal. Referring to customer feedback can be very helpful in understanding what kind of offers they are looking for. This can be done through various kinds of polls on social media and other platforms as well. One of the primary things to consider is the overall business objective. For instance, if emphasis is on acquiring new customers, then providing whopping deals like (Flat 50% off) should be provided. On the other hand, if the need of the hour is to clear stock or inventory, then the (Buy 1-Get 1), etc kind of deals comes into play. Also, brands and retailers should also know the costs attached inside out. The deal that is eventually finalized should make sense financially to the brand. Hence, knowing the kind of deal for the retailer or the brand is very important before finalizing it for promotion.

‘Time’ the Deals to Perfection

Properly developing the content calendar is important in order to yield the maximum out of the discounts and deals. Content may include blog posts, social media updates, etc. Social Media is by far the most feasible choice for retailers to start a campaign on these days. However, it is very important to time the promotional messages to perfection. Content developed is different keeping in mind the distribution platform. Facebook, Twitter and Pinterest are the primary platforms of significance for the retailers. It is important for retailers to study the most pertinent time for promoting their deals on each of these platforms in order to attain the maximum effectiveness from them.

Proper Targeting of Audience is the Key

Retailers and Brands have to keep in mind that proper targeting is essential in order to drive sales over the weekends. Getting carried away and offering the same deal every day can hamper the chances of maximum returns. It has to be understood that people of different age groups shop at different times. This fact is validated by data generated from the 2016 CouponBox Analysis which states the following:

  • Shoppers belonging to the age group of 18 – 24 mostly shop on Sunday

  • Shoppers belonging to the age group of 25 -34 & over 55 mostly shop on Friday

  • Shoppers belonging to the age group of 35 – 64 mostly shop on Saturday

Deals should be formulated and promoted keeping the above data in perspective. Pertinent deals should be offered to different age groups on the respective days. This will ensure maximization of sales and also help in achieving the maximum returns from every deal in terms of the overall revenue collected. Thus, proper targeting of audience is the key.

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The ‘2016’ Black Friday & Holiday Shopping Season

Black Friday is often a landmark for shoppers every year as it signifies the commencement of the holiday shopping season. Customers look forward to this time of the year and so does the retailer. Whether it’s customized and personalized offers or indelible in-store experiences, retailers try and get it right around this time of the year in order to achieve higher margins of profits and conversions. Black Friday 2016 is around the corner and the shopping frenzy is more than just setting in.

black-friday-shopping

The Big Weekend

The extended weekend that includes Thanksgiving and Cyber Monday has always given retailers something or the other to cheer about over the last few years. There was a huge doubt on how people would react considering the results of the US Presidential Elections, but everything seems to be easing out now. Findings from the National Retail Federation Survey states that as many as 137.4 million Americans are estimated to hit the stores for shopping over the weekend. The turnout expected is more than last year (135.8 million). This will provide the retailers with a good head start for the rest of the holiday season to follow. Overall, a slightly better forecast of holiday sales has been provided for 2016 by NRF. The holiday season sales are expected to rise by 3.6% this year. While the forecast is not alarmingly high from what has transpired over the last few years, but it is certainly expected to be one of the better seasons of recent times. The NRF Survey also found out that as many as 74% of people are planning to go shopping at the store on Black Friday itself. Thus, a big weekend is definitely on the cards.

A Statistical insight on Black Friday & Holiday 2016

Retailers understand the importance of having an omni-channel presence. As a result, the focus will not only be to provide customers with relevant, customized and personalized offers, but provide them across all channels. According to the estimation provided by NRF, the overall spending during the holiday period is expected to be US $655.8 billion in 2016. With 74% people expected to go shopping to the retail stores on Black Friday itself, retailers can expect a blockbuster season ahead. Let us have a look at where the consumers plan to shop from during the holidays.

black-friday-data

The illustration above clearly provides ample evidence of the need for retailers to have an omni-channel presence. 55.7% and 56.6% of customers will prefer shopping from discount stores and departmental stores respectively. On the other hand, 56.5% of people will avail the online medium. Grocery Stores and supermarkets account for 44.5% as well.

Another study by Prosper Insights reveals that American consumers plan to spend a mighty US $935.58 during this holiday shopping season. Retailers will be looking to utilize the bulk amount of big data that they have access to in the best possible way. Apart from this, according to data on Sessioncam.com, 41.9% shoppers will prefer to pay by debit cards and 24% by cash. Faster payment systems are something that retailers will try and adopt as no one would want to spend their day waiting in long queues. Faster payment checkout options on the mobile app or at the store kiosk will be vital.

Overall, retailers are hoping for a productive Black Friday to kick start their long holiday shopping extravaganza.

POS & Digital Signage: The Future of Retail

For quite some time till now and for a long time to come, an enhanced ‘customer shopping experience‘ is what will be the main force driving conversions for retailers. In this highly influential online world, there is still enough room for offline retailers to make customers stand up and take notice. According to a survey by POP Advertising Institute, 67% of purchase decisions are made in-store. It’s an interactive world today and therefore the crux lies in making the information about various products and services available to customers in the most appealing way but at the same time being contextual is the key. Retail Displays are an important facet that helps retailers provide interactive content for today’s interactive customers and will continue to do so in the time to come.

 

Digital Signage

A major aspect that is taking customer interactivity to a whole new level is Digital Signage. Digital projection via LCD and LED screens in order to display images, stream video and convey information is an effective way of engaging customers and enhancing their shopping experience. The in-store branding has to be consistently captivating for keeping the customers engaged for a long time. Resorting to Digital Signage is surely the way ahead. The following figures provide a clear indication as to why digital signage will be most effective for both retailers and their customers in the near future.

    • According to a study by Markets and Markets, the digital signage market is expected to rise from $16.88 billion in 2015 to $27.34 in the year 2022 at a CAGR of 6.7%.
    • The rising demand for signage will be the most in North America. The following graph depicts the demand for digital signage across different industry verticals till the year 2024. The Retail vertical definitely dominates.

digital-signage-by-2024

    • A recent study by Adaptive IP Services (Digital Signage Solution Provider) revealed the following.

digital-signage-by2024

  • According to IDC forecasts, the use of digital signage in retail will grow from $6 billion in 2013 to $27.5 billion in 2018 at a CAGR of 35.7% in these five years.

Point of Sale Displays

With a healthy rate of people freezing in on their decision to buy within the store, it doesn’t require a wise man to understand the impact that Point of Sale (POS) displays can have on customers. Effective promotion and marketing of the customer’s needs is important for the timely stimulation of demand leading to successful conversions. Sometimes, just the mere presence of a product in the store is not enough to drive its’ sale. It should be appealing enough to evoke the ‘desire to acquire’ within the customer. This is where POS displays come in handy. The following data provides a telling insight as to why retailers should secure their future by resorting to POS displays.

point-of-purchase-in-store

  • According to a study by Transparency Market Research, the global point of sale terminal market in 2013 stood at US $36.86 billion. It is expected to grow at a CAGR of 11.6% between the years 2014-2020.
  • The integration of digital POS physical stores can be brought about by allowing mobile POS proximity payments as it can alter the in-store shopping experience of customers in a huge way by allowing them to make payments from their mobiles or tablets and at the same time it will serve as a channel of purchase.
  • The above graph states that by 2018 in the U.S, mobile POS proximity payments are expected to reach US $5.4 billion. It also indicates that the total retail POS purchase is expected to rise from 0.01% ($3.98 trillion) in 2012 to 0.13% ($4.2 trillion) in 2018. (Javelin Strategy & Research)

Retail Trends: Shopper-Centric Store Escalates

Ever since the dawn of e-commerce some 25 years ago, evolution has been a hallmark of the retail store. The landscape of the latest technology is effectively moving very fast. Though people are counting the last days of physical retail (since years), retail outlets are enjoying their gilded age!

Shopper-Centric-Store

Retail Technology Companies are firing their growth by multiplying customers in-store experience and retail engagement. The growth promises new and existing retailers to evolve their business.

A systematic retail when emerge facilitate the consumers a hassle-free shopping. The launch of the new style, new fads, surprises consumers every day making them fickle and whimsical with their selection. Consumers hunt for new, innovative and connected retailing are on a steady rise.

A physical store is the only platform that connects Brands and Retailers with the Consumers. So, enriching this platform can drive sales, boost revenue and enhance loyalty. Retailers can achieve this easily with the boon of latest technology. Technology gifted us modern and streamlined stores outfitted with slick and smartly equipped technological interfaces, such as beacon devices, magic mirrors, digital signage etc.

Adopt Beacon: Use Technology To make Revenue From Smart Data. But How?

  • Behavioral Insights & Consumer-driven marketing data.
  • Product Placement, Assortment Optimization, product movement in-store & Shelf-space allocation.
  • Floor Stack arrangement, and revenue conversion.
  • Product Affinity, Brand Engagement , pre-POS and post-PoS.

Technology puts up Store of the Future

When we look for the store of the future, our line of thinking should start from the consumer and end at consumer only! So a future store should be identified as the shopper-centric store.

It emerges by leveraging real-time data to provide a baseline of your shopper. Traffic monitoring has evolved into Tickto providing dimensionality to your shopper traffic – gender variation, age group, store aisle stay-time, market-basket analysis, store engagement factors etc.

A comprehensive knowledge of this baseline provides the retailer with tools to drive conversion and transaction value by adjusting staffing, merchandising or marketing.

What factors drive the retailers for the store of the future?

The traditional tools to measure customer activity in-store are not real-time, not simple to scale and are expensive to deploy.

The mobile and social revolution is coming up new ways to connect with customers, but not resulting in any meaningful adoption.

Discounts and coupons are available at POS or after the purchase.

Camera based installations are expensive to deploy and manage

Access point of WiFi  is unable to provide specific customer behavior

Why choose Tickto?

  • Geo-Location locate the exact position of your shopper in your store.
  • Instant Incentives and Personalized Promotions are offered for the shoppers.
  • Personalized Experience is obtained which are used to build Consumer Loyalty.
  • Comprehensive Analytics are generated to use to identify store performance.
  • Quick Deployment encourages customer engagement.
  • Mobile Shopping and Seamless Payment simplify in-store purchase.
  • Cloud Offerings enable data security.
  • Smart Shelving and Stocking drive sales.

Beacon Technology based loyalty program not only helps increase customer engagement on their handheld device, but bridge the gap between a brand’s application and physical presence.

We conclude with the aim to create a valuable and engaging service on mobile apps and physical store creating a sound brand loyalty. Other options for the in-store growth are adopted by the business units that examine various approaches and pick the best option to connect with the target audience.

4 Technology for Effective In-store Proximity Marketing

Mobile Apps notifying users when something new and interesting is nearby are now enjoying a big influx of excitement. Why is the technology so, trending right now? This is not a new innovation. User Experience, bandwidth availability Timing, smartphone ubiquity and also the explosion of Android devices – more than 70% of people have smartphones that can really leverage the tech. Or is it the acceptable level that changed drastically?

The retail industry is going wireless by adapting new technology of proximity device, Smartphone, Bluetooth promotion – Bluetooth proximity sensor, Beacon and much more. The in-stores are thus taking the privileges of opportunities and earning high revenue on investment.

Shopping Apps: Shopping is an in-store feature. A large number of stores offer in-store apps that enable the buyer to use digital coupons, find out whether the store carries the particular product, and enable the store to manage their products in the store. It also comes with easy to swipe and share options for the shoppers.

Some of the retailers also offer reward points, which can cut down the expense while making payment. In addition to time and energy saving, the shopping apps maximize the retailer’s checkout range, thus enabling a customer to buy more products with fewer employees. With the delivering coupons of the customers, the retailers can get the consumer data and analyze that for any future use. mega-stores like Walmart launched several features that allow customer profile creation, browsing weekly in-store ads, the creation of shopping lists, in-store pick up, etc. Members of the app can also earn additional gift points that they can redeem later at the store outlets. This encourages shoppers in coming back again and again into the store.

Personalization and Affinity Marketing:

With so many buyers moving toward online purchases, in-store retailers must put an extra effort to put relevant products (that can be predicted by predictive analysis) in front of their users to escalate the store sales.

personalization-marketing-retail

Affinity marketing creates customers tailored to brands. Suppose you have a Company selling “Running Shoes” and your target is the sports fans for a good sale. But that is not something suggested by Marketing Strategies. You need to target avid marathon athletes instead to enjoy a good sale.

With tracking process and personalization, customers can track, analyze and understand the buying behavior of the customers studying their past purchase record. By curated system, a retailer can also recommend merchandise that was related or compatible with the ones already purchased by the customer to enhance sales and build customer satisfaction.

Predictive Analytics and Retail Insights:

Retailers are utilizing predictive analysis tools to understand retail insight and thus personalize the shopping experience of the users and thereby improve in-store sales. Customer data is pretty essential to influence the business decision of any in-store that includes staffing, inventory management, plan reward program and redesign their in-store.

In-Store Wi-Fi:

According to the latest report, more than 28% of participating in-store of all types and all sizes, experienced increased customer loyalty after launching in-store consumer Wi-Fi, which came along with more than 2% increase in overall sales. Nearly 21% of retailers also reinforced the fact that their shoppers spent more time in the brick-and-mortar, and so… Big Thanks to the In-Store Wi-Fi.

In-store Wi-Fi empowers both customers and in-store sales representatives to gain more information about stocks while in the store.

Online Retailing is growing by the day with the breadth of utility and customer appreciation. If brick-and-mortar wants to stay competitive, adoption of these tech newbies can be the key to sustaining a cutting edge in the era.

Context-Rich Systems: Future of Retail Technology

Personal technology is growing every day with the personalization of technology. But how will the user interact with their personal technology largely depends on their usage.

You can call this context-rich systems as a direct response to the growing need of the new technology. We are at the threshold of a new dawn where we are adapting new technology and with the complex system we are drawing information of the current situation and the surrounding people that can really revolutionize the world around us.

context-rich-systems

  • Personalized Context-Rich Systems

Context-rich systems work deeper in the personalization process by extracting detailed real-time information from the user about their current location and the device they are using to the weather along with their traveling speed. It can use the signal for content adjustment and content displaying and also by pulling in a number of different signals about the user and the context — from their present location and the device they are on, to the weather and the current speed they are traveling. It thus gives a great feedback to the user and allows the user to link together various services for a full website engagement

  • Ecosystems getting created by Context-rich Systems

Personal ecosystems started its formation with the increase of bringing more and more internet-connected device into the business platform, and users recognized the usefulness of personal ecosystems. But never made the mistake of applying outdated technology principal to the new technology.Smart Refrigerators (iOT based Internet Refrigerators) are nothing but the biggest joke of today’s technology. So, the users must think logical and apply technology for things that rather than interrupting ease of normal life.

  • Integration Of Context-Rich Systems

Data collaboration with the deep analysis is the core objective of the context-rich systems. It reflects the awareness of our surroundings and respond correspondingly to the users interaction. But dealing with such huge volume of data – coined as big data is the real big problem, as the base of such system is users information that is connected and computed from anywhere across the globe. Also, as the variables are multiple, the only trusted platform is Business Intelligence for the computation and the final analysis for any data of any retail outlet.

  • Future Perspective

The ultimate goal of the modern technology is data sharing, so it is clear that context-rich systems are going to rule the strategic technology market. And this will aim at user convenience.

The retail and almost every business in the real-time look for the thorough improvement of the retail operations that includes fast decision making and better customer support.

With the business sectors moving towards the context-rich systems, more data, device, and people are expected to be interconnected if and when needed. But what more is expected is getting the complete information about the environment and the interaction methodology with the surrounding.

So, if you are wondering for the next big step for your retail in store, I would advise you to head for the context-rich systems in your top 10 list, personalize it and use it for a better business output.

In-Store Analytics: Why Retailers Should Utilize It

Brick-and-Mortar stores are struggling with both rival in-stores and online platforms for a better market position. The introduction of Predictive Analytics has raised the level of competition and made the race more troublesome for any industry. And hence, a trivial blunder can cost the closure of any retail business.

The Retail stores must have a fair idea of its objectives before considering in-store analytics. Big data can be confusing, but a clear Business Intelligence strategy enables any organization to get through easily.

We will discuss Retail Analytics Solutions and objectives selection for retailers to explore further.

in-store analytics

Conversion Rate and Footfall Data:

Knowing the exact footfall information of any vital store is very crucial. Retail insight will allow the retailer to react and adapt according to the available data in real-time. The analytics thus enable the retailer to understand and predict in-store customer behavior and so can enhance the store performance and widen shopping environment. Retail insight underpins the store for better sales, staff optimization and increased productivity.

Customer Service:

The retailers need to identify the busiest sales hour in their stores to ensure enough staffing to meet the customer demand. This cuts cost, drive high conversion rate and improve the buying experience for the customers.

It is important for the store manager to keep accounts for the peak periods of Break time and after work hours service to boost the conversion rate. Moreover, the staff should undertake operational tasks during their free times.

It is needless to mention a hassle free and interactive shopping journey will bring back your customer over and over in your store.

Category and Space Productivity:

Retail Analytics will provide the retailers with the information of the shop zone, promotion message, seasonal effects, display units in the retail store enjoying the highest sales irrespective of the products. This also includes predictive analytics. Such strategy will easily pinpoint the optimal location inside the store allowing the retailer to push the high margin products over there to enjoy a high ROI.

For example, in a retail store, during the summer holidays, the retailer noticed a high sale in the organic juice. The retailer placed some outdoor games, summer clothes in the dwell time area, and put a promotional offer on summer product. And in few days, the sale rose by 30%. This is how Predictive Analytics work in retail outlets.

Customer Response:

The behavioral insight of retail technology solutions is immensely beneficial for the retailers. Learning the customer journey in the shop highlights product exposure, in-store engagement and navigation route throughout the retail. This can lead to an improved result for the retail owners that drives the shoppers deep into the retail for best exposure and long visits time.

The retail landscape in on a constant change. If the retailers can use the Big Data with Business Intelligence Strategy the store can easily know the customer demographics on the real-time and aim at increasing cash flow ROI.

Beacon Technology and Proximity Marketing in Retail Stores

Indian Retail market until recently was looking for 4 conventional P’s that would help them to swing their business in full motion. These includes – Product, Promotion, Price and Placement. But from now onwards a new P has managed to make its stable room within these. And this game changer is Proximity Technology.

Proximity Marketing has unlocked a new door in the Retail world. Be it India or abroad, Location-based marketing is steadily making its place in the business world.

Retail world with the use of Beacons

Retailers with the help of “Beacons” can push appropriate advertisement content to customer’s smartphone based on his/her location in the retail outlet. The future prospect of beacons will be discussed, but let us go through its feature and let’s check how beacon can interact with applications in smartphones.

beacon technology

Beacon Technology

Beacon use radio waves to transmit signals to the smartphones in a short range up to 70 meters by using Bluetooth Low Energy (BLE) technology. It accesses a CRM database to get a detail report of the customer profile and hence can send customized offers judging the past buying behavior of the customer.

The customer needs to install the apps of the retail in their Smartphone and keep the Bluetooth ON to receive the offers. It can range from Promocodes, Couponcodes, Gift vouchers, Discount offers and Product information.

Beacon Engagement Facts

Proximity sensors can engage your customer for a long time and provide a great shopping experience for your customers. Understanding the previous shopping experience a more personalized discount offer or promotion voucher can easily be sent.

Use Cases in “in-Store Retail”

Consider these scenarios mentioned below and discover how beacons can help increase in-store customer engagement and provide insights to drive sales.

Beacons installed counter can help feed data for instore analytics. It gives perfect research result for the products bought, displayed product, the launch of new product and stock clearance report generation.

Data can also be collected based on the stores visited by the customers, products having a good sale without any discounts and products are not getting many sales with good offers and discounts.

After the purchase is made by the customer, a loyalty program can be sent to the customer that can benefit him in his future purchase and help him to stick to the retail shop. With the installation of the apps, the customer can share feedback and avail redemption offer sent as notification.

Thanking the customer for shopping, discount vouchers or codes for future purchase or codes they can share with friends and families can be sent. This will again be an attempt to encourage sales.

Marketing Cost: Traditional Marketing VS Proximity Marketing?

With strong competition from the online sellers, brick-and-mortar retailers are looking for innovative methods to share promotional offers with buyers.

The Recent recurring cost of Retailers for advertisement are like printing pamphlets, advertise through big and bright hoardings, Television Advertisement and many more! Use of Beacon Technology can be a suitable yet inexpensive tool that can offer best promotion 24/7. It is free from any random maintenance. The only investment you have to make is to buy batteries that too last for 2-3 years.

Data Speed in Beacon Technology

Beacon device uses Bluetooth Low Energy (BLE) technology for proximity marketing, so customers are not in need of any internet access. They just need to use Smartphone with Bluetooth option, and they should keep it ON. For the retail outlets normal 2G and the 3G connection are just enough for proximity marketing using the beacon technology. In addition to this, more and more users are getting accessed to the internet every day and 4G is about to blast the market, so there should not be any annoyance caused by lack of speed.

Outcomes and Benefits of Beacon Technology

Beacons has already been implemented by a plethora of retail giants. Apple, Coca-Cola, LORD & TAYLOR, Levi’s, Virgin Atlantic, MACY’S are some of the beacon’s clients wherein beacons have been successfully implemented and where shoppers are enjoying benefits.

Our Recommendation for Beacon usage

Beacon Technology is accelerating in India. Retailers should look at embracing this technology to create a proximity environment to get an early player advantage and increase business before the opposition catches on.

India is to become the second largest smartphone market in the world by 2017. Users are sure to lap up data services in smartphones with the proposed low rate of 4G net service. This makes smartphones a tool for omnichannel marketing of retail products.

So don’t stay behind, run the race of success.

in-Store Shopping – Fun Package with Retail Analytics

India is now on a growth ride. In 2012, GDP was 5.1 which raised up to 7.3 in 2014. This growth is inevitable in the retail sectors in India. Retail sectors are becoming well organized and attaining maturity day by day. For the right marketing and procurement decision, you can entrust your business with the retail analytics. Retail Analytics provides the analytical data on inventory level, demand – supply chain, etc. Retailers in today’s world are maintaining transparency in the shopping experience.

retail-analytics-2016

Price Transparency in Retail Analytics Companies in India :

There was a time when we had to depend upon the shopkeeper to show us their products and we were to choose just from within their displayed products. But now with the retail shops, we can enjoy the benefit of thorough browsing and choose any item of their desire. There was a time when the price of a definite product was not unique for all. In some cases, shopkeeper used to set price depending upon the attire of the customers. Hence, price comparison was also not possible, and an individual had to depend upon mere bargaining strategy.

But with the introduction of fixed price shops in India, shopping experience became better. Almost all leading branded stores and shopping malls of India are equipped with gadgets like Tickto that allow receiving offline mobile offers (through Bluetooth). They are so designed that you will receive the orders that are meant for your needs only. The artificial intelligence will identify your product choice from your previous shopping details from your mobile.

However, with the introduction of the auto detector machine, there is a risk from people to start gaming in the business system.

Transparency in information:

As soon as you enter the mall, you will be informed of the product detailed information. Thus, the users know how much he should be charged for a specific product. Also with the better information technology, the customers can know how well they should be treated by the seller. Today the seller are more eager to know more about the buyer’s shopping experience than the sale of their product and ask for a review for their products and services. This is just to maintain a healthy relation that will bring future customers into their business.

If a customer is not satisfied with the product, the result can be worst on local forums, blogs, discussion etc. However, this can also be well tackled with the comments and responses made by the seller. The sellers can appoint web community to participate in the forums, blogs and give updated feedback to their customers. This helps in building a strong community, which helps in the long run in product promotion.

Thus, if you are a new customer, before buying any product you can be well informed about the product, and services by the seller in just a few clicks.

Easy Product Detection:

After entering the mall, you have to switch ON your mobile Bluetooth and you will automatically receive the promotional offers, discounts and revised price list of the shops you are visiting. You can compare the product price and choose the shop from where you want to buy your desired product. You will also be guided to the location of your product. The only thing you need to do is to PAY. Now you can truly state – “Shopping was never so easy before.”

Analytics Companies in India is growing every day. It has become a strong platform for building loyalty and turning unhappy browsers to regular customers. It is the analytics firm that is grabbing the regular shoppers and making a business from them and is a win – win market condition for both the buyer and the seller.

Heat Mapping: An Easier Way for Relationship Building

The new camera based Technology is helping the Retailers to get an information about not only what the Customers wants to buy but to keep a track on the matter about what the Customers are actually buying.

Utility of the camera technology:

The Heat Mapping Technology or the camera based technology is a regular trend in today’s world that helps the retailers in the following ways;

  1. It help the retailers to keep a track on what the customers are liking
  2. Keep a track on what the customers are ignoring
  3. Where the customer traffic is more inside the shop.

in-store heat mapping

Thus in-store heat mapping is an excellent way to optimize the store’s layout and design. One of the major utility that the heat mapping technology has is that it helps to distinguish between popular vs. unpopular places and expensive merchandise vs. cheap merchandise.

Latest trends in Heat mapping:

There are various latest trends that have emerged in the world of retailing. So the heat mapping technologies have also undergone various changes in the recent years. These include:

  • Heat mapping technologies are so advanced now a day that they help retailers by saying what the customers wants inside the store. There is a common psychology behind is that touching a product inside the shop increases the chances to buy that particular product. Pricing problem is one of the main problems being faced by the retailers. Heat map can be a solution to this problem. High price can be a reason for the customer to touch a product and not buying it.
  • Another trend in heat mapping includes tracking merchandise record. This type of heat mapping is only concerned level of interaction among the retailers with the customers instead of what the customers are touching.

Heat Map analytical tools:

The top ten heat map analytical tools are as follows;

  • Mouse Flow
  • Lucky Orange
  • Crazy Egg
  • Click tale
  • Heat Map.me
  • Click Heat
  • Click Beat
  • Clicky
  • Inspectlet
  • Sessinocam

Example showing how the in-store heat map works:

There are different colors in the heat mapping system indicating different things like;

A store has certain areas with a high traffic interest then it might be indicated with red, while the areas with little traffic interest can be demarcated by blue light.

On the contrary there are certain areas inside the stores that are having a mix response among the customers. Like some portion of the area can attract people and some can’t, these areas are being demarcated by red color with green patches inside it.

Conclusion:

There are few things that a retailer should keep in mind to make the best use of heat mapping or heat map analytics. The most important content or the thing that a customer may be attracted to is to be kept in front of the eyes of the customers, as when someone is in hurry then he or she picks up the thing that is in front of the eyes. Over crowded with lots and products or contents can make the customer confuse. The interior decoration of a store plays an important role in seeking the customer’s attention.