The world of Retail is changing at a fast pace. The retailers today are experimenting with lot of things to attract new customers as well as to retain the old ones. Thus retail analytics plays an important role among the Retailers to succeed in their business. Customers are a most essential part of business. Both for online and brick and mortar stores customers are an integral part of the business.
Scenario of In-Store Retailing:
The online Stores are experimenting with their styles, designs, placement of their products to attract the customers and so that their products catch the eyes of the people.
Although the brick and mortar stores are dominant among most of the customers but these stores lack behind due to improper technologies to conduct and judge their customers behavior. However, now most of the physical pay stresses to know their customers behavior. The retailers of these stores now have a close eye on the buying habits of the customers, movement of the customers inside the shop. In-store retailing is emerging at a fast pace in today’s retail shop. The retail shops now have security cameras inside the shops to keep a watch on their customers.
The use of multiple cameras can track the behavior of the individual customers as they roam about in the shop.
Benefits of knowing the Customer’s Behavior:
In-store Retail Analytics also help the Retailers by providing data about the Customer’s Behavior outside the shop. They provide data about where the customers are going, where the customers roam about, whether they are shopping alone or with friends. These data help the retailers to plan accordingly and project their products in front of their customers to get most of the output out of it.
On the other hand the brick and mortar stores those are lacking behind these sophisticated technologies also conduct these surveys on assessing the customers’ behavior. They instead of using all these technologies they walk around the shop to look at the customers to assess their behavior whether their plans and programs are working well on their customers.
Trends of In-Store Retailing:
The data collected from in-store retail analytics processes help the retailers by providing data of POS (point of Sale) as well as data related to the cash register of the store.
Another part of in-store retailing involves displaying the products and offers in a right manner so that it can attract and catch the eyes of the customers. Placing the products in front of the window or the glass door can catch the eyes of the passersby also.
Customer traffic information plays an important role among the retailers. The data revealing the number of customers regularly entering the shop is very much an integral part of a good retailing. The data obtained from in-store retail analytics process also helps the retailers to know whether the promotions and the offers they designed for their customers are working well or not.
On the Retailers point of view in-Store Retail Analytics is a process of anticipating and understanding the customer’s needs and wants in a better way. Improving the staffing, identifying new offerings and planning valuable promotions for the customers are all a part of the in-store retailing process.