To obtain valuable information of the number of customers who enter, it is necessary to count the Footfall of a store What is the importance of measuring it? Find out in this post.
Do you know exactly how many people enter your store?
If the answer is negative, you must pay close attention to this article exclusive of Retail Analyticsto put it into practice immediately in your business to improve your sales, thanks buying legal sustanon 250 online the power of the Big data.
Before knowing its importance and the benefits it brings to the retail, we need to understand the meaning of the term Footfall and its context in this industry.
What is the Foootfall of a store?
Fottfall it is a term in English and translated to Spanish means tread, which is closely related with the retail trade because it is used to refer to the people counting or traffic of a store, allowing to measure the flow of those who are mere visitors and they really make a purchase.
When measuring the footfall of a store, you will be able to determine other key metrics for business success in the retail market today, such as, for example, the transaction value average (also known by its acronym ATV) and the conversion rate.
Importance of measuring the footfall of a store
If you are looking to increase the number of sales and therefore increase your profits, you definitely have to pay attention to the tread or footfall of your customersbecause when you perform the count your steps will be possible to identify in the moment which is the number of shopping opportunities that you have in the store, in function of the activity of those that cross the door and leave with empty hands and realized any purchase.
These data have a value very significant for retailers, as they represent a great advantage for them to know what is the footfall of a store at a specific hour, day, week, or month.
Allowing you to know with precision the retailer, what are the hours of greatest demand, to know how to convert to simple visitors into customers and, in general, to optimize the operation and the revenue of the store.
Benefits for retailers
The information provided by the measurement of the footfall of a store it is very useful for managers, as it provides a number of benefits that allow for a better management and excellent results.
Some examples of them:
- Understand in detail what are the factors that are contributing to the momentum of the sales in the store.
- Determine the real needs on the basis of customer traffic and performance, analyzing specific hours.
- To be able to accurately measure the needs of the store based on the footfall, it is possible to make better use of the budget, reducing expenses, and thus making it more profitable to your business.
- On the basis of the results obtained by the conversion rate, you can to know exactly what are the specific days of the worst and best performance in terms of sales is concerned.
- Provides accurate information as to the hours low yields, facilitating the evaluation in order to be able to better the conversion rate.
- Get to know the footfall of a store makes it possible to assess whether the marketing strategies used are bringing the most traffic, or if on the contrary you are driving away potential buyers.
- For area managers the count of traffic facilitates able to view which are the stores with the greatest possibility of growth.
- Measure the footprint of the client allows evaluate the performance of the loyalty programs, such as the use of store cards.
Conclusion
There are many benefits that you can get when you measure the footfall of a storeamong them we can highlight the possibility of post the number of potential buyers and real clients that come in and out, but also the power to know its behavior and on the basis of this make better decisions at the management level that will enable better performance, cost reduction and design strategies well-studied in function of the data collected.
