WiFi analytics supports and influences store marketing and merchandising in many ways.
Whether applying key takeaways from the online experience to in-store shopping or using data to target competitor advertising on the spot, these kinds of sophisticated customer insights are changing the way retailers merchandise and market their goods. Obtaining better insights into which promotions drive store traffic and how product placement drives customer engagement is a way of capitalizing on WiFi analytics (also called location analytics) and creating testable predictions for future store initiatives.
These same tools and insights can be applied to improve a retailer’s operations, too.
Let’s start with footfall and customer visit times.
With accurate data aggregated over time, and even informed by previous results from store promotional activity, managers can plan staffing much more efficiently. By predicting peak times and down times based on real-time metrics, it’s easier to ensure adequate staff is available without over-staffing, no matter what programs and promotions are planned.
Sometimes, retailers need to provide specifically trained staff for certain product or promotional offers. WiFi analytics allows managers to anticipate which areas of the store and times of the day are most likely to be busy around certain products or services. Such information provides insight into when and where certain staff needs to be on hand.
Detailed heat maps of traffic patterns give retail management analytical insight that was previously only anecdotal.
Understanding the impact of display placement in high-traffic areas allows the store to predict which areas are most valuable.
This provides crucial data when negotiating space with third-party merchandisers co-located in the store. The placement of these third parties can have a significant influence on traffic flow throughout the store. This interrelated impact affects the value of the primary third-party space and may necessitate additional costs to offset any loss of value realized by other store zones.
If you're considering implementing a WiFi analytics program, contact us and we'll help explain how analytics can help achieve your goals, marketing and beyond.