The Best Tools for Measuring Store Traffic, Conversion Rates and Customer Satisfaction (According to Smart Insights)

Once a retailer knows which metrics are important to their business, they can put those measurements into action by gathering the necessary data. There are many ways that retailers measure the success of their in-store strategy.

Retail analytics can help retailers track customer movement in and out of the store. This information can help a retailer understand which products are selling well and where shoppers might be spending more time than they expected.

Another metric to track is customer satisfaction. Retailers can use surveys or questionnaires to measure customer satisfaction levels on a range of topics such as the quality of service provided, how easily they found what they were looking for, and whether the store made the purchase process easy.

Retailers also need to consider inventory management when measuring their business performance. If too much merchandise is sitting on the shelves, it can lead to lost sales and a negative impact on customer loyalty. Retailers can use analytics to track inventory levels and make decisions about which products or categories need to be in stock more frequently. This data can also help retailers plan for seasonal changes, such as increased demand for winter clothes or items during the holiday season.

Another metric that retail managers need to watch is marketing spend. Marketing campaigns that are successful will result in higher sales volumes over time, but unsuccessful campaigns might have a negative effect on store traffic and profits. Retailers can measure marketing campaigns using analytics tools to see how people are responding to the messages they're sending and whether spending on marketing is worth it.

In addition to measuring business performance through analysis. If a store's layout or design isn't attracting shoppers, adjusting those aspects of the business can help improve sales. Retailers also need to make sure that their customer service is up to the mark in order for customers not only buy products from the store but also continue coming back. Tracking customer service data can give retailers clues as to where improvement may be needed.

Retailers should consider tracking and measuring some of below mentioned analytics also

-Number of visitors

-Average time spent per visitor

-Percentage of sales generated by each product category

-Volume and variety of items in inventory -Number of customer service calls

-Percentage of customers who return after their first purchase

Here are 10 tools retailers can use to measure your store's metrics and see how you stack up against other retailers.

Foot Traffic:

Foot traffic is an important metric to understand for store management because it can help analysts measure the success of store marketing campaigns and assess inventory levels. Additionally, foot traffic data can be used to determine which sales promotions are most successful and whether changes in store policies are necessary. Foot traffic data is also important for measuring employee productivity. By tracking foot traffic and sales over time, managers can determine which employees are generating the most business activity.

RetailNext?

When you're trying to manage a large and ever-growing store with a small personnel, it's important to know how many people are actually coming by your store. RetailNext helps retailers to control and track their traffic better than ever before, so you can plan accordingly. They provide tools that help merchants make wise decisions on what promotions to run and how they can most effectively use their limited manpower.

Aislelabs

When it comes to analytics, the simpler the better. Aislelabs helps retailers carefully track in-store foot traffic and other analytics with sensors, mobile apps, and information gathered when customers log into the local WiFi network. With a single click, Aislelabs allows retailers to see how long a product is displayed on the shelf; how well it's selling; how many times a product has been checked out; and where shoppers like to browse before heading to check out.

ShopperTrak

We all have the same dream, to have a successful business, but achieving this goal can be hard to do. A business isn't a business unless people are coming in and making a purchase so the only way to keep track of this activity is to install ShopperTrak in your retail establishment. ShopperTrak provides you with an easy to use system that will allow you to track the foot traffic in your business. By installing ShopperTrak you can also determine how long people are in your store, what items they are purchasing and even how much money they are spending.

Proximity Marketing (All about Marketing Measurement)

There's no doubt that in order to drive foot traffic and sales, retailers need to know where their customers are. And the best way to do this is through proximity marketing. By using data collected through technologies like GPS tracking and store analytics, retailers can see how visitors move around their stores, what items shoppers tend to buy most frequently, and much more. With this knowledge at hand, retail managers can create campaigns specifically tailored for each customer segment (and even track which of those campaigns are working best).

Beacon technology is the key to proximity marketing. Retailers use beacons to identify customers in a store, send them targeted offers and messages, and even track how customers interact with these offers.

Euclid Analytics

Euclid Analytics uses proprietary algorithms and geospatial data to identify the demographic characteristics of your customers. This means you can use better marketing methods to reach out to customers who are more likely to stay in your store, buy more, and become repeat visitors.

In addition, it is a program that looks through your store's traffic and sales data to determine the areas that your promotions are paying off. By understanding which areas of your store are bringing in the most customers, you can start to make improvements to those areas. The program also gives you insight into which types of offers and promotions are brought in by your store's traffic and sales data.

Estimote?

Estimote products are Bluetooth Low energy devices that can be used to provide local communication and information to consumers. The devices use your location as a key to communicating with your phone. If you are in a store, you can receive information about special discounts and events, or even have a coupon sent to you if you have the app installed.

Inventory Management and Customer Service

Retailers use various inventory management systems to keep track of the items they have on hand and to determine how much of each item is sold. This information can be used to adjust prices and inventory levels as needed, so that the store always has enough of the products customers are interested in buying.

Celect

With Celect, you'll be able to get more accurate returns on your products, better work with your inventory, and make the most of the data you have available to you. Celect is making sure that you'll know what to do with all those products in your inventory.

Inventory management is an important aspect of retail business. By tracking inventory levels and sales data, retailers can adjust prices and inventory levels as needed to ensure that the store always has the products customers are interested in buying. In addition, with Celect, you'll be able to get more accurate returns on your products, better work with your inventory data, and make the most of the information available to you.

Blue Yonder

Being in an industry completely driven by data, Blue Yonder is constantly on the lookout for new ways to make their platform more efficient. By combining predictive models with big data and artificial intelligence, Blue Yonder is able to automate processes and save time for their customers. With the addition of predictive analytics on top of their existing supply chain platform, Blue Yonder has a new way to help retailers save money and improve efficiency. Predictive analytics can help retailers save time by automating processes and predicting when products will run out. Combined with Blue Yonder's existing supply chain platform, predictive analytics provides a new way for retailers to improve efficiency.

Fellow Robots

Every customer is unique and has a different preference and usage pattern, which is why Fellow Robots has developed a solution to automate this process. All customers can now have their product shipped or picked up by their Fellow Robot Buddy, who will then bring the order to your door with the press of a button.

If you are looking to solve the problems in your business and improve efficiency, there’s no better way than technology. Fellow Robots brings artificial intelligence and machine learning to the world of retail by making every checkout process better. This is why they’ve created NAVii, which uses machine learning and neural networks to adapt to the changing environment. So if you’re a retailer, get ready to get smart!

Shopify POS

Shopify POS is a retail point of sale system that helps retailers manage their inventory and sales. Shopify POS allows you to connect to your existing store management software, such as QuickBooks or Microsoft Dynamics, for data entry and reporting. This makes it easy for retailers to keep track of inventory levels, sales data, customer information and more. Additionally, ShopifyPOS offers features such as automatic order processing and real-time alerts when items run out in the store. By usingShopify POS alongside your store's existing management software, you'll be able to improve your business' efficiency and profitability

Simbe Robotics

These automated retail workers are designed to adapt to any task or order in just one hour, but most importantly they're incredibly reliable. And because of the way these robots are programmed, they learn from their mistakes and are guaranteed to perform better each time you send them out for a job. They're also equipped with some helpful "robot-best" strategies to help you get things done more efficiently and effectively, helping you look your best while saving time and money.

Create a better shopping experience with In-Store Metrics Tools

Now you have a list of tools to analyze and get data for your business. The next step should be by analyzing those data you can create a better marketing and promotional strategy, better layout for your store, and organize the inventory system. By understanding where customers are coming from, what they're buying, and how you can improve store layout or inventory management based on that data, your business will be in a better position to succeed.