Why Use Retail Foot Traffic Data?įoot traffic data is referred to as “ground truth.” The data is an actual measurement of the frequency of visitor traffic. The combination of very specific location information and dwell time provides retailers and brand managers with key insights as to the attractiveness of their goods. One significant data provided by mobile devices is how many times we frequent a retail store and how long we spend at that particular location. These “breadcrumbs” of data allow advertisers to understand how people move and interact with their surroundings. Apps collect location-based data, anonymize these data and sell them to advertisers. Today, we carry mobile devices on which we utilize apps for weather, map directions, and to check the local news. This entails understanding local demographic characteristics, competitive impacts, and the introduction of a relatively new type of location data: retail foot traffic data. So, the question becomes-how do you measure customers’ attraction to your best retail stores and keep them coming back? It’s more than a gut feel and takes analytics to understand store performance and develop a model for repeat success. Getting potential customers to interact with the product at a brick-and-mortar establishment is often the best way to build trust. The solution is to find a successful model that will yield success again and again.įor consumer brands, today’s omnichannel balance comes with its own set of challenges because while e-commerce offers convenience, there is still a distance between the brand and the customer. But to repeat that success daily is perhaps the biggest challenge that presents itself to franchise managers. What defines retail success? Brand? A great product? Or is it something else? Location and convenience? Retail managers will probably tell you it’s a combination of all those things.
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