How footfall analytics improve your transactions

- Apr 08, 2020-

The so-called footfall traffic is what we usually call the people count, popularity, a more professional way is the number of visitors traffic, the most intuitive way to evaluate the performance of a mall is to go to the mall during peak hours and usually do a footfall statistics, through the data , analysis and comparison, we can basically grasp the people footfall counting numbers.

Everyone understands a simple formula: sales = number of visitors × unit price of customers. The amount of footfall is not only a question that any store should have core control and attention in the early stage of site selection, investigation, preparation and later operation, but also a prerequisite for directly measuring the performance and competitiveness of the store. The decline in the store's footfall directly leads to a decline in sales, and we must go all out to deal with and solve the first problem.

 

So, how to break through the unfavorable factors of footfall, we think we can start from the following aspects:

1. Improve customer flow through novel and accurate promotional models.

2. To achieve the purpose of attracting customers through the adjustment of its own product structure combination.

3. Mining the footfall by targeting the target consumer groups.

4. Extend footfall by enhancing differentiated value-added services.

5. Increase the footfall by enhancing the supporting functions of the mall itself.

7. Establish a consumer-centric data center (customer information management). Through customer orientation and target segmentation, fully study the consumer dynamics in the business circle and cater to the consumer's mentality of seeking innovation and change. Common methods include SHOW analysis, ABC analysis, market questionnaire survey, and visit method to establish customer purchasing behavior. Changes and market trends, and on this basis, do a good job of product structure adjustment and counter marketing measures.

In short, footfall is like the soul of a shopping mall. The intensification of competition makes the retail industry's grasp of footfall like fog, rain and wind. It needs to fully arouse the attention of retail elites and store executives in order to raise the sword of business and win A thousand miles!