Asked to evaluate the importance of various metrics/insights, brick-and-mortar retail executives gave "How many people enter the store" the highest average score, followed by "How many customers who enter the store buy something."
Other data points highly valued by retailers include which promotions attract customers; where customers go in a store; and when customers pick house brands over national products.
Below, additional key findings from the report, which was based on data from a survey of 124 retail executives from around the world, 54% of whom work for companies with with annual revenues of more than $1 billion.
Top Benefits of In-Store Analytics
Respondents say the top benefits of investing in-store analytics are understanding and anticipating customers' needs better; improving store operations/staffing; and identifying new offerings for customers.
Who Benefits From Analytics
Respondents say Marketing is the department that benefits most from in-store retail analytics, although they cite several other functions that benefit as well, including Merchandising, Operations, and Loss Prevention.
71% of respondents have invested in counting technologies, or plan to by 2015; 68% plan to invest in in-store Wi-Fi; 68% in loyalty programs.
About the research: The report was based on data from a survey of 124 retail executives from four regions (North America, Europe, South America, and Asia), 54% of whom work for companies with with annual revenues of more than $1 billion.
Continue reading "In-Store Retail Analytics: Most Valuable Insights, Tech Trends" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
You may like these other MarketingProfs articles related to Customer Behavior:
- People's Customer Service Preferences in Times of Crisis [Infographic]
- What B2B Tech Marketers Want From Martech Solutions
- How to Push Customers Down the Brand Loyalty Funnel
- Why People Really Do What They Do: 'Primal Brain' Author Tim Ash on Marketing Smarts [Podcast]
- Do Customers Trust You? Six Tips for Earning Brand Trust in 2021