Retail analytics solutions naturally bring on increased convenience for customers in brick and mortar retail stores and showrooms through digital integration. Retail analytics assist to monitor customer behavior during a visit to a retail store and between the period of decision and purchase and work excellently in marketing to make a conversion.
What is Retail Analytics?
Retail analytics is the process that provides information about the customer behavior, needs, demands according to data. This process scrutinizes customers’ behavioral patterns, inventory levels, supply chains, customer demands, sales, and much more important areas to progress regarding marketing and sales decisions.
Retail analytic solution is one of the best software solutions in this super-competitive market to uplift sales in brick and motor stores to the next level. It’s not just about sales but more about assisting a business from top to bottom level through the data-driven process of business optimization, efficiency growth, and analyzing customer experience.
How does Retail Analytics Solutions work?
Several data sourcing technologies such as wifi-tracker, 3D sensors, infrared sensors are used these days to track customers’ behavior. Additionally, retail analytics solutions are integrated with some complex systems such as face analytics systems, audience data analytics as per gender, age, demographic, buying pattern, and so on.
Analyze current and historical data
Analyzing the data of products that sold out the last session rapidly. From best selling to least selling products analyzed correctly through collected data along with face analysis. These analyses help businesses to understand their customers’ interests based on their age, gender, choices, etc. to use data to target the right customer at the right time on digital platforms to run ads and customer loyalty programs to attract programs.
Customer behavior
Breaking down customer behavioral data helps any business create a strategy, target the correct audience, and get conversions. These advanced technologies make it easier to analyze and build tailor-made marketing and sales strategy to grow businesses cost-effectively.
Prospects counting
To count conversion rates prospects counting is also an important metric. Some people who entered and connect with the business at a particular time and whether they purchased or leave the store without buying anything informed about the data of conversion rate within a particular period.
Hot zone & dwell time
The geographic location of a brick and motor store and the local targets of that business is also known as store heatmap. By analyzing data of local public interests, time of visit based on gender, age, and interest to enable the merchants to create layouts for their targeted customers.
Gaze analytics
This perspective gives a clear vision about the area of interest of customers. How much time a customer spends on a particular product or product shelf, visiting that particular product-based content to enquire online – these are the data that helps a business run ads on that particular product to influence to engage and purchase from that particular store.
Demographic data
Analyzing demographic data is setup a chain between the customers and the retailers to display the most relevant products based on customers’ interests. Any brick and motor store can increase sales and ROI by using integrated Customer Management Software (CMS) and audience management software.
Benefits of using Retail Analytics Solutions in Businesses?
In Dubai & Saudi Arabia, most people like to purchase from local stores, and this retail analytics software solution helps businesses to grow sales with data-driven strategic marketing. There are several benefits of using retail analytics software.
- Appropriate management of stocks.
- Determined and well-managed supply of stocks.
- Correctly analyzed customer behavior.
- Streamlined management on merchandise.
- Data-driven & strategic ads to connect more relevant customers.
- Increase ROI and generate instant revenue on seasonal sales.
- Market research and consumer data help decision-making on marketing and sales.
- Increases local sales, and builds trust & customer loyalty.
How Yegertek can help a business in Retail Analytics Solutions?
Yegertek is a renowned retail analytics software provider in UAE & Saudi Arabia for a decade. We’re providing all-power, tailor-made retail analytics software to figure on the customers’ interest and influence customers for their next move to conversion. Our team is professional to provide seamless and integrated CMS tools with audience analytics technology to maximize profits and sales. If you are searching for a retail analytics provider company, visit our website or contact us now.
