Retail Property Analytics: understanding the shopping experience
The increasing onslaught from online-based retail stores has created an urgency of “value maximisation” in retail and shopping mall management. Many of these brick-and-mortar establishments have assets whose real potential is yet to be fully exploited. By putting in place sound metrics that take into consideration incremental change and its impact in productivity and value creation, your retail property can provide a tailored experience to your customers.
Understanding consumer behaviour is a critical discipline which needs to be mastered if you are to successfully pinpoint the key areas that currently generate the highest return on investment (ROI). In addition to highlighting other potential points that can be pursued to generate ROI in the future.
At CountWise, we fully understand and appreciate the fact that asset performance involves lots of factors in addition to tenant sales and visitor traffic counting numbers.
Our solutions are practical and tackle critical retail property pinch points such as staffing, marketing, weather considerations, amongst other retail concerns. Our business platform allows for centralisation of data and information which enables you to gain a clear understanding of your business areas; empowering both your local and regional management in making real-time decisions that impact and drive centre performance.
To clearly understand the opportunity and collect clear actionable insights in your property, traffic counting is by far the best place to start. In addition to showing the numbers, people counting helps you appreciate the type of marketing activities that drive more visitors, showing areas that allow the better understanding on how to align staffing and service requirements that support and optimise your promotional activities.