It’s All About Conversion

DOES YOUR MERCHANDISING WORK? Where do shoppers travel and pause within the store? How and when do they view and respond to items on display and in promotional locations? Do you have a mechanism in place to capture and act on this vital information?

Chances are, your e-retailing rivals are way ahead of you when it comes to sensing, capturing and analyzing shopper behaviors, product views and conversions. Like it or not, the informational and analytic norms of the online world are today redefining best practice for brick and mortar retailers.

That reality is evolving fast. With the advent of new video technology solutions that sense and analyze shopper behavior, merchants are gaining the ability to understand what shoppers are doing, in every store, every day. Practical in-store sensing is coming of age. Meaningful conversion analytics can be at your fingertips.

Familiar traffic-counting systems no longer meet analytic and operational needs of the brick and mortar retail industry. Retailers face competition from online stores and from each other, as convenience stores, big box stores, and even apparel stores and supermarkets diversify their merchandise to compete for a larger share of shopper wallets. In much the same way that e-tailers use online analytics to improve their conversion rates, brick and mortar retailers need empirical data to gain actionable in-store insights and make better merchandising decisions.

Commissioned by LightHausVCI and prepared by James Tenser, principal of VSN Strategies, The Conversion Advantage explores why actionable insights begin with capturing key metrics about shopper behavior: by store, by category, and by product. The white paper demonstrates how using Visual Customer Intelligence (VCI) systems delivers these key metrics by capturing data on customer movement, browsing behavior, engagement, and shopper demographics. It shows how these metrics help retailers increase conversion rates, optimize staffing levels, refine marketing plans, and create winning strategies. (Click either graphic to download.)