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Why invest in in-store data analytics?: Quick facts on the role of data in improving store revenue
In-store video analytics can provide: – Footfall, inside and out – Time spent – Dwell analysis – Heat maps by footfall and time spent – Customer path – Age and gender demographics – Queue monitoring – Areas of interest This level of customer analytics should be used to streamline all business areas; staff scheduling, store […]
March 7, 2023
Technology Bridging the Gap Between Online and Offline Shopping Experiences
Omnichannel retailing is essential in a time where many touchpoints are available to consumers and most are multichannel buyers. At present, consumers go through an average of 6 touchpoints before making a purchase, making the gap between these buying channels a point of friction. Retailer must bridge the gap between these different touchpoint as PWC’s […]
February 17, 2023
Is Your Brick-And-Mortar Store Ready for 2023?
Footfall into retail stores were 15.1% higher in 2022 in comparison to the year before. 19.7% more shoppers flocked the high streets and 13.4% visited shopping centres. This upward trend is expected to continue through 2023, therefore, it is crucial for retailers to focus on enhancing the physical retail experience in order to retain existing […]
February 9, 2023
Another Tough Year for Retail: How can Retailers Prepare of 2023?
With the ongoing inflation and the cost of living crisis, the first half of 2023 is expected to be another tough few months for retailers. However, the second half should see a growth of 3.6% to 4.7% compared with the 1% to 2.3% in the first half as inflation starts to slow and consumer confidence […]
February 3, 2023
Hybrid working: How Can Offices Keep Up With The Changes?
Traditional office spaces have always evolved to accommodate a business’ growth, new technology, and the turnover of staff. However, the outbreak of the Covid-19 virus transformed how offices operate. Staff worked solely from home during the multiple lockdowns, and two years later, most businesses are offering hybrid working, allowing staff to split their time between […]
January 25, 2023
2023: The Return of In-Store Shopping
The ONS reported a 40% growth in ecommerce in 2020 since consumers had no option but to shop online during times when the Covid-19 virus was prevalent. Fast forward to 2023, consumers are changing their shopping habits once again to manage pent up desire for experiences as well as finances during a time of economic […]
January 16, 2023
How are Cash Strapped Consumers Shopping this Christmas?
It seems as though Christmas 2022 is about making the right choices. With inflation at 11.1%, a 41-year high, consumers are forced to be thoughtful about how they spend their money. Some opting to spend less this Christmas by simply buying less food, drinks, and presents, while others are escaping on a holiday. With pent […]
December 16, 2022
Why Closing Brick-and-Mortar Stores Should be a Tough Decision
With the UK in a recession, the retail sector is once again suffering and retailers have had to make the tough decision to close stores in an effort to cut costs and improve profits. Case studies: H&M has closed 56 stores in the UK since its peak in the months before the Covid-19 pandemic outbreak […]
December 1, 2022
Delivering this Festive Season? Here’s what your customers want
Consumers and retailers are both concerned about deliveries this festive season. Consumers are expecting fast, free, and reliable shipping while retailers are extending delivery times, increasing delivery fees, and working with new delivery partners to cope with rising costs and lack of staff. Not meeting consumer expectations will have negative impact on conversion. So, what […]
November 22, 2022
Black Friday and Cyber Monday 2022 Predictions
Consumers’ economic uncertainty will not be the only factor affecting Black Friday and Cyber Monday sales. Other factors such as the quality of the deals offered, length of sales and age group will also impact how retailers perform this festive season. 1) Consumer spending The rise of inflation and the cost of living crises are […]
November 16, 2022
Brick-and-mortar retailing is not dead
When the Covid-19 pandemic hit and offline retail stores were forced to close temporarily, consumers had no choice but to shop online. It was believed to be the end of brick-and-mortar retailing as consumers were becoming increasingly accustomed and comfortable with the convenience of online shopping. However, fast forward two years, physical retail is […]
October 28, 2022
The Benefits of Pop-up Store: Why Are They Absolutely Everywhere?
Pop-up stores are popping up all around us. They are by online retailers wanting to move offline; and they are also by established brands offering an experience to consumers. They are absolutely everywhere and here’s why retailers are choosing pop-up stores over permanent ones: Cost-effective. The obvious cost saver in a pop-up store is rent. […]
October 16, 2022
AI use in brick-and-mortar retail
The global artificial intelligence (AI) market in retail is expected to grow from $5 billion in 2021 to over $31 billion in by 2028, at a CAGR of 30.5%. The reason? AI is automating tasks with speed and efficiency, helping retailers make better business decisions where they’re able to save costs and discover opportunities. Let’s […]
October 9, 2022
Data backed marketing to improve personalisation and delight shoppers
Suppose you’ve spent countless months and resources creating a product; now it’s time to put it on the shelves. What are you going to do to ensure a successful launch? For a successful marketing campaign, you need to first clearly define your target audience. From your market research you know who this product is made […]
September 30, 2022
Virtual Stores: What are the pros and cons for retailers?
Retailers are using VR and AR technologies to create ecommerce stores, known as virtual stores, allowing consumers to browse for products as they would in store. The aim is to bridge the gap between online and physical stores giving shoppers a true omnichannel experience. Advantages: Higher sales. Virtual stores are a more practical choice for […]
September 26, 2022
Amazon’s “Just Walk Out Technology”: Is it Worth the Price Tag?
Amazon’s Just Walk Out Technology allows shoppers to leave a store without checking out. A combination of 3D cameras and scanners recognise products that have been purchased and charges the shopper automatically through the app; and an itemised receipt is sent promptly. This eliminates the need for long queues, makes checkout a more seamless, and […]
September 9, 2022
Data Storage: The risks and Issues
The amount of data being stored is increasing exponentially. And with it increases the risks and issues with data storage, for both retailers and consumers. Retailers: Storage space: Data needs to stored somewhere, leaving data owners no option but to invest in high tech servers or cloud storage. For in house storage, IT teams need […]
August 31, 2022
Retail Digital Transformation and the Growth of Retail Analytics
The retail analytics market is expected to grow from USD 5.84 billion in 2021 to USD 18.33 billion in 2028, at a CAGR of 17.7% in that period. This is due to the growth of e-commerce, digitisation of retail stores, and the need to improve consumer experience to earn and maintain customer loyalty. The retail […]
August 5, 2022
Retail Challenges in 2022
Retail is continuing to struggle with changes accelerated by Covid-19. The ability to embrace and adapt to the rapidly changing industry will determine the winners. Here are some of the struggles retailers face today: Omnichannel approach: By now, we’re all aware of the omnichannel journey customers go through when shopping. From discovery to transaction, the […]
August 1, 2022
The Introduction of Return Fees: How is it Affecting Retailers, Consumers and the Environment
Next, Zara, Boohoo, Uniqlo, and Urban outfitters are among retailers who introduced return fees in an effort to reduce returns, and thus costs. As of May 2022, Zara charges £1.95 return fee for online order. However, in-store returns of online purchases remains free, driving footfall to the stores whilst reducing costs of putting returned items […]
July 25, 2022
Retailers reactions to the cost of living crisis
The UK annual inflation rate hit 9.1% in May 2022. Consumers reacted by making spending cuts as the prices of essentials such as energy, food, and petrol surged. According to the BRC, retail sales was 1% lower in June 2022 than the previous year despite the demand created by the Queen’s platinum jubilee celebrations. Barclaycard’s survey reports a 5% year-on-year […]
July 15, 2022
Why Video Analytics: The Quick Answer
McKinsey’s forecast positions video analytics as one of the most important IoT solutions for retailers. It gives retailers access to valuable insights into customer behaviour which can be used to improve customer experience, streamline marketing, strategic decision making, and ultimately, maximise store revenue. All-in-one solution for in-store data. Video analytics can provide powerful insights on […]
July 8, 2022
Customer Demographic Changes: What to look out for
The demographic of shoppers has always been important for product development, marketing, merchandising, store design and more. Consumer behaviour had been changing since before the pandemic but the pandemic accelerated these changes: many shopping local, others using different channels to shop, and cash strapped shoppers are looking for cheaper alternatives. This quick shifts in consumer […]
April 1, 2022
Optimise your retail store with heat maps
Heat maps are produced using video analytics software tools which track shoppers through the store. They are a type of data visualisation which uses colours to represent information such as high and low trafficked areas, time spent, and interaction with products in a simple image with high accuracy. There are two types of heatmaps: heatmaps […]
March 3, 2022
Time Spent In Store Has a Direct Impact on Sales: How Can You Monitor This Important KPI?
For every 1% increase in time spent in-store there’s a 1.3% increase in sale. As the time spent in store increases, so does the number of people making purchases, their basket sizes, and the transaction value. A report by First Insight compared online and offline sales and found 71% of all surveyed shoppers spent $50 […]
February 25, 2022
How is Inside and Outside Footfall Analytics Helping Retailers Maximise In-Store Revenue?
Do you remember the days, not so long ago, when staff members had to count footfall with a clicker? Well, many retailers have thankfully moved on from that and started using advanced tracking solutions to automate this tedious task. As a result, they’re now able to collect actionable insights into how consumers navigate brick-and-mortar […]
February 18, 2022
Social Media Selling: Advantages for both Consumers and Retailers
Social media has become more than a just a touchpoint in the consumer journey. It is now a place where shoppers can discover products, obtain relevant information quickly, and make purchases all the while enjoying the entertainment it offers. Significant consumer activity emerged on platforms such as Facebook (55%), Instagram (54%), YouTube (49%), TikTok (32%) […]
February 11, 2022
Earning loyalty through in-store personalisation
Consumers are now expecting personalised products and services in brick-and-mortar stores. Meaningful one-to-one interaction, personalised messages, accurate recommendations, and targeted promotions are all tools to maintain and earn loyalty. Infosys report shows, personalisation has influenced 59% of consumer on purchasing decision; 62% prefer personalized offers or promotions based on past purchases; and 44% say they […]
February 3, 2022
Consumers’ Call for Sustainable and Ethical Brands
Consumer’s interest in sustainability and ethical retailing was not sparked by Covid-19. Instead, the pandemic gave momentum to an already growing – trend, says McKinsey. During the height of the pandemic, consumers had more time to think about and educate themselves on issues such as climate change, sweatshops, water usage etc. Forrester data reveals that […]
January 27, 2022
Experiential Shopping: Real Life Examples
Consumer expectations of physical stores have changed since pre-pandemic. Most shoppers have become accustomed to online shopping and enjoy the convenience it offers. So, what have brick-and-mortar stores got to offer? Well, brick-and-mortar stores have the advantage of being the only touchpoint where consumers can be truly immersed in the brand. According to Shopify, more […]
January 20, 2022
Consumer expectations of retail stores in 2022
Experience, personalisation, and technology will be at the centre of consumer demands this year. We saw these trends being accelerated by the Covid-19 pandemic and in 2022, they will continue to have profound impact in the retail sector. 1) Experiential shopping: Since the beginning of the pandemic, consumers have been […]
January 13, 2022
Boxing Day 2021: What happened on one of the busiest shopping days?
Retail has suffered immensely since the outbreak of the Covid-19 virus with brick-and-mortar stores taking the bulk of the hit. Nevertheless, due to the successful vaccine rollout, retailers had hoped for a ‘back to normal’ boxing day and prepared physical stores for a successful December. However, the typical boxing day scene of long queues […]
January 4, 2022
A pandemic Christmas: Key Shopping Dates and Demands
Christmas in the middle of a pandemic is different. Britons spent Christmas last year in lockdown, celebrating only with their household. This caused a negative impact on the retail sector as demand for Christmas products, from Turkey to clothing, was lower than previous years. However, this Christmas season, McKinsey has forecasted a strong demand as […]
December 10, 2021
The State of the Global Supply Chain this Christmas
The most common method for deterring and identifying theft is currently CCTV cameras. 54% retailers have said that CCTV systems have significantly reduced theft and fraud by staff and contractors. However, they have limitations, and theft cost UK retailers £2.2 billion and US retailers nearly $62 billion in 2019. 2020 also made retail stores a […]
December 7, 2021
Giving Back During the Christmas Season Can Boost Retail Sales
Retailers have found different ways to give back during the Christmas season and encourage shoppers to do the same. Being charitable has helped stores sell more products, improve brand image, and gain loyalty from consumers. Here are some exciting ways retailers are giving back this season: Lancôme The […]
November 18, 2021
10 Christmas Marketing Campaigns Ideas That Are Designed to Improve Sales
Christmas season is shopping season! Online or offline, commerce will surge as people prepare for the festive season. At such a crucial time, well-designed marketing campaigns can improve footfall, strengthen customer relationships and significantly improve sales. Here are some ideas for Christmas marketing: 1. Review previous campaigns In […]
November 11, 2021
How Can Modern Technology Help Reduce Return Fraud?
Christmas is approaching. It is the time of gifting and returning. So, retailers are trying to tackle return fraud at a time where returns are at their highest, increasing the chances of fraudulent returns. In the USA, 25% of annual returns happen between thanksgiving and New Year’s Day. That’s not to say return fraud is […]
November 4, 2021
5 Technologies for Retail Loss Prevention
Theft and shrinkage have been causing big losses for in retail. According to a 2020 BRC survey, crime alone had cost retailers £1 billion in 2019 and a whopping £1.2 billion was spent on crime prevention. Technological advances are among some of the most effective loss prevention methods as they are reducing shrinkage, catching […]
October 29, 2021
Theft prevention with video analytics
The most common method for deterring and identifying theft is currently CCTV cameras. 54% retailers have said that CCTV systems have significantly reduced theft and fraud by staff and contractors. However, they have limitations, and theft cost UK retailers £2.2 billion and US retailers nearly $62 billion in 2019. 2020 also made retail stores a […]
October 20, 2021
6 Payment Innovations and Trends Retailers Should be Prepared for in 2021
Following the outbreak of the Covid-19 pandemic, consumers have become more tech savvy and concerned with safety. They are adopting new payment technologies and innovations to stay safe and shop efficiently. Retailers have the opportunity to use these technologies to give themselves a competitive edge. Here are some of the payment innovations and trends […]
October 8, 2021
Digital Signage: The new-age technology for retail
AI based digital signage is a perfect way to meet consumer demand in retail stores as well as build the bridge between omnichannel. While static signage has always been around, this new technology has the ability to collect data and use that data to disseminate correct information and promotions, to a highly targeted audience, at […]
September 23, 2021
The potential of AI in brick-and-mortar stores
Artificial intelligence (AI) has the ability to completely transform retail by offering a level of automation, personalisation and efficiency that improves customer experience as well as help retailers make instrumental business decisions. According to TotalRetail’s Retail Technology Report, AI and machine learning will have the greatest impact on retail over next few years. […]
September 17, 2021
Travel retail: How will airport retailers recover from Covid-19 losses?
The Covid-19 pandemic has gravely impacted the retail industry. While high street retail is starting to recover, airport retail is still operating in uncertainty due to the low footfall and advice against non-essential travel. Pre-pandemic expectation was that airport retail sales would reach $48.2 bn in 2020, a 6.1% rise on 2019 levels. This […]
September 3, 2021
Hospitality in retail stores: Are cafés and restaurants the key to improving footfall?
In a bid to entice shoppers to spend more time in brick-and-mortar stores, retailers are providing an extra layer of service in the forms of restaurants and cafés. This approach has been welcomed by the post pandemic consumers who have pent up demand for experiences and socialising face-to-face. For retailers, hospitality within stores increases footfall […]
August 26, 2021
6 proven content marketing ideas for retailers
Content marketing can be fun for creative people capable of thinking outside of the box. Clever marketeers engage consumers by delivering information in creative ways. So, when done right, content marketing can benefit your business immensely by creating long lasting customer relationships. The end goal is to create a community of likeminded people […]
August 19, 2021
Content marketing: where does it go?
A customer interacts with a brand roughly 20 times before making a purchase; and the post-pandemic consumers visit more than just the brick-and-mortar stores and retailers’ website for inspiration. That is the reason businesses must have a robust content marketing strategy at each stage of the customer’s journey. Failing to leave a favourable impression at […]
August 12, 2021
Omnichannel consumer journey: How the pandemic changed shopping behaviour
Consumer journey in retail has become complex with new touchpoints emerging frequently. Omnichannel is no longer just stores and a website; social media, apps, adverts and other touchpoints are becoming increasingly popular and impactful, particularly among the younger generations. The Covid-19 pandemic has further accelerated the growth of these new sales channels, forcing retailers to […]
July 30, 2021
Freedom Day: Retailer’s Struggles and Solutions
In a bid to get back to normal, whilst living with the Covid-19 virus, the UK government has scrapped all legal restrictions on social distancing and mandatory masks as of July 19th 2021. Individual retailers are now responsible for making their own rules on the matter and imposing them; and the safety measures in place […]
July 22, 2021
Video analytics is an all-in-one solution for small retailers
One of the biggest differences between small and large businesses is their ability to take risks. Small businesses, new or old, are often one bad decision away from failing while large businesses have the resources to recover. Therefore, it is paramount that small businesses make profit consistently. AI based video analytics can help small business […]
July 15, 2021
What is TrackIn
software in a nutshell.
TrackIn is an AI powered video analytics software that connects to existing CCTV systems and provides powerful insights on customers’ behavior in physical spaces.
With TrackIn you can measure how many people pass by and go into your physical space, how long they stay, which areas they visit the most, which paths they take inside, how long they queue at check out, what products or areas they engage with, and among others.
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