The problem with POS data

March 01, 2020

Sales data provides insights into what customers are buying, but this only represents what is happening after the decision to purchase has been made. Retailers can also benefit from understanding the events leading up to the decision to purchase and this is done by looking at how customers engage with products, spaces, and staff.

At this moment in time, many retailers are relying on customer surveys and mystery shoppers. As a result, the data provided is often allegorical and its' use is often limited to the specific location in which the data was captured.

Below are some important KPIs that can shed more light on how effective your stores are at engaging shoppers once they are in your store.

Shoes in boxes on shelf

Product Impressions and dwell time

Many of today’s product teams are agile. They build, test and iterate to better meet customer needs and stay ahead of the competition. Product engagement is about understanding how customers engage with your product at the most granular level and how can you affect that customer behaviour to maximize conversions in-store.

By keeping track of product impressions in-store we can begin to answer the following questions

  • What gave your visitors the idea to buy a product in the first place?
  • Where are the “hot spots” in which to place the products we want to push?
  • Which product displays are ineffective?

Don't deliver a product, deliver an experience

Customer engagement

The focus has shifted from selling products to selling experiences. The key to success is building a blended customer experience, and retailers can no longer afford to ignore it. As customers use more and more connected devices to shop, retailers have to find a way to tie all the channels together to create a unified and personalized experience for the customer. As retailers increase their efforts to create customer experiences, they need a way to quantify the efficacy of their efforts.

Using security cameras to measure how effective your experiential marketing campaigns are at contributing to customer experiences is a way to create and iterate on your customer engagement plans.

Assorted business desserts display

Staff engagement

Once a customer enters a store, a store managers primary impact is the decisions that they make regarding staff. Where staff are located in the store, the time at which they engage customers, and how they deal with customers are all vital questions. Computer Vision and real time reporting provide an element of dynamism to store managers decision making allowing them to react and adapt to day-to-day changes on the shop floor.

If you like to learn more about how shoppers navigate through your stores and you have security cameras in-store, book a demo with a member of our team today.