Understanding store demand

February 17, 2020

Measuring demand offers insights into when, where and how many people are visiting your stores. Analyzing the demand for the store also sheds light on how effective your marketing and promotion campaigns are at attracting shoppers in-store.

Demand has three key metrics:

Arrivals & Exits

This metric relates to the start of the sales process and is very important in calculating sales conversion and service intensity. Aura Vision not only counts the number of people entering a store but also provides in-depth demographic analysis of arrivals, giving you further insight into your understanding of store demand.

Arrivals into a department store

Occupancy

Occupancy tells you how many shoppers are in your store during a specific period of time. By studying trends in occupancy you can accurately measure customer and staff activities in-store and ensure that staff are in the best position to convert shoppers into customers. Again, Aura Vision allows for deeper analysis through demographic analysis and customer/staff segmentation.

Camera view of restaurant

Dwell time

Dwell time is the length of time that a visitor spends in the store. This is an essential performance indicator for every retailer: it could help analyze the behaviour of your customers during their purchases and can help increase average spending. Understanding the relevance of dwell time in your business is necessary to know the habits of your target market, measure this average stop time and act to increase revenues of our business.

Dwell time represented through old clocks

Some best practices for demand optimization:

1

Focus on weekly analysis and comparison of demand in-store. Typically each day will have its own nuances and although daily reports are very helpful for store managers, a week-to-week focus allows you to take a step back from the data and begin to spot the insights and drivers for success.

2

Invest in technology that not only helps you capture the demand data but also helps you in identifying the drivers for success. Once you have identified these drivers you can begin to formulate plans on how you can replicate and scale up those successes.

3

Segment staff in demand analysis. Traditional traffic counters capture behaviour of all people, including employees. Aura Vision solves this problem by training your cameras to recognize staff uniform and remove them from arrivals. Our ability to segment staff allows us to analyze how staff and customers move through the store, with the aim of aligning the two.

If you would like to learn more about measuring demand using your existing security cameras get in touch and book a demo with the team.