Not too long ago there were only two ways to analyze the visitors in your store. You either worked with loyalty cards, which meant you could only monitor the behavior of your frequently returning customers, or with clickers monitoring nothing more than the number of visitors instore at any given time. The times they are a changing!
Nowadays we have a multitude of technologies to analyze what is going on instore at any given time. Camera heat mapping, iBeacons and social wifi all offer unique insights into visitor numbers, behavior and even demographics and sociographics. Never before have retailers been so well informed about what is going on in their own shops.
Furthermore, new technologies and their current price point have severely democratized the world of consumer analysis. Back in the day only large chains could afford to have some form of analysis performed. These days it only takes a cheap router and a social wifi subscription to gain insight into everything from visitor gender and age to educational background, hobbies and anything else people share on social media. With two extra routers and a smart trigonometry algorithm you can even link this data to movement instore. Heat mapping 2.0 available to any little shop on the corner!
So while the retail game has become harder and harder due to financial misery and the rise of online sales, here we finally have a development that will make a huge difference for retailers large and small. But perhaps it is still hard to grasp the true potential for the smaller retailer who has never before engaged with such data. So here lies one of the main focus points for retail entrepreneurs for the coming time. Start now!
Another exciting aspect of this revolution is the fact that data is now available real time. You could potentially alter the instore ambiance or customer approach real time as your audience evolves during the day. The retail space of tomorrow is always optimized to cater to the needs of the specific visitor at any given time. Now is the time to design that new retail space if you are not to loose out tomorrow!