Dynamic traffic intelligence solution improves operations and optimises profitability
Tyco Retail Solutions, a leading global provider of retail performance and security solutions, has a dynamic traffic intelligence solution that can answer the who, what, when, why and where of your consumers to help you increase store conversion rates.
“Retailers often need a clear understanding of how their differently branded stores’ locations compare with each other as well as wanting the ability to track shopper conversion rates within each store. With our traffic intelligence solution, retailers can gain insight into their customers’ behaviour in order to drive better conversion rates and optimize store performance,” says Mark Simpson, Retail Sales Leader for Tyco Retail Solutions South Africa
The Key benefits to retailers of knowing the who what when why and whereof your customers:
- Increased conversion rates: You know how many shoppers become buyers and how much they spend per visit and this empowers you as the retailer to adapt your strategies and drive greater profitability per store.
- Incremental sales: Armed with traffic intelligence you can analyze the impact of promotions and in-store advertising. As a result, you can optimize advertising campaigns to shopper preferences.
- Improved customer service: Having visibility to in-store peak selling times, you can maintain an ideal associate-to-shopper ratio, which ultimately enhances the in-store experience for shoppers.
- Better understanding of the business: Besides understanding the exact number of people entering your stores and making a purchase, you also have visibility to areas in your stores where shoppers spend most of their time. This means getting information to better conversion rates in particular store areas, pin pointing peak selling times, and identifying the stores with particularly high or low conversion rates.
“Tyco’s traffic intelligence solution enables retailers to stay ahead of the competition, increase conversion rates and reduce lost sales,” says Simpson. “Most importantly, retailers can track conversion rates on an hourly basis and store managers can receive real-time updates and alerts, enabling their sales force to better serve the needs of their customers.”
“Our aim is to provide retailers with real-time visibility to their inventory and assets to improve operations, optimize profitability, and create memorable shopper experiences,” says Simpson.