From retail analytics to Walkbase analytics

Tuomas Wuoti

From Retail Analytics to Walkbase analytics

Retail analytics is by no means a new invention. Especially large retailers have been fine-tuning their businesses for years on the basis of the data of their customers' shopping behaviour. Store layouts, staffing, marketing campaigns etc. have been perfected based on heavy statistical analysis of e.g. door counters, loyalty programmes and transaction data.

However, this approach suffers from a few weaknesses. First, the traditional data sources are limited to point-of-sale data and door counters, while expensive, one-off in-store studies are set aside. In online channels, the continuous analysis of alternative paths to purchase has proven to be an extremely valuable tool for supporting customers' decision-making and driving more sales.

Currently, the physical stores are blindfolded when trying to understand what actually happens during the customer's store visit. Second, the current way requires a tailored and often very expensive approach to data analysis, making it slow to react to changes and often unattainable for specialty retail. In the e-channel, sophisticated, easily deployed and inexpensive tools for data collection and analysis are readily available for everyone. In the physical world, in-store analytics is answering to this call.

SEE ALSO: Technology fundamentals of in-store personalisation

The key to understanding the paths of purchase better lies in identifying the customers' in-store behavior in more detail, i.e. tracking the percentage of the passer-by traffic that enters the store, average length of the visit, the physical paths within the store and frequency of repeat visits.

Walkbase analytics for in-store environments

Walkbase Analytics empowers retailers to make data-driven decisions and to adapt to the best in-store sales performance and loyalty. By utilizing precise store-by-store metrics, retailers are able to understand patterns and adjust them accordingly.

Today, e-commerce sites have gathered an unmatched level of knowledge of their customers’ buying patterns and use that data to optimize the shopping experience. Walkbase Analytics brings the same measurability to bricks-and-mortar. Retailers can turn the page and attain the next level of the unique physical experience in store environments.

Learn more about Walkbase Analytics.

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Walkbase provides a retail analytics solution for improving the impact of marketing on physical stores and personalising in-store shopping experience.