Retailers usually pay heed to the customers who walk into their stores. But what about those who walk out? What about those who put down products they once picked up?
Whether it’s walking out of the store or walking away from the products that the visitors were considering, the retailers must analyse the reason behind this abandonment of the store or product. RadioLocus, with its preeminent technology; can tap into this important section of data that the retailers are otherwise missing.
Let’s talk numbers
On an overall level; say you might be able to convert 20% of visitors into buyers. And if you look into the conversion rate of different departments or product categories you will be able to increase or decrease the inventory of those products.
But, when it comes to truly measuring and improving in-store service, you should be able to tap into information about the rest 80% who do not buy. What is deterring them? How could you improve your service to those 80% of visitors who do not buy? Where do the gaps in your in-store service lie for those shoppers?
With RadioLocus you now know what those individuals are doing in your store. How those individuals are interacting with your products and also if there is a part of those individuals you are not able to engage with your service at all and as a result, they are leaving rather immediately after entering your store. RadioLocus helps you determine all of this information on product and store walk-outs thus enabling you to work on targeting these visitors and converting them from walk-outs to buyers to returning customers.
Retailers could indulge in some practices to persuade them into purchasing an item. It could be a staff member talking about the products on sale, or giving them a coupon on their current purchase of a certain amount.
RadioLocus, with its never-like-before technology, ensures the capture of this walk-out data thus opening up a new avenue for retailers to focus on; while strategizing their sales and advertising tactic for one store or across all stores.