Bulletproof experiments in retail spaces

As part of our series on how organizations can lead their store optimization projects to success, we will now explore how to run experiments and validate their results. Innovate or perish A retailer who is doing a great job selling might ask himself: why do I need to experiment when the business is prospering? While »

Hidden advantages of in-store retail analytics solutions

With the exponential progress of electronic technology and machine learning computer vision algorithms, the price of retail analytics solutions becomes lower and lower. However, the underlying cost of the sensors (cameras) and algorithms is still so high that only the most profitable and clairvoyant retailers use them. It will always be the case that the »

Bust retail queue times using StoreDNA

Nobody likes to wait. In retail spaces, waiting (and queuing) arise when demand surpasses supply: the demand of shoppers to pay for bought items surpasses the number of staffers working at checkouts the demand of shoppers looking to try on clothes surpasses the amount of changing rooms they can intuitively find inside the store the »

How to measure shopper product engagement

Of all the shopper funnel steps, product engagement is the one in which the product is under the brightest spotlight. If the goal of shopping is to buy a product then product engagement is a very important step in the shopper-product relation because it is the products only opportunity to shine and impress the shopper. »

Retail Bounce Rate

Bounce rate is a metric traditional for web analytics and new in the context of physical retail stores. Google Analytics defines bounce rate as "a single-page session on a website". However, in retail stores, there are no pages nor sessions, but there are footfall and shopping time. Unlike the online world where visiting and leaving »

Measuring store window effectiveness

Store windows or shop windows are parts of stores used primarily to convince people to enter the store. However, they have different functions: 1. Notify about promotions/sales inside the store 2. Display and emphasize certain, often new, products 3. Showcase the current fashion trends with products that can be found in the store 4. »

Retail staff optimization using Monolith Actionboard

Various industries, various staff roles, but one thing is for certain: having the right number and profile of staff workers in your store will help increase sales KPIs: conversion, average sell price and average units per transaction. Good staff optimization helps solve the problem of staff idle times and overstaffing which reduces operational costs and »

Introducing AIMs: Optimise staff, assortment and space

Periodic system of retail performance elements (Actionable Insights Maps) There are many definitions of shopping. The most common description says that Shopping is an activity in which a customer browses the available goods or services presented by one or more retailers with the intent to purchase a suitable selection of them. In some contexts, it »

The death of the automotive retail. Not yet.

"Ten years from now, all car dealerships will be closed." "The Death of traditional automotive retailing" "Automotive retail is simple: go digital or go bust" If you are an automotive professional, you have stumbled upon these headlines lately more than ever. It seems that everybody is predicting the slow and painful death of traditional car »