Peak seasons present a great opportunity for retail outlets like jewelry stores to gather valuable information on customer buying preferences that drive sales.
Unfortunately, many of them do not count customer foot traffic in their store either because they don’t understand it’s benefits, or because they lack the proper equipment and knowhow to do so.
Harnessed the right way, people counting software can help businesses understand traffic patterns, improve operational efficiency, and drive up sales contributing to overall business growth.
Read on to learn how counting foot traffic can revolutionize your jewelry business.
Optimizing Staff Scheduling
Without accurate customer trend information, scheduling staff can be a nightmare. It can lead to poor utilization of labor on the shop floor and lost sales opportunities. But with the right people counting information you can allocate adequate personnel at peak times ensuring customers enjoy a one-on-one shopping experience.
Optimized staffing based on accurate foot fall data helps create a more engaged work force, which improves customer service and ultimately increases loyalty. Leveraging the power of in-store data goes beyond achieving a better customer-to-staff ratio; it can do wonders for your conversion rates and boost your overall store performance.
Improving Customer Experience
How your business engages with customers during their buying journey can be a key differentiator in sales performance. A positive customer experience can lead to more satisfaction, loyalty, and referrals, resulting in greater sales opportunities.
Customer foot fall data can help you identify shoppers’ buying habits and provide other equally important insights on how to enhance their in-store experience. For example, you can use a people counting system to track the Average Transaction Value in your jewelry store.
This metric calculates how much your customers spend on average for each transaction, and is important in analyzing customer buying habits. It can shed light on the effectiveness of your sales, marketing, and pricing strategies and help identify any upselling opportunities.
Measuring Conversion Rates
How effectively your jewelry store converts visitors into paying customers can make or break your business. You can measure this crucial metric by linking a people counter to your point of sales and track your store performance in real time.
This is how you can interpret the results:
- High foot fall and high conversion rate: signifies a high performing store, with good customer service and effective marketing that delivers on both visits and sales.
- High foot fall and low conversion rate: indicates you’re pulling customers, but struggling to convert them into buyers. The problem could be pricing, product assortment, or customer service.
- Low foot fall and high conversion rate: the jewelry store is good at converting visitors into buyers, but needs more marketing exposure to attract more foot traffic.
- Low foot fall and low conversion rate: this is an indictment of the overall store performance. It means you need an overhaul of your store’s business approach, from store layout and customer engagement, to branding and marketing strategies.
Measuring and Improving Marketing Efforts
Spending money, time and effort on marketing campaigns, without the right data to evaluate your ROI is a risky strategy that can lead to failure. A jewelry store people counter can take the guesswork out of your marketing efforts by correlating foot traffic trends with promotional initiatives.
For instance, you could measure foot traffic before and after the launch of newly arrived engagement rings to gauge whether your recent FaceBook campaign was a success. You can also use foot fall data to tell if one marketing strategy is more effective than the other; for example, comparing the impact of an in-store promotional event versus a personalized email campaign.
Counting foot traffic provides a data driven marketing approach that helps you rationalize ad spend and carry out promotions more sustainably.
Optimizing Store Layout
A customer’s first impression of your jewelry shop can influence their decision to walk in, or walk past, to stick around and buy an item, or look for merchandize elsewhere.
Having a well-planned store layout that eases movement encourages visitors to browse more of your products and make a purchase. It also maximizes the use of space and improves the store’s overall operational efficiency.
By reviewing foot traffic patterns you can find out which section of your store customers like to spend time, and use the information to strategically position your merchandize and optimize customer flow.
One way you can leverage foot fall data is through visual merchandizing to draw customers into sections where there’s less foot traffic. For instance, you could create visually appealing displays to showcase your jewelry more effectively, drawing more attention to them, and prompting impulse purchases.
Testing and Iterating
Store layout is always a work in progress that needs continuous testing and iteration. As a jewelry merchant looking to improve on this aspect, you can collect foot traffic data and combine it with customer feedback to get insights into better store arrangement. Keep in mind a smaller store with an organized layout can be more profitable than a larger store that’s poorly arranged.
Analyzing the amount of time customers spend in the store, also known as dwell time, can help retailers get a fresh perspective on customer engagement and point out more aspects of the store’s operations that can be improved, especially layout.
Dwell time can be calculated using bi-directional foot traffic data combined with information on store’s average occupancy during a certain period. This in turn can help identify zones that have the shortest and longest dwell times, also known as hot and cold spots – information that can be used to guide decisions on the store’s layout.
How people counting systems can measure dwell time:
- Video counting – Can measure dwell time and create heat maps of popular zones.
- Smartphone counting – Can measure dwell times, monitor people and inform you inform you on returning customers.
- 3D sensors – Can provide measure dwell times in real time within a specific area.
- Wi-Fi people counting- Can offer in-depth data on visitor patterns and dwell times.
- Bluetooth Counting – Can measure time in-store using blue tooth technology.
Elevate Your Jewelry Store Through People Counting
Accurate foot traffic data is the cornerstone of retail analytics, including businesses like jewelry stores. By leveraging people counting technology retailers in this segment have an opportunity to enhance customer in-store experiences and make informed marketing strategies.
Storetraffic offers a diverse range of people counting solutions that improve customer tracking, optimize operations and drive more sales.
Contact the Storetraffic team today for a free demo.
