According to a recent article in Frontier Magazine, Wi-Fi The Hype?, “One of the biggest challenges travel retailers face on a day-to-day basis is the quandary of the passenger purchasing journey. Shoppers may pass by a store and decide to venture in and purchase, but the interim period between window staring, stepping foot inside, and the final transaction is not an easy thing to quantify.”
Today intelligence from multiple data sources, including video feeds, POS systems, mobile devices, staffing schedules, and more, give airport retailers the opportunity to better understand shopper behavior. By correlating Wi-Fi metrics and video feeds with RetailNext’s platform, they can now gain deeper insights into repeat and new customer visits, time spent in the store, the ‘capture rate’ (percentage of people entering the store) of passby shoppers, shopper and employee engagement, and how all of these metrics tie into sales at the register. These metrics can then be used to measure other indicators. For instance:
“Using Wi-Fi to isolate specific dwell time information (i.e., identifying that 60% of females over the age of 40 spend 15 minutes or more in the store on any given day), with heat mapping visuals, help to provide an indication of the performance of certain elements of a store based on layouts including aisles, fixtures, displays and traffic walkthrough areas.” RetailNext can also track shopper destination information, in which shopper transactions can be linked to their flight destination. “As expected,” states the article, “correlating POS data on passenger destination locations with best-selling items is a sure-fire way to assist retailers in developing shopper insight.”
CEO of RetailNext Alexei Agratchev further explains, “We are now getting aggregated data from external sources – which country are the people from [and] what they previously shopped. In airports you can see the profile and build it, correlate it to yield, to shopper and where it can be actionable.”
This information allows travel retailers to see their highest number of sales based on where these shoppers are flying. Armed with these analytics, store operators can optimize their stores for maximum efficiency. For example, they can assign staff who speak a specific language at the times when they know there will be an increase in shoppers going to or coming from a particular region.
With constraints on time, numerous languages, diverse gender and age demographics, the ability to measure and correlate data from multiple sources like video feeds and Wi-Fi enables airport retailers to deliver optimal in-store shopping experiences and ultimately increase the bottom line.