What is retail business without analytics?
No matter how unrealistic it sounds, brick-and-mortar stores without analytics are nothing but showrooming platforms; at least the modern tech-savvy group of audience sees it this way. They simply come to the retail stores, check out the products of their preference, do price comparison online and place the order on the preferred website. What is left for the store? They only have the option to be happy with footfall rate, while their ecommerce counterparts enjoy the conversion.
Brick-and-mortar retail businesses, if have to survive the tough competition from retail ecommerce sites, should implement mobile analytics, in-store. How does the implementation, rather the effort for implementation can or has become a game changer?
- The results of mobile analytics are immediate deliverables, quite in contrast to desktop analytics that are often time consuming
- Mobile analytics directly addresses the audience by putting the correct information at the right place, only to produce the biggest impact
- Even untrained in-store employees don’t encounter any problem while using the analytics in order to generate true value out of data
- Mobile analytics is much more specific and relevant to the context (doesn’t result in confusion, a common problem with desktop analytics, thanks to its extensiveness)
In Which Ways Mobile Analytics is making the difference
The journey of retail stores, from static brick-and-mortar setting to omni-channel platform, owes a great deal to mobile analytics. In several ways analytics has made the difference and we will try to reflect on each of those.
- Seamless Access to Valuable Insights: Mobile analytics lets store personnel to carry valuable information with them. They can simply take a look at their mobile devices and let customers know about product availability, inventory status, accurate location of the product and draw customer attention immediately by mentioning real-time offers. Save customers from frustrating out-of-stock experience and in turn, demonstrate the capacity to deliver top-class customer assistance.
- Update New Price Modules Automatically: Implement the new price modules, in case of change, automatically by updating the BI system. The POS system will respond according to the changed price and not to the previous one.
- Future Ready: Future readiness is something that mobile analytics has perfected. Campaign strategists can now receive updates about forthcoming promotions and accordingly they will be able to keep their inventory ready to meet customer demand. With mobile analytics, time bound updates about KPIs is history, because real-time insights will make decision making more realistic and goal oriented, even on the go. They will also be able to keep a close watch over fast and slow selling products, real-time.
- Analytics Whenever You Want: Mobile analytics has made is simple for campaign strategists and store managers to access valuable insights anytime, anywhere. Based on the real-time results, they can take the necessary decisions, be it in terms of customer management, campaign management or inventory control.
- Dynamic In-store Experience, Matching Context: The modern customers want dynamic shopping experience while they are in-store. While desktop analytics fails to help, mobile analytics delivers customers with real-time, immersive details, helping store personnel with a more positive position with turning footfalls into conversions.
- Perfecting Staff Deployment Plan: Mobile analytics relieves store managers from arranging staff deployment within the store instinctively. Based on real-time data, now they can reassign workforce as per store traffic at different locations of the store during different phases of the day. Later they can also check out the way store performed due to such changes and plan accordingly for improvement.