Retail in Asia

In Shops

RAE Exhibitor Highlights: Experian FootFall launches Site Analytics for the retail industry

Experian FootFall launches specialist site performance measurement software to retail industry – "Site Analytics" goes beyond traffic counting to reveal the real profit opportunity for an entire store, department, floor, or specific time period.

Experian FootFall, a market leading provider of visitor analytics, is launching Site Analytics, its new cloud-based software for retailers and mall developers. Site Analytics allows an industry facing considerable pressures to factor basic store insight, such as traffic counting and sales, as part of more holistic site and store-network performance measurement.

Winning retailers understand the industry is shifting to using traffic measurement as part of a bigger picture and forecast of site performance and opportunity. At the forefront of this shift Experian FootFall has made a significant investment in the development of Site Analytics – a software which integrates traffic figures with key retail metrics to provide clearer focus on priorities for profit maximisation and brand survival.

Metrics encapsulated by the software include traffic count, sales, labor, queue, and overall costs. The completely customisable software delivers five different types of data (actual, forecast, target, budget and validation) for each of these collection groups and even allows its users to put the data into the context of relevant promotions, weather and events. Additionally, the software proactively alerts key users when key data (like traffic or sales conversion) falls outside of pre-defined and customisable thresholds.

Examples of typical queries to which Site Analytics provides answers include:

  • How is the staff-to-visitor ratio affecting sales for a particular floor?
  • As costs rise for a particular department, is the same happening for sales and average transaction values?
  • Is this performance typical for a floor, department or retail cluster in our business, if not what is the financial implication and how can we rectify it?
  • How does average transaction value fluctuate as site traffic rises and at what point does the cost of adding more labor outweigh the financial gain?
  • What is the pattern of queue wait times throughout the day and how does this impact conversion?

Key to the Site Analytics is the ability for retailers to forecast performance in their stores. Properly integrated with other key metrics, forecasting becomes a very powerful tool for effectively running the business and driving performance. By using historical data to predict what could happen tomorrow, next week or next month, retailers can more accurately plan operational aspects of the store like staffing, sales and promotions, inventory levels and even store design.

Site Analytics allows clients to seamlessly access data anytime, from virtually any location. Fully flexible, the system allows retailers to customise and view real-time performance data in any number of ways, including by interactive PDF, through a web browser, or via mobile phone. Through this software, retailers can also receive customised alerts via web browser, email or SMS, providing immediate access to a wealth of information, helping ensure peace of mind.

A cloud-based system, Site Analytics – software is stored in a certified secure data center by Experian, protecting the retailer’s critical data with the highest level of security.

Properly implemented, Site Analytics provides a myriad benefits to retailers, including:

  • Improving store profitability
  • Improving conversion rate
  • Accurately identifying the optimum ratio of staff to customers, ultimately improving customer service
  • Tracking the effectiveness of marketing campaigns
  • Streamlining operations in every inch of the store
  • Unlocking latent store potential

Experian FootFall will showcase Site Analytics at Retail Asia Expo 2012 in Hong Kong, 12-14 June at Stand L16.