First-of-its kind metric enables retailers to understand their competitive position versus surrounding stores
Kepler Analytics, the in-store traffic analytics provider that’s challenging the way retailers think about people counting, introduced a new metric to its Exterior Traffic Toolkit today, Surrounding Active Shoppers. The disruptive metric allows retailers to measure and grow their share of active shoppers headed into their stores compared to their competition.
Surrounding Active Shoppers enables retailers to calculate their share of traffic in stores within a 150-foot radius. Retailers can understand the total traffic opportunity for the store and view how many shoppers are captured and converted into their stores relative to nearby competitors. When combined with other metrics in Kepler’s Exterior Traffic Toolkit, including Passer-by Traffic and Shopfront Conversion, retailers have a clear picture of how they are attracting and converting potential shoppers.
“Research shows 30 percent of shoppers make unplanned purchases and store visits during each shopping trip,” said Tom Gleeson, CEO of Kepler Analytics. “This leaves a huge opportunity for retailers to win discretionary spend. The Surrounding Active Shoppers metric allows retailers, for the first time, to truly understand and capitalize on the total audience of their stores, and understand their competitive position.”
Key benefits of the metric, include:
- Increased store accountability – calculate how much is lost or gained due to surrounding competitive activity
- Ability to evaluate strategic decisions – understand the competitiveness of current retail strategies, and test different store formats and retail experiences. Prioritize investments based on which stores, store types or regions are increasing or decreasing their longer-term market share.
- Obtain real-time feedback – inform day-to-day store tactics, marketing, visual merchandising and promotions
- Understand the holistic shopper journey – combine the Surrounding Active Shoppers metric with existing store traffic KPIs to get a full picture of store performance and where customers are dropping off during the shopper journey
Surrounding Store Traffic is gathered and powered by Kepler’s revolutionary smart sensor which uses the ‘Radio Frequency Density’ output from smart phones without identifying the phone or the person. The technology does not capture any personal identifiable information, so there are no privacy concerns.
Read More: SalesTechStar Interview with Bob Moore, Co-Founder and CEO at Crossbeam