• When it comes to customer loyalty, is the store keeping pace with online?

    In the omnichannel retail environment, where digital and physical channels are interconnected, the consumer is spoilt for choice with where, how and with whom they shop. And their expectations across these channels continue to rise.

    This has made securing customer loyalty significantly more challenging for retailers. Market competition is intense, and even a single bad experience can be enough to push regular shoppers towards competitors.

    In order to cultivate customer longevity in this highly competitive environment, the retail loyalty market has exploded. In fact, market research forecasts that loyalty management spend will surpass $4.5 billion by 2021, according to ABI research.

    But while investment is increasing, many retailers are finding their loyalty schemes are more effective in nurturing customer retention and spend online than ….

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  • How can retailers understand in-store shoppers as well as they do online shoppers?

    In the world of online shopping, it’s relatively easy to track and analyse customer behaviour, as every action is digitally logged. Retailers will know who has shopped and where, how long they browsed the site, what they purchased, and whether they redeemed a marketing offer or collected loyalty points.

    Back in the physical store, however, the same shopper will browse and buy with relative anonymity. Much less is known about in-store shoppers by store associates – and this makes it much more difficult to personalise purchasing journeys.

    Retailers urgently need ways to gather the same in-depth insights online and offline, if they want to optimise the customer experience. Now is the time to stop guessing what in-store behaviour patterns look like, and start knowing how consumers shop.

    In order to understand bricks-and-mortar shoppers in greater depth, many retailers are implementing location-based analytics across their store estate. ….

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  • IoT update: how are retailers successfully implementing connected technologies in the physical store?

    As digital-loving consumers clamour for more and more connectivity in their lives, the concept of the Internet of Things (IoT) is gathering momentum among innovative retailers. Shoppers want convenient access to personalised products, services and information, 24/7.

    In response, Juniper Research forecasts that merchants will spend $2.5 billion on IoT technologies by 2020. In fact, many retailers are already leveraging business intelligence solutions in their operations to better understand consumer behaviour and optimise the customer experience. For instance, retail traffic insights can be used to improve checkout times, store layout, and shopper-to-associate ratios.

    And as a greater number of connected technologies reach the market, new opportunities arise for retailers to enhance or reshape the customer experience. As Forbes journalist, Barbara Thau, concludes in a recent ….

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  • Key trends in the Middle East retail market: an interview with market specialist, Nicolas Rubeiz

    The Middle East is a fast-growing international opportunity for retailers, with the market set to be worth Dh200 billion by the end of 2017, according to the Dubai Chamber of Commerce and Industry.

    However, tapping into this lucrative part of the world involves an in-depth understanding of consumer behaviour, in-store and beyond. To help retail businesses develop their strategy for the Middle East consumer, ShopperTrak caught up with Nicolas Rubeiz, Senior Consultant at The Unit, to discuss regional trends and market entry strategies.

    Why do you think an increasing number of international retailers are targeting the Middle East?

    The profile of the Middle East as an attractive new market opportunity has risen considerably in recent years through a combination of factors. The most important is probably the demographic structure – right now there’s a very high birth rate and a young ….

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  • ShopperTrak commentary for w/c 20th February

    ShopperTrak Retail Index – UK National Weekly:
    Change for week 8 (20th February 2017 – 26th February 2017): -7.6%
    Change for week 8 Year-on-Year: -1.8%

    ShopperTrak Retail Index – Retail Park Weekly:
    Change for week 8 (20th February 2017 – 26th February 2017): -1.0%
    Change for week 8 Year-on-Year: +0.1%

    Commentary

    The ShopperTrak National Retail Index is reporting an increase Week-on-Week of -7.6% and a decrease of -1.8% Year-on-Year.  The weekend showed a decrease of -7.6% Year-on-Year, while the Year-to-Date trend reports -3.2% compared to the previous week. Furthermore, the figure recorded is worse than last year, at -2.1%.

    Only two regions realised a Year-on-Year increase, South West and Wales and Yorkshire Humber of +9.5% and +6.4% respectively. The East Midlands saw the highest decrease of -7.6%, followed by Scotland ….

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  • The advantage of customer insight: discover more with ShopperTrak at EuroShop 2017

    Following the acquisition of ShopperTrak by Tyco Retail Solutions, an unprecedented understanding of in-store shoppers is now available through the combined forces of ShopperTrak and TRS.

    To find out what’s in store, visit our stand at EuroShop 2017, which takes place in Dusseldorf, Germany on 5-9 March.

    Come find us in the Retail Technology section, where we’ll be showcasing our leading-edge people counting solution and analytics platform. Here, you can meet with our experts in person, and engage with a wealth of insightful first-hand demonstrations:

    Traffic Insight Solutions demos:

    • Our Global Index demo uses ShopperTrak’s global traffic data to generate a powerful new index that benchmarks individual store performance against the competition – both across countries and territories and down to ….
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