Footfall analytics doesn’t limit to the real-time counting of people passing in any direction, but it provides retailers with other helpful insights to improving overall performance. For instances, it monitors queue management, as it can track how many visitors or customers are standing at a queue and deploy real-time push notification to the employees.
The biggest advantage retailers have by leveraging prescriptive analytics is to ensure in-stock visibility. The ability to have a single view of inventory is a critical starting point and a major priority for retailers.
Retailer stores on the other hand have built stronger relationships with their customer by providing immediate customer service in-store. Having the right person at the right time to close the deal has enabled retailers to close massive deals and increase conversion and repeat purchase.
The RFID technology has replaced barcoding systems in the recent years. If you are a mediocre or a large scaled business, you know exactly how time-consuming and expensive inventory management is in the recent years RFID has been excessively used to solve serious business challenges that the retailers and manufacture face.
In 2018 retailers will have to adopt emerging technologies which will bridge the gap between the physical and digital worlds. Hand-held devices have gained importance over the year, exploiting this technology will benefit retailer as stores also evolving by incorporating IoT devices.
Today the demand for inventory solutions continues to increase and with the progression of technologies, more and more sophisticated solutions are introduced, which influences the cost of the product and increase profitability.
Artificial Intelligence has enhanced the people counting solutions as the retailer has the accurate people flow in-store and minimizes the error to perfect customer detection and track entire customer journeys.
Many organizations have implemented the Hands-Free RFID Technology due to its multiple uses, as it enables Real Time Location Tracking of asset or resources for scheduling and maintenance purpose, measuring employee efficiency and customer tracking.
Analytics provides greater insights to the retailer regarding shrinkage, as the manager is able to access information on an employee on duty, shoplifting time, pattern and shoplifting prone areas. Based on the analytics retailer can take proactive steps to train employees to have a tighter observation in certain areas.