Foot traffic and conversion are two often-overlooked metrics in retail. The reality is that your store revenue is entirely determined by how many customers walk in and make purchases.
In the past, most traffic counting solutions have been expensive, inaccurate, or sometimes both. Only “the big guys” could afford to implement accurate foot traffic tracking tech and benefit from the insights that came from analyzing foot traffic patterns, sales, and dwell locations.
That all changed this week when our partner Swarm introduced Portal – the latest addition to their portfolio of smart devices. Portal makes it easy for store owners to measure foot traffic, and with its easy integration with Vend, conversion rates (percent of total foot traffic that resulted in a purchase). Portal is also priced to be affordable for small and medium business owners to implement, which means the insights of the big guys are now available to mom-and-pop retailers. We’re very excited about this!
Here are three ways measuring foot traffic can help grow your business:
- Understand if you’re getting all the sales you should be by comparing sales results to the traffic opportunity in your store
- Help you schedule staff better by knowing exactly when your store is full of customers and when it might be slow
- Know if your training, merchandising and advertising efforts are making a difference by watching their impact in real-time
If you were going to do an elevator pitch for Portal, it might sound like this:
“Portal is a sleek, wireless device that sticks to the wall near your store’s entrance. It counts shoppers entering your store with over 95% accuracy, syncs over Bluetooth, and delivers beautiful reporting to a web dashboard and app.”
Portal is available from participating Vend Experts and directly from Swarm.
About Austin Gunter
Austin helps run the North American marketing efforts for Vend. Growing up around his family's Honey Farm and store in Texas, he has a passion for small business in his DNA. Austin is a writer, a traveler, and a live-music lover. Ask him what he's reading this week!