Why it literally Pays to track your Foot Traffic and Occupancy

Whether your location has variable traffic patterns like a grocery store or retail, or more predictive and repetitive trends like an office building or event space, it can benefit your bottom-line to better understand the entries, exits, and overall occupancy of your space.

With advancements in foot traffic analytics and counting technologies (learn more about them here), it’s never been easier to outfit your location or individual spaces to obtain this data. And with a system in space, you can quickly begin to adapt to changes in your foot traffic and see improvements to your bottom-line.

Here are just a few areas where tracking occupancy and testing new variables can help you learn about your foot traffic and improve your operation.

Energy usage and control - With many operations spanning multiple rooms, floors, or buildings, it’s important to know when and how those spaces are occupied for many reasons. One of the biggest is to control energy usage. With a better understanding of occupancy in and throughout your spaces, you can better predict and control how and when to turn on lights or adjust your HVAC in a building, on a floor, or by a room-by-room basis.

Product testing - If your location or space is consumer-facing and welcomes visitors in to check out or purchase products, it can greatly benefit your operation to track how different product releases or features affect traffic into and throughout your space. These numbers can be tracked and compared to give you a good idea how products are performing, especially when compared to your conversion rates. Learn more about A/B testing your space here.

Sales and Specials - Slightly separate from tracking product performance, tracking the occupancy of your consumer-facing space can also speak to the effect of messaging and marketing of sales, specials, holidays and more. For the most part, traffic = sales, so the more the better. Investing in the ability to identify what’s working to increase traffic can improve your bottom-line.

Staffing - As your occupancy counts fluctuate, so do the need for custodial, support, service, and managerial representatives. A better understanding of your traffic trends can help you make the most of your human resources, ensuring your visitors are serviced but also that you’re not paying people to stand around.

Resources - Like staffing, resource allocation will be highly correlative to traffic and occupancy in your space. From product orders in retail and grocery stores to cleaning supplies in offices and commercial spaces, resource purchases and allocation based on historic occupancy are a benefit to your bottom-line.

If foot traffic or occupancy in your space affects your bottom-line through increased revenues or costs, it can benefit you to have a better grasp on your occupancy analytics. With a deeper understanding of your foot traffic analytics, you can open up a number of opportunities to leverage that data to improve your operation.

Learn more about how Scanalytics makes it easy for retailers to capture foot traffic data and more to improve their bottom-line and market-share.