Simple Retail Store Foot Traffic Data Equations that make all the Difference

When it comes to retail store foot traffic, data is essential to determine how well your store or stores are performing. And while sales might be the overwhelming favorite piece of data you collect, there are some others that deserve your attention too.

Here are a few data points you should begin tracking if you aren’t already.  

• Entries into your stores

• Visits to certain areas of your store

• Visit time at each of those locations

• Transaction counts from your shoppers

Collecting these data points doesn’t have to be hard. With most POS systems, transaction data is already provided to you. For retail store foot traffic, there are a number of solutions that make it easy to capture, organize, and analyze when and how people are engaging with your location.

With these data points collected, you can run some simple equations to determine how your shoppers are behaving in your stores. This provides you with not just activity data, but performance data as well. Here’s where to start. 

• Entries to visits - What percentage of your visitors are going to different areas of your store

• Average visit time - How long visitors are spending in each area of your store

• Entries to transactions - Conversion rates of the visitors to your store

• Visits to transactions - Which areas of the store are converting sales most often

Actively capturing these data points and applying them to the equations above set you up to truly measure and improve the performance of your stores, products, marketing, operations, and much more. 

And getting started with a retail store foot traffic analytics system that can fit your needs doesn’t have to be difficult. Follow the following steps to build your own system without a huge investment. 

1. Choose a technology

2. Set a reporting threshold

3. Prepare for analysis

4. Plan your testing

Learn more about creating a foot traffic analytics system here!