Data collection for observation and prediction of consumer behavior is an instrument that it is used for a long time now. Until now it has been restricted only to digital world and the outcome was useful results to be ignored related to the condition in physical shops.
This trend is starting to change because customers are better informed and demand from companies convenience, cooperation, consistency and flexible adaption to their unique, personal needs. Owners using retail analytics can now know if their marketing strategy is the appropriate and if the entrance of a customer to their shop leads to the desired result, sale.
But what is Retail Analytics and which are its practical uses? Using this method we can compare daily attendance to our shop with our sales percentage, having this way a concreate image of our success or failure. In this way businesses can optimize their products or given services as well as having a better view of their target group.
The most common types of Retail Analytics are: