RetailRetail TechnologiesUdentify

The Importance of Conversion Rate to Retailers

People counting sensors help businesses measure the number of customers who visit their physical stores or offices each day. Territory analytics data show how visitors move around the space, the parts people visit most, the products they interact with, and the average number of minutes spent in each space. Queue management shows how much time each customer spends at the checkout. These technologies provide raw data, but are useless without proper interpretation. One of the most important parameters is conversion rate in local retail stores. 

A retail store’s conversion rate measures the proportion of visitors that purchase in any given store.

The primary goal of any retail store is to boost sales conversion rates, considering how important this parameter is, many retail store managers want to take advantage of this parameter. Therefore, some methods are used. Without people counting devices, they used some primitive counting methods, such as having the security guard at the door count the customers entering.

Fortunately, thanks to technology, devices are now making these counts. This innovation has provided great convenience. They are able to calculate the conversion rate. But many of the retail stores use these counts only at their doorways. In other words, they can only calculate and rate the number of customers coming to the store and the number of receipts. However, as everyone knows, a customer visits many products in the store and buys some of these products and leaves the store. Well, wouldn’t it be a more accurate measurement if we could compare the number of people who are interested in product A in a store to the number of people who buy product A?

It is a fact  that conversion rate is a basic need of a retailer. We wanted to take it to the next level. Something revolutionary was necessary to provide you with the most accurate possible information. The Udentify localization engine is now available. To do so, we had to think about every Udentify code. You can now measure the conversion rate of every square meter of your store the way you’ve always wanted. You can also make the appropriate investments in the appropriate departments.

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