Optimize your Shoppers, Staff and Strategies to increase Conversions

Most industries, specifically manufacturing, logistics, retail (both offline and online) and DooH, are all experiencing a paradigm shift in recent times. Whether it’s the Y-generation swamping the shopping trends or whether its SAAS players changing the supply chain matrix or the government introducing new legislation around the environment - the competitive edge for all business owners like you is about knowing your customers better and taking a data-driven smart approach.

With more dominance of e-commerce and rising popularity in mobile as a significant channel has forced the retailers to face robust economic conditions. Now a retailer must monitor reports to calculate the performance of the business from sales, stock control, merchandising and staffing successfully. They no longer can overlook the shoppers. One of the major brands who is creating an impact in this space is MintM. With MintM you get the most accurate systems into crowd counting, crowd measurement and crowd profiling. MintM solution can help your company perform crowd measurements using picture videos and assist you in making data-driven smart decisions. It also provides data-driven systems into digital signage audience measurement which allows your company to measure the audience and their attention span to improve customer experience. This allows your organization to track your visitor’s overall audience experience. Customer counter, footfall counter and retail analytics software solutions can also go a long way if you own multiple outlets. It allows you to get more than 96% accurate in-store visitor data with AI-powered Footfall Counting and retail analytics software further allowing you in making analytics-based operational changes. MintM specializes in human counter applications used for crowd counting, people counting and for visitor counting and moreover all this is possible on existing cameras. This technological development also enables in calculating accurate conversion rates via unequal data sources. Insights garnered from conversion rates are the most critical data a retailer can acquire and use to improve store performance.

Retailers can now not only count shoppers as they enter, exit and move around in the layout through customer counting system but are also able to Combine this with the date and time to analyse business operations with much better clarity. Analytics allows retailers to study consumer behaviour and understand their buying patterns. People Counting platforms enables counting data across various platforms and combines it with the sales data to provide Conversation Rates. Overall you can verify:

●    The best times for their specific shopper groups

●    Popular entry points

●    Most performing Outlets

●    Seasonality pattern based on shopper count

●    Effects of channels like promotions, competition, weather and holidays

●    Conversion hotspots from browser to buyer

Firms must implement People Counting and Conversion to measure the store performance on an on-going basis to constantly classify areas for improvement. Also on the other end, it has become increasingly important for businesses to use automated inventory management solutions to not only stay competitive but also to make forecasting easy for supplies.  In today's world, tracking and managing inventory is a crucial aspect for any retail business - offline or online. If you automate inventory, you are saving not only time but reducing the human intervention as well. Cost reduction and time-saving are major reasons why inventory management is crucial for businesses. From the point of view of the customer, efficient inventory management ensures better customer service with low shipping charges and fast delivery.  Automated inventory management solution using barcode scanning allows for controlling the costs, syncing stocks under multiple sales channels, improving the quality of delivery, measuring accurate inventory levels and saving time. With MintM you get the most accurate systems into inventory counting services and label reading. Business owners can scan barcodes with their smartphone in real-time and the software uses computer vision and AI to perform all the counting and reading services. So MintM can not only help you with their most advanced people counting system and digital counting software solution but also assist you with keeping a real-time track of all your inventory.

Sources and References:

1. https://v-count.com/solutions/people-counting/
2. https://www.estuate.com/company/blog/retail-analytics-top-5-reasons-you-need-it-2019
3. https://www.xpandretail.com/importance-of-people-counting/
4. https://saara.io/blog/reasons-why-you-need-to-automate-inventory-management/
5. https://www.mintm.com/faster-manufacturing-logistics/instant-label-reading/
6. https://www.mintm.com/people-counting-system/
7. https://www.mintm.com/smart-retail/footfall-counting-system/