- Location dictates so much of what matters in the world of retail. Retail properties seek to maximize revenue through leasing return, visitor spend, managed operations, commercialization, and marketing events.
- To date, no solution has allowed retail stakeholders to harness the full potential of locationing services to track effectiveness.
- Before now, mall owners and retail property managers have been left in the dark when it comes to tracking and gathering information on visitor location, time spent, loyalty and journey.
Understand the Visitor Experience in ways never before possible
Customer movement. Leveraging the commercial marketing package, operators receive a description of footfall, dwell time and category spend. Customer spend data is dependent on declaration, which may be limited to only certain categories or a percentage of all sales. Retail Managers look to optimise rates through managed operations, such as parking or through advertising space, and marketing events can attract hordes of customers, but tracking movement and spend is rather limited.
Getting accurate visitor metrics is very difficult
Dwell time and other insights. Mall operators use a variety of methods to get their visitor metrics today. Industry statistics are provided via Cushman & Wakefield information, but this is not defensible nor actual. Counters that use video or infrared to count visitors can’t determine new or returning visitors, measure dwell time, or provide insights into a visitor’s journey. Many mall operators utilise surveys that cover a small fraction of the visitors, and often don’t even account for actual shoppers.
Sampling via W-Fi. Wi-Fi-only solutions provide a platform for data gathering, but miss anyone that does not have Wi-Fi enabled on their device and cannot determine visitor journey. At best, these systems measure only a fraction of visitors and rely on statistical assumptions and “scaling” of numbers to come to conclusions — which (again) are not particularly accurate, and leave the property owners struggling to eek every penny out of every square foot of their mall.
Current Data Collection
Inpixon Indoor Positioning Analytics for Retail Properties
Inpixon Indoor Positioning Analytics (IPA) for Retail Properties also uses the signals emitted by mobile devices to gather the information for its metrics. But unlike other systems, it is not limited to Wi-Fi (around 30% – 40% of devices) or Bluetooth (less than 10%). Rather it uses Wi-Fi, Bluetooth (full Bluetooth, not just BLE) and cellular (100% of cellular phones) to develop a much more complete and accurate picture of a mall’s occupants. Furthermore, with Inpixon IPA’s patented technology, property owners can, for the first time truly and definitely answer the “who, what, where, when and how” questions they’ve been trying to for nearly a century.
Inpixon IPA Offers
- Highly accurate visitor counts based on 90-99% sample sets taken 24 hours a day, 7 days a week. No duplicate counting of the same person, no miscounting of dogs, strollers, carts, and other non-people.
- Proven through sensitive top agency government deployments, Inpixon IPA has the ability to anonymously count and continuously measure individual behavior within an area even if their phone uses privacy techniques such as MAC address rotation
- Location and continuous monitoring of visitor journey within the property accurate within 3 meters (<10 feet)
- The ability to distinguish between employees and visitors
- Real-time, continuous monitoring and DVR playback
- Accurate, in-depth reporting on difficult-to-obtain retail property KPIs such as dwell (how long), visitor journey (horizontal and vertical), storefront affinity (relationship between multiple stores), visit frequency (how often), and even views of things like display windows and in-mall advertising.
- The ability to create “hot zones” that can trigger alerts to employees, change an ad when someone passes a display, or even trigger app-based behaviors such as coupon delivery on a visitor’s phone.
- The ability generate new insights based on multiple inputs such as phone activity, customer behavior, POS data, staffing data, etc. (e.g., “do iPhone owners spend more or less than Android owners?” “Does walking speed indicate a visitor’s intent?” etc.)
Inpixon IPA Benefits
The most accurate visitor counts possible — 90—95% certainty.
Continuous 24/7 monitoring and measuring throughout the entire property to give a complete view of mall operations (again, no “scaling” or in-filling gaps with made up data) by sub-hour, day, week, month, year etc.
Understand “true” visitor journey throughout your property — which storefronts are most popular, which share the most visitors, what areas of the mall create bottlenecks or are left unused and more.
True visitor location (where a person is), rather than proximity (how close a person is to a thing) that tells you how many people really saw a sign, or passed by a kiosk or display window rather than simply how many people were around it (but couldn’t see it).
Connect Inpixon IPA’s zone-based triggers to 3rd party apps, digital display, staffing, security alerts, etc. to offer location-based services, product offers, open more check stands or offer customer assistance, employee staffing, security controls, etc.
Add detailed visitor behaviour in physical spaces to digital data such as point of sale info, social media “likes”, app-based information, etc. to get a true 360-degree view of your property.
Understand their customer
- Not simply to keep up with online
- leverage the inherent advantages of a physical store
- Using technology to deliver a superior shopping experience
Return on Investment
- Understand which marketing activity really contributes to footfall and loyalty
- Measure each marketing event and promotion effectiveness
- Uplift media board rental
Leasing and Asset Management
- Report top and bottom ten retailers by traffic
- understand synergy of each brand
- understand appeal and use of trophy stores
- uplift rent, defend rent concessions validate terms
Validate and Adjust Media Rent
- Differentiated and dynamic advertising pricing
- Quantify exposure to the advertising
- Quantify advertising conversion & ROI
- Advertisers pay for results