Company News • 24.05.2015
Technology and the changing face of „retailtainment“
See the big picture with retail analytics
As society becomes increasingly experience-driven, the shopping centre industry finds itself redefining its offering to keep up with demands and requirements.
‘Retailtainment’, a term first used in 1999 by American Sociologist George Ritzer, seems to be more important than ever.
The shopping centre experience can greatly benefit from integrating interactive and digital technology. Increasing such offerings is believed to draw more visitors, as it provides a greater number of reasons to visit a destination. Offering a wide selection of catering, leisure and retail options is crucial within the process of attracting visitors. That is why measuring the effectiveness of any retailtainment initiative is vital.
Retail analytics from ShopperTrak give shopping centre owners complete visibility over where their shoppers go, which paths are most frequently used and how long the shopping experience lasts. By mapping perimeter and interior analytics data and combining this with sales and conversion rates, owners can analyse whether their retailtainment investments are paying off.
Retail analytics will answer questions such as:
- How many people visited a newly opened food outlet?
- Did my new mix increase average dwell times and spend?
- What did the bulk of my customer base visit most this Christmas?
At the end of the day, customer behaviour affects how retailtainment budgets are spent and how your offerings are fine-tuned in order to satisfy both retailers and customers. Management teams should have a thorough understanding of customer behaviour in order to drive sales and productivity in the most efficient ways.
Retail analytics solutions are quick and easy to implement so to find out how this level of insight could benefit your centre in 2015, check our website or send us a direct e-mail with your queries.
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