How Cyclops Can Help Retailers Gain Actionable Insights Into Their Stores

Challenge

A supermarket offering wide ranges of food products for home cooking wanted to learn about the people traffic and correlate the traffic data with their sales data to make better decisions around marketing, sales, and operations. Without such insights that could be obtained by retail analytics solutions, the retailer felt that they could not gain a full understanding of how to reach the right customers at the right time.

Solution

The retailer implemented Cyclops to develop a better understanding of traffic trends within the store. Key decision factors were usability and ease of implementation. They wanted a turnkey solution – with a user-friendly dashboard that would provide day-to-day support for its store. This partnership gave their team access to traffic data, such as demographics of the customers, the number of people who come into or pass by the store, and popular zones inside the store.

Insights

The implementation of Cyclops provided the supermarket brand with easy access to its store traffic data. Complemented with their sales data, the retailer could obtain valuable actionable insights that could be beneficial for marketing and operational activities.

• The retailer found out that the daily average number of people passing by their store is almost 5,000. This number was larger than they had assumed when they were not utilizing Cyclops, which led them to consider strategies to take advantage of this large number of passersby and attract more shoppers to come inside the store. The retailer decided to place their best-selling item at the store entrance so that more people will show interest in their items, come into the store, and ultimately increase the conversion rate.

• Integrating the shopper demographics data from Cyclops and the retailer’s sales data revealed that the average transaction value of one male is higher than that of a female. This was a surprising insight for the retailer as they expected females to spend more than males, given the nature of their product offerings. This insight can be used to devise marketing and promotional ideas to attract more males to visit their store or to increase the conversion rate of females.

• With Cyclops, the retailer discovered that the most popular zone inside their store is the area near the frozen food corner. To take advantage of this observation, the retailer decided to place some racks above the freezer and place other items on the rack so that people who walk by the frozen food corner can end up purchasing other items as well.

The retailer now has insights into who their customers are and how their customers shop inside their store. This will help them tailor their operations and marketing actions, evaluate the impact of their actions on traffic, and make changes accordingly. To learn more about how Cyclops can help you gain insights into your store, visit our website: https://dayta.ai.