7 reasons to use retail analytics at the point of sale

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Analyze and find points for improvement based on an accurate view of your business's actual performance

If you want to discover new business strategies, understand audience behavior, define and optimize campaigns, improve return on investment, increase sales and enhance user experience, you must analyze the overseas chinese in canada data different points of sale of your business.

This way, you can understand the locations where customers shop, find out trends, and investigate which resources have the most weight in our stores.

What benefits does using analytics at the point of sale bring me?
Calculate the conversion rate
The conversion rate is the relationship between the number of people who enter a store and the number of sales made . We can obtain these indicators through sensors and invoices. The result is the percentage of people who make a purchase, and from here, we can perform various analyses.

Analyze the impact of promotions
With an analytics system, you can measure the impact of a promotion or advertising campaign . You can find out how many people enter the store, and know the busiest areas and times . In this way, you can study whether the increased number of visits was due to the new promotion or if it was due to another type of phenomenon, for example special dates or seasonal changes.

Optimize your staff planning
Using sensors, you can calculate traffic . With this information, we know at what times most people enter the store. From here, we can optimize staff scheduling , creating efficient shifts and eliminating unnecessary double shifts.

On the other hand, sensors allow us to know which areas of the store are busiest and, through the “ heat map ”, to plan the workers accordingly. For example, by placing more employees when necessary at the checkout or in the fitting rooms.

Studying your customers' behavior
There are devices that connect to mobile phones via Wi-Fi, and that have a recognition system that allows us to know which people are entering the store for the first time and who have been there before.

In addition, the analytics system gives us information about tickets and average sales. We can also find out which products sell the most depending on the dates or where customers come from geographically, for example. Thanks to these key elements, we analyze consumer behavior and plan a strategy accordingly.

Strengthen supervision and have greater control over what happens in stores
For those who have several stores, it is difficult to make a joint plan that works perfectly with all the stores. This is because each one of them has different qualities and metrics . However, thanks to point-of-sale analytics we can view complete information about all the stores from one place and thus be able to make better decisions for each of the stores.

With analytics systems, we can group stores according to similar characteristics and export data on conversion rate, number of sales, goal development, etc.

Omnichannel integration
An important feature for large retail companies. With omnichannel integration we achieve the unification of all areas and departments, eliminating the silos that existed previously. With this we ensure that all departments have access to information and can develop their strategies together.

Create a comprehensive strategy to improve business management
All companies in this sector have in common the sale to the end customer and the need to integrate their functions and operations to achieve success . It is now possible to have retail management software that integrates back-office, POS and front-office management in stores or chains in a single system, which allows you to centralize all the information , optimize your company's internal processes and differentiate yourself from the competition.