May 3, 2022
Retail is in a bit of a flux right now, shifting and changing in ways that are difficult for businesses and building owners to account for. While one day you may be raking in cash, the next can see just a few transactions roll in. Nevertheless, the insights retail foot traffic statistics give us into consumer behavior and sentiment are valuable, helping us plan for stormy weather and smooth sailing. Here are some critical pieces of retail foot traffic data driving the industry today and what they mean for business and building owners.
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The combined factors of rising costs related to global supply chain disruptions and falling coronavirus restrictions have created a mix of pessimism and optimism among consumers and showed some shaky situations popping up in retail foot traffic data; consumers want to return to brick and mortar shopping, but factors outside their control seem to be holding them back at every step.
Retailers are working to provide innovative new experiences to consumers that encourage them to return to stores, blending technology with traditional shopping to create experiences that can’t be matched by ecommerce. These new solutions, combined with customers who want to go back out into the world, look to be the foundation of tomorrow's brick and mortar experience.
With retailers facing supply chain issues and inflation, it’s a tough time to run a small business. However, these challenges are creating opportunities for superstore retailers such as Costco that can offer products in high volumes at lower prices. The boom is nice for mega-retailers with massive warehouses, but it’s not all doom and gloom for the little guys.
Of all the changes that have come to the retail environment, omnichannel shopping is perhaps the most important. Consumers research products online and use physical stores as showrooms, with retail foot traffic statistics providing insights into in-store behaviors that can help optimize floor plans, staffing, and more. Leveraging these statistics for higher sales and customer retention is important, but it requires the right tools.
As these stats show, technology and omnichannel shopping are key to the personalized shopping experiences consumers crave. Resonai’s Vera platform can provide your store or mall with the tools you need to deliver a personalized, omnichannel shopping experience that will drive sales and retention.
Providing insights into retail foot traffic statistics in your business or building, Vera can be used to create top-tier digital signage, analyze foot traffic trends, engage with customers, and make facility management a breeze. Are you ready to learn more? Get in touch with Resonai today and set up a free demonstration.
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