Owing to the real time shopping experience that it provides, the physical stores still remain relevant for the shoppers. The in-store technologies to attract more customers back to the store or to improve the selling experience for the store managers are also evolving at a blinding pace. The concept of a conversion Funnel for a brick and mortar store remains relevant here. While store managers, merchandisers and CXOs would definitely like to have as much visibility to such a conversion funnel to analyze and improve on it, is it a far-fetched dream than the Web/ Digital Channel Conversion funnel that's so much more a reality today?
We believe it needn't necessarily be a distant dream. Today there are technologies that exist that are being looked at in silo for certain specific applications. But there is an opportunity to create a very realistic Store Conversion Funnel with a convergence of these technologies. And thereby provide a near-real-time view of what is happening in-store, in terms of a path to conversion.
The technology enablers can be Video/ Thermal Imaging based counting, Beacon technology/ sound based devices for finding known, unknown customers, mobile app analytics based on the notifications clicked by the shoppers, or Point of Sales transaction count.
Let's co-relate to an Online Conversion Funnel for better clarity -
Now, if this is the funnel we want to build for better visibility to points of optimization in-store, how do we go about it? Read more about our Real-Time Store Monitoring / In-Store Analytics solution here :-
And do you think there are other ways to build this kind of a view for a physical store? Please leave your thoughts in the comments section!