I want to share bleeding-edge thinking about Behavioral Economics, In-Store Analytics, and Retail Technology from the unique perspective of an adviser and trainer to retailers and technology startups. pages.behavioranalytics.academy/newsletter
In this video, you'll learn how to build a customer experience strategy for physical retail. I'll introduce advanced analytics techniques for customer behaviors, specifically KPIs for retail concept stores.
I'll clarify the sources of confusion between digital and physical analytics. To build a customer experience strategy correctly, you start with behavior analytics.
Introducing the customer experience KPIs:
Time-based KPIs are ideal for user signals.
If you have heard about YouTube and Google Ranking factors, you already know that time-based metrics such as Watch Time and Time on Page are important user signals. The same concepts hold in retail stores, but with a twist.
Location-based KPIs provide a better understanding of the sales opportunity.
Location metrics include people counting and conversion KPIs.
Most importantly, the location-based analytics and funnels provide a fine but firm line between the retail organization's marketing, merchandising, and store operations entities.
Group-based KPIs generate actionable insights on social behaviors.
If you want to dig deep into labor productivity, customer segmentation, and cohort retention charts, you need group-based analytics.
Bottom line,
You cannot get closer to your customers than in the physical store.
And to build a customer experience strategy in retail concept stores, you need measurable and manageable KPIs.
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