A New Spin on Mall Metrics Improves Business Decisions - ShopperTrak

A New Spin on Mall Metrics Improves Business Decisions

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As a mall expert, you may already leverage basic traffic data to make decisions. But how can more advanced traffic analytics help you understand and identify additional opportunities within your mall? And what related information can help provide a more holistic view and transform the way you make business decisions?

Here are three new ideas that will position traffic, a familiar metric, in a new light.

Slice and Dice Traffic

Having access to traffic data is critical to understanding overall performance. Viewing traffic on an hourly or daily basis (as well as by zone or entrance) can yield a new understanding of traffic opportunity. Further, innovative heat-mapping technology can offer newfound visualization into the exact location of traffic performance. From here, analyzing zone and entrance performance is simple, and the insights gleaned from such analyses enable you to enhance overall mall performance and customer satisfaction.

Shopper Path

Every shopper in a mall partakes in a unique journey. When these journeys occur simultaneously, you need a way to view relevant metrics and understand consumers’ paths.

It’s only when you understand where a shopper’s journey starts that you can track it through completion. Heat-mapping technology highlights which stores are “one-and-done” and which are “first-intent.” With this information, you can boost marketing efforts by optimizing signage placement and marketing promotions. These metrics also provide data that back up leasing negotiations with current and prospective tenants, and allow you to choose the ideal location for new occupants.

Overall Opportunity

Understanding the total traffic opportunity is a critical part of recognizing your mall’s potential, but it’s only one element. With an understanding of how many visitors walk by versus enter, or the pass-by rate, you’ll gain a greater understanding of which tenants provide the most opportunity for your mall. With pass-by and dwell time metrics, you’ll also gain insight into which stores draw in the most shoppers and which areas of your mall are prone to lingering movements. Use this data to analyze previous periods and review progress. This data can also help you schedule security and cleaning staff, and aid in boosting awareness of zones that need extra attention.

Learn more about how you can reimagine your existing metrics here.

Read more posts by Kevin Kearns

Kevin Kearns is the Chief Revenue Officer at ShopperTrak, where he oversees the professional services and marketing department, as well as the global sales and sales operations teams. He previously served as the Chief Sales Officer, where he was responsible for leading global sales and customer service operating in over 90 countries.

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