Over the last several decades retail stores traditionally relied on historical sales numbers to forecast future sales. As the retail game has evolved, another very powerful unit of measurement has entered the arena, which is far too often overlooked. This key factor, when layered in with sales data will allow you to take your scheduling to the next level, finely tune and optimize your schedules and ultimately maximize profit.
You might have guessed it. I am talking about customer traffic or foot traffic data, which when leveraged with sales data helps a greater picture comes into focus. From there, management can create greater balance, refining schedules by viewing highs and lows of the days and weeks rather than relying on sales as the primary insight. The best customer to staff ratio will generate more revenue, customer loyalty from great service and employees are generally happier as they are not being stretched too thin during peak times.
Optimizing schedules tailored to forecasted foot traffic and sales data at an hourly resolution will make sure staffing levels match accordingly and assist in keeping target labor wages on track. Additionally, it will assist management in identifying areas lacking balance or productivity.
ShopperTrak & Retail Success
How can you start acquiring this data accurately at your retail location(s)? For collecting foot traffic data, ShopperTrak is great. Adi Insights integrates with ShopperTrak.
Leverage The Data
Imagine quickly creating schedules from forecasted foot traffic data, avoiding staffing errors and wasted dollars. Adi Insights takes the actual foot traffic data and uses it as source data to generate your predicted (forecasted) foot traffic across the day. We then overlay a labor deployment model which shows you how many staff to schedule across the day to match the customer traffic.
With this data on hand, you are not just making great schedules. You are creating an environment where employees are able to provide excellent customer service, have proper break times when things are slow, plus you will know when to adjust store hours to maximize revenue. In the rapidly evolving retail space, adding foot traffic data to forecast accurately will lead to better schedules, which in turn means better business and better customer experiences.