Achieving a Return on Analytics

Achieving a Return on Analytics

“We are starved for real-world, actionable data” (CFO, national retailer)

SHOPPER ANALYTICS FOR PHYSICAL RETAIL  

Despite e-commerce’s tremendous growth, sales from brick-and-mortar stores will remain over 90% of overall retail from years to come. While retailers utilize data regularly to hone and develop their e-commerce and mobile platforms – measuring clicks, visit duration and repeat visits – the availability of such data for physical retail lags far behind.

Euclid Analytics fills this data gap, leveling the playing field between online and offline retail, and providing a more complete view of omnichannel shopping behavior. As the first to market, Euclid’s Wi-Fi based analytics arms retailers with the same analytics that have fueled e-commerce’s success, with an easy-to-deploy solution that scales across the largest store chains. Our systems currently measure over 3 billion events a day, giving our clients the ability to measure and optimize their customer Opportunity, Engagement, and Loyalty across their entire chain.

Euclid is intently focused on helping clients operationalize their physical retail business with data and achieve a tangible ROI from their investment. The return is achieved through a combination of increased revenues and decreased costs across the entire organization (C-level, marketing, operations, strategy, finance, and IT). We work closely with each client from the start, developing A/B tests and a set of repeatable executive metrics that are used to benchmark performance and drive decision-making. Here are some of the ways Euclid can drive increased performance across your business:

OPPORTUNITY
Increase your total sales opportunity by drawing more customers into the store.

  • Assess inside and outside traffic levels across the entire store chain
  • Easily identify top and poor performers (shopper capture and bounce rate)
  • Measure outside traffic and visits fluctuations over a week and across holiday periods
  • Correlate with sales data and identify incremental revenue opportunities
  • Develop A/B tests for marketing and operational initiatives at stores
    • Return on Analytics: Increasing capture rate and reducing bounce rate lifts shopper visits and drives incremental sales


ENGAGEMENT
Maximize basket size with a more compelling in-store experience.

  • Assess visit duration and engagement across stores
  • Use engagement as an assessment data point of various marketing and operational initiatives (i.e. merchandizing resets, in-store events, tech-driven offerings, store layouts, etc.)
  • Develop A/B tests for in-store initiatives to increase shopper engagement
    • Return on Analytics: Increasing engagement and visit duration of customers leads to increased sales baskets and helps define various in-store initiatives


LOYALTY
Keep customers coming back to your stores throughout the year.

  • Assess customer loyalty across the chain and identify incremental revenue opportunities
  • Segment different customer profiles on visit frequency and recency (average time since visit)
  • Identify subset of loyal customers who do not hold loyalty cards but exhibit similar behavior
  • Develop A/B tests for customer loyalty initiatives at stores
    • Return on Analytics: Increasing loyalty (increased frequency and lower recency) and understanding various customer segments drives sales growth


CALCULATING ROI ON YOUR ANALYTICS INVESTMENT
Relying on Euclid’s data to drive operational decision-making enables retailers to find smart ways to increase revenues and reduce costs. We partner closely with our retailers to determine the initiatives that increase their bottom line, enabling them with an analytical framework for decision-making.

EUCLID MAXIMIZES YOUR RETURN ON ANALYTICS
Today, retailers are missing the critical data component to complete their omnichannel strategy: comprehensive customer analytics in their stores. Euclid offers the most scalable and cost-effective way to fill this gap, allowing retailers to achieve the same level of data sophistication in the offline and online world. Please contact us to learn more about how Euclid Analytics can help you expand your strategy and make smarter decisions about your business: euc.li/contact

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Alexander Reichert, Insights

Alexander Reichert, Insights

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