Recently, a retail chain approached us with a problem – their average sales per customer was far less than those of their popular competitors. Our research landed us to one important conclusion – their customers were spending a meagre 15-20 mins in their store on an average while their competitor’s average numbers ranged up to a whooping 90 mins.
#TimeSpentInStore is an important KPI for your store’s performance. If customers are spending more time on an average in your store, it is a good sign because:
- they are liking what they see
- they are willing to spend more time to explore and
- are likely make larger buying decisions
The longer customers browse through your store, the higher will be the chances that they will buy more products, thereby leading to higher purchase value and greater customer satisfaction.
Customer spending less time in store is an indicator of customer not finding value in your store.
According to Path Intelligence research, an increase in 1% in the time spent in store leads to a 1.3% increase in sales.
HOW TO MONITOR TIME SPENT BY CUSTOMER
Well, there are multiple options ranging from free to expensive.
- To start with check out your Google My Business listing, if you have enough volume of footfall, it shows the average time spent by the customers in your store. Also compare your numbers with that of your popular competitors.
- Assign a team to analyse customer dwell time through your CCTV surveillance for peak hours on a sample basis and keep comparing them over periodic intervals to update the average numbers.
- Install sensors such as FastSensor to monitor and generate reports on dwell time. Apart from the time spent in store, these can also provide insightful data on customer movement pattern, customer interaction with displays, checkout time delays, and productivity of your store staff.
ANALYSE AND TAKE ACTION
Find out the root cause in case of poor customer dwell time by conducting customer surveys and running systematic customer feedback programs. This can help realign your strategy with your customers’ needs and the improvement in #TimeSpentInStore can be a good indicator of that.