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People Counting blog

NRF 2017 Forecast: U.S. Retailers to See Sales Increase

Posted by Allen Haynes on Feb 14, 2017 2:03:10 PM

American retailers will see a sales increase of about 3.5 to 4.2 percent in 2017, according to the National Retail Federation.

If the prediction based on economic outlook, labor market growth and consumer spending trends holds true, it will continue retail’s resurgence of growth in recent years. Online and other non-store sales are expected to increase between 8 percent and 12 percent, according to the forecast.

“The economy is on firm ground as we head into 2017 and is expected to build on the momentum we saw late last year,” NRF President and CEO Matthew Shay said in a press release. “With jobs and income growing and debt relatively low, the fundamentals are in place and the consumer is in the driver’s seat.”

With these high expectations for U.S. retailers, ensuring both company-wide and store-specific operations are optimized will be essential in sustaining in-store traffic and revenue opportunities in 2017 and beyond.

This process often begins with obtaining actionable traffic data that is utilized to create the ultimate shopping experience for your customers, including delivering superior service throughout the store and ensuring checkout lines are short.

Both of these elements encourage consumers to spend more time shopping, which can lead to significant revenue gains. And with retail executives emphatically stating improved conversion rates is the primary need from retail analytics at the 2017 NRF BIG Show, now is the time to invest in technology that equips retailers with the real-time data needed to increase revenue and reduce operating costs.

Download Irisys’ People Counting White Paper and Learn How to Optimize Your  Customer Experience

Topics: People Counting, Customer Service, Retail Analytics

The Results of our NRF retailer survey!

Posted by Jordan Britchford on Jan 24, 2017 9:43:36 AM

NRF's Big Show is now over for another year, but it was a fantastic show and we had a great time meeting so many retailers and other companies all interested in the power of retail analytics.

Our retail survey was a big hit with the crowds, and we had over 150 votes from retailers to spell out their most desired business improvement that Irisys' systems can help deliver. Here are the results:

Irisys NRF Retailer Survey Infographic.jpg

 

Topics: Retail, Retail Analytics, NRF2017

The World’s No. 1 Supplier of People Counting Solutions Ships 400,000th Thermal Device

Posted by Allen Haynes on Nov 16, 2016 2:00:00 PM

NORTHAMPTON, UK and ATLANTA (Nov. 15, 2016) – Irisys, a global leader in retail analytics and in-store technology, has shipped its 400,000th thermal people counter.

This milestone shipment continues strengthening the retail analytics company’s position as the No. 1 supplier of people counting and queue management technologies. Irisys was also recognized as the top company for retail customer analytics implementation by ABI Research in April.

Irisys’ solutions are used by some of the world’s leading retailers to boost customer service, operational efficiency and profitability, including Kroger, Tesco, Staples, Adidas, Samsung and more.

“We take immense pride in providing secure, real-time analytics to retailers looking to boost conversion ratio, optimize efficiencies and increase revenue,” says Chris Precious, president, Irisys Americas. “Our technology has not only proven to deliver the critical data retailers need to improve business efficiency, but our superior manufacturing standards mean we also have an extremely low rate of returned product, a further validation of our industry-leading reliability.”

Irisys people counting sensors have tracked the movements of more than a billion people providing innovative, real-time data that equips retailers with better analytics to optimize the customer experience and ultimately increase revenue.

As Irisys looks to 2017, the company plans to continue its mission of providing retailers with excellence, integrity and innovative thinking to deliver the best retail intelligent solutions the industry has to offer. Irisys will be showcasing its latest products at Exhibit #637 at the NRF Big Show, Jan. 15-17, 2017, at the Javits Convention Center in New York City.

About Irisys

Irisys is a high-tech innovator pioneering new solutions to bring strategic insight and expanded capabilities to an array of industries worldwide. Combining discreet technology and intelligent software, Irisys technology provides actionable information that can be used to drive operational efficiencies and improve business performance. Delivering faster checkout lines, cleaner facilities, higher-security perimeters, and more, Irisys’ solutions are deployed throughout the globe’s leading retail operations, publicly and privately owned buildings, airports, security systems, and other facilities. For more information, visit www.irisys.net.

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Topics: People Counting, retail people counting solutions, Retail Analytics

UK Holiday Sales Expected to Rise 3.5 – 4 Percent Calming Brexit Concerns

Posted by Allen Haynes on Oct 24, 2016 3:56:22 PM

Retailers are expecting British spending to bounce back from Brexit concerns and increase anywhere from 3.5 to 4 percent, according to a report published by Fung Global Retail and Technology.

If the prediction holds true, UK holiday retail sales will be around £73 billion. This bump will be a welcomed relief for retailers following 2015’s holiday retail season, which was the UK’s weakest in 25 years, and fears the EU referendum would stifle in-store holiday shopping.

“We anticipate no drag on retail sales this Christmas from the Brexit vote in June. Brits have demonstrated resilience following the EU referendum, confidence is on an upward path and retail sales have strengthened in the months since the vote,” says the report.

While retail sales as a whole are expected to rise, apparel specialists and department stores may not receive as much of a bump as other retailers unless a cold snap occurs in November and December to drive up the sales of jumpers, coats, boots and other apparel.

Retailers must capitalize on these projects and invest in operational efficiency and customer experience technology that delivers data in real time.

In doing so, UK retailers will uncover a multitude of strategic improvements like optimizing in-store layouts with traffic flow, staffing and adjusting operating hours to align with peak customer shopping schedules – all of which can drive revenue by increasing conversion ratios while lowering operating costs.

But to boost the bottom line, retailers must invest in the right technology.

People counting and queue management systems from Irisys, for example, are among the best solutions available to retailers. They provide the high-priority, real-time data that is essential to creating the ultimate customer experience.

Learn How to Create a Memorable In-Store Experience

Topics: People Counting, Holiday Shopping, Queue Management Systems, Holiday Sales, Retail Analytics

U.S. Holiday Sales Expected to Rise, Seasonal Hiring Remains Strong as Retailers Prepare for Busy Shopping Season

Posted by Allen Haynes on Oct 14, 2016 4:35:02 PM

In-store sales are expected to increase 3.6 percent to $655.8 billion, an increase over last year’s $626 billion, according to the National Retail Federation (NRF). And most of those sales will come from inside the store.

In a separate survey released by the International Council of Shopping Centers, more than 91 percent of U.S. consumers said they plan to make purchase at brick-and-mortar stores. That number jumps to 96 percent for shoppers who intend to either webroom deals before heading to a store, or make online purchases with Big Box retailers who offer in-store pickup.

These forecasts coupled with additional recent reports showing in-store retail sales are resurging negate the claim that traditional brick-and-mortar shopping is dead. In fact, these projections are especially critical for stores relying heavily on the holiday shopping season, which accounts for about 20 percent of annual retail sales.

“All of the fundamentals are in a good place, giving strength to consumers and leading us to believe that this will be a very positive holiday season,” said NRF president and CEO Matthew Shay in a press release.

Holiday Hiring Remains Strong

U.S. retailers are also projected to hire more than 700,000 temporary employees for this year’s holiday season, according to Challenger, Gray & Christmas. This forecast is no surprise as retailers are already planning to extend holiday shopping hours with many opening earlier than ever on Thanksgiving as a kick-off to the highly anticipated Black Friday shopping weekend.

The 2016 holiday season will be a pivotal time for many brick-and-mortars. Ensuring all aspects of store operations are optimized will be essential for retailers to not only seize customer loyalty and create a memorable in-store experience in November and December, but also in sustaining in-store traffic well into 2017.

“We continue to see positive consumer spending intentions ahead of the holiday season, with an emphasis on shopping in physical stores,” said Tom McGee, President and CEO of the International Council of Shopping Centers in a press release.

With customers shopping early and often this season, it is vitally important retailers take advantage of the increased exposure and create memorable in-store experiences. Streamlining all operations from front-end and store layout to staff scheduling and queue management will be essential in providing the ultimate shopping experience.

Learn How to Create a Memorable In-Store Experience

Topics: People Counting, Holiday Shopping, Customer Experience, Holiday Sales, Retail Analytics

4 Reasons Retail Stores Matter Now More Than Ever

Posted by Allen Haynes on Oct 7, 2016 4:02:57 PM

IS PEOPLE COUNTING THE ANSWER FOR RETAILERS? >

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IS PEOPLE COUNTING THE ANSWER FOR RETAILERS? >

Topics: People Counting, Brick-and-mortar, Retail, Retail Analytics

Report: Business Booming for U.S. Brick-and-Mortars Who Understand Customers

Posted by Allen Haynes on Sep 22, 2016 8:33:29 PM

Retail sales from brick-and-mortar stores are resurging, negating the claim that traditional brick-and-mortar shopping is dead, according to a recent report from CNBC’s “Mad Money.

Online retail market Amazon reported $50 billion in domestic sales last year, however overall retail sales totaled $4.71 trillion. Analysis of the data indicates that people are indeed continuing to shop in stores, creating further incentive for retailers to create the best possible experience for consumers.

Retail giants Wal-Mart and JC Penney reported strong profits last quarter, invigorating the sluggish brick-and-mortar retail market. Multiple factors can be attributed to the unexpected growth, including updates in fashion, the booming housing market or investments in the workforce.

With clear indications of an earnings jump and customers hitting brick-and-mortars for their shopping needs, retailers should take advantage of the opportunity by investing in thermal technology that protects customer privacy.

Irisys’ People Counters, for example, provide insightful customer analytics – and they do so unobtrusively because shoppers are detected only by their body heat.

Without gathering any personal information, Irisys technology collects footfall patterns that occur at store entryways and exits, as well as the checkout, without capturing any personal information about the shopper.

The data can be utilized in a variety of manners, from measuring traffic and calculating conversion to optimizing in-store layout and staff scheduling. When combined with Irisys’ Queue Management Solution, it can even deliver a faster checkout.

Brick-and-mortar stores implementing retail analytic technologies from Irisys can confidently embrace the changing retail market –and have the strong profits to show for it.

SEE OUR CASE STUDIES >

Topics: People Counting, Retail, US Retailers, Retail Analytics

UK Retailers Recover Strongly After Initial Brexit Sales Dip

Posted by Allen Haynes on Sep 1, 2016 1:43:11 PM

Sales for UK retailers improved dramatically to a 9 percent increase in August surprising store owners after July’s staggering -14 percent decrease, according to a recent survey from CBI.

This sudden increase in retail spending has astonished some industry experts who predicted August to hover around 0 percent year-over-year sales. In fact, more than 26 percent of respondents placed more orders with suppliers than they did a year ago.

These interesting findings are further validating earlier August reports indicating British shoppers are heading back to brick-and-mortar locations sooner than expected since the UK’s vote to leave the EU.

“The summer weather has brought shoppers out onto the high street with retailers reporting that sales growth has risen, outdoing expectations, although firms do expect sales growth to ease next month,” said CBI Head of Economic Analysis and Surveys Anna Leach in a press release.

And while these discoveries may be surprising for some, they should serve as a reminder to retailers that the in-store experience not only matters, but is a key driver in promoting brand loyalty.

As British consumers begin shopping again, retailers must create new and exciting shopping experiences that entice customers away from tablets and laptops and into their brick-and-mortar locations.

Now is the time for brick-and-mortars to commit to enhancing the shopping experience and improving operational efficiency through technological innovation like people counting and queue management solutions.

Retail technologies, like Irisys People Counting and Irisys Queue Management, play crucial roles in helping retailers improve in-store service-delivery strategies. Irisys People Counters provide critical performance metrics – and validate (or dispute) assumptions that stores are gaining traffic and improving conversion rates.

And Irisys Queue Management puts retail metrics into action. The predictive checkout solution reduces customers’ queue times and optimises staffing levels at the front end and throughout the store.

Take a look at 4 Ways Retailers Can Save Money Using Analytics.

Contact Us to Learn More about Irisys Intelligent Retail Solutions

Topics: People Counting, Retail, Customer Experience, Retail Analytics, Brexit

4 Ways Retailers Can Save Money Using Analytics

Posted by Allen Haynes on Aug 4, 2016 1:30:11 PM

4_Ways_Retailers_Can_Save_Money_Using_Analytics_FINAL_8.3.2016.png

Topics: People Counting Technology, Retail Analytics

People Counting: The Solution for Back to School Shopping

Posted by Allen Haynes on Jul 21, 2016 7:28:46 PM

Believe it or not, back-to-school season is just around the corner and back-to-school shopping is in sight for parents and retailers alike.

In recent years, parents have delayed their shopping until later in the season to verify the price is right, and this trend is continuing in 2016, according to a poll by NRF Stores. More than 30 percent of parents will be seeking deals and coupons in order to make back to school shopping for both school-aged and college-aged students as budget friendly and economical as possible.

What does this influx of budget-conscious, smart shoppers mean for retailers? It means that maximizing seasonal sales and profits will come down to strategic pricing and placement.

For brick-and-mortar stores, utilizing data gathered by Irisys thermal people counters to measure footfall traffic will enable retailers to construct displays and store layouts in the most efficient and shopper-friendly way possible. Enabling their customers to easily find the items and deals they are seeking will prevent shoppers from looking elsewhere, and will in turn maximize profits.

Additionally, implementing Queue Intelligence software from Irisys will ensure that, as crowds increase, the customer experience is superior to the competition. Queue Intelligence enables retailers to gauge the appropriate staffing and minimizes wait times at check-out, making the shopping experience more enjoyable for consumers.

Back to school can be a stressful season across the board, but retailers can make their season successful with strategically implemented technology from Irisys. Learn more about people counting here.

Topics: People Counting, Back to school shopping, trends, retail survey

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