Store Surveys 101: Part 4

In case you’re late to the blog series party, we’ve been taking a deep dive into the importance of surveying your stores. In this edition we tackle answers to three need-to-know questions about store survey costs, timing and ROI.

To recap:

Survey Costs and Timing

Costs, timing and ROI are the primary concerns that come to mind before kicking off a significant project. We spoke to a leading retail surveyor to get answers to these key questions.

  1. What are the costs involved in surveying stores?
  2. “Costs can range between $500 to $5K per store – pricing depends upon the complexity of the survey. For example, how many datapoints will we need to collect at each site? What’s the distance between each store? Does your staff need a high level of post-survey support?”

  3. How long does it take to complete a store survey?
  4. “Surveys can range between several hours to one or two days based on amount of data we need to capture.”

  5. How will store surveys benefit my ROI?
  6. “The data and insights gathered through store surveys is priceless. It’s one of the easiest ways to cut marketing costs and save on indirect spend. For example, by creating a centralized cloud-based single data source, you’re able to streamline your communications. Bringing together your marketing staff, creative department, category managers and other stakeholders. Businesses using cloud-based collaboration and computing can increase productivity by nearly 400%. Additionally, creating a database of store details allows retailers eliminate overage. Knowing the details of every store, they can customize their signage and POP by store. For example, not all stores have 10 windows, not all stores have the same signage hardware, etc.”

Have additional questions about store surveys pricing, timing and ROI? Contact a survey expert today and ask if you qualify for a free 90-day trial.

4 Retail Tech Takeaways From GlobalShop 2019

For more than 25 years, GlobalShop has served as the retail industry’s largest expo dedicated to retail design, visual merchandising and marketing. This year’s GlobalShop Show brought together RetailX, Internet Retail Conference and Exhibition (IRCE) and RFID Journal LIVE! Retail and gave attendees the ideal opportunity to gain insight, network and promote their brands.

By combining e-commerce with store design and innovation, retailers were able to take advantage of new and exciting offerings from both physical stores and online stores. Here are AccuStore’s four retail technology takeaways from GlobalShop 2019 held at McCormick Place in Chicago from June 25 to 27.

Innovation & the Future of Retail

    1. Infuse digital experiences into the customer journey by using Augmented Reality (AR), Virtual Reality (VR) and Mixed Reality. Consider building those capabilities into your stores to enhance the overall shopping experience while improving operations. Retailers can use AR for everything from engaging in-store promotions to educating shoppers about their store products.
    2. Incorporate or enhance omnichannel strategies such as same-day delivery and digital coupons with in-store checkout to increase sales, gain a competitive edge and track trends. According to a 2019 Shopgate report, 67 percent of retailers say omnichannel is a priority and 90 percent of retailers are expected to offer omnichannel strategies like Buy Online, Pickup In-Store (BOPIS).
    3. Integrate frictionless shopping methods into your stores to help create more seamless  customer experiences. Cashierless checkout offers shoppers the option of using various payment methods as well as avoid waiting on lengthy lines. For example, Amazon Go stores use cameras, sensors and RFID readers, retailers can keep track of which items shoppers pick up, before charging to their account.
    4. Use technology to elevate and optimize customer loyalty programs. Technology-based rewards programs attract and keep customers. Reports state that 33% of millennial shoppers dislike reward programs because there are “too many cards to carry.” Blockchain technology can improve customer loyalty programs by keeping a record of all transactions at various stores making it more cost-effective for retailers and simpler for customers.

Didn’t get a chance to chat with us at GlobalShop 2019? Contact us to schedule a demo today.