“Retail is detail” as everyone knows.
Trouble is 4 of the most important numbers have always been hard to measure.
Thanks to a clever piece of kit called ProfitCam, you can now get a handle on the crucial numbers and a lot more besides.
But before we look at the tech, let’s look at …
A group of retail experts watched thousands of customers and collected millions of data points over about 15 years. They found these were the top 4 numbers for retail:
They also worked out how to use them to increase both conversion rate and average dollar sale.
To kick your conversion rate upwards they suggested simply doing 3 things:
To increase average dollar sale they said to:
ProfitCam is a very special 360 degree camera that does 3 really useful things to help.
First it counts how many customers you actually get.
Second it emails you a report broken down by weeks, days and even hours.
And third it automatically generates a ‘heat map’ showing exactly here people actually go in your shop.
Here’s what it looks like.
You also get some very clever software which is forever upgraded for free.
You can also stay in control everywhere you go with a sophisticated App.
Plus everything else you need to make it really pay off.
In fact here’s a quick summary of what’s included:
• Hardware, including extra memory installed
• Software, app & extra memory installed
• Analytics programmed & activated
• email reports programmed & activated
• System configured for remote access if required
• Initial training delivered
• Monitoring programmed & activated
Of course the beautiful thing about ProfitCam is it’s also the world’s best security camera.
It’s made in Germany by MOBOTIX which means it’s got a lot going for it, including:
So for at least the next 9 years it’ll not only analyse your retail shop’s vital signs, but it’ll keep a 24/7 eye on the store - it’ll even alert you if there’s a break in if you want!
It’s available in Auckland today.
This isn’t some pie-in-the-sky ‘brochure-ready’ dream. It’s being installed in Auckland retail stores every day.
It doesn’t do everything. It will not make you a cup of coffee or counsel your upset staff members.
But … it brings those important numbers to light so you can act on them. Like the liquor retailer who used the heat map to increase his gross profits by 20% by using the heat map to move his high margin items from a low to a high traffic area.
It’s not something that’ll take you months of cultural change or countless meetings to implement. About 2 hours is all it takes to install the hardware and software in most shops.
I remember a very successful business man telling me once that there’s always far too many things you could be doing to improve your profit. The key, he said , was pick the low hanging fruit and forget about the harder stuff. At least until you get the easy stuff done.
ProfitCam is low hanging fruit.
Please drop me a line on 09 551 7716 to discuss whether ProfitCam might make you more money every financial year from now on - not to mention the added value and multiple when you sell your business ( one of the people who got most excited about ProfitCam was a very experienced Auckland business broker).