What is Footfall

Retail sector is in the state of flux. On one hand they face hurdles such as new technologies, tumultuous economy, new sales & distribution channels, and on the other hand they have rapidly increasing population of demanding consumers. To overcome these challenges, and to remain relevant and competitive in the market, the retail sector needs to have paradigm shift in their approach. If we track and analyze the pattern of purchasing decisions of consumers, we would find that it involves various stages of decision lifecycle. Data generated at many of these stages can be recorded, digitized, and transformed into matrices and strategic information. These matrices & information would prove to be the vital element for retail industries in their strategic decisions. We need to focus on mechanism to extract valuable insights from retail supply chain. These insights could be further leveraged to provide competitive advantage to the retailers and at the same time a better retail experience to the customers.