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The Ultimate Guide to Foot Traffic Data 2021
What is Foot Traffic Data?
Foot traffic data is a subset of geospatial data. Foot traffic data, or footfall, tracks the number of consumers who pass through certain areas during specific times. It may also indicate how long they stayed in this area and how often they came as well as the most popular areas and times for people to visit.
How is Foot Traffic Data collected?
Foot traffic data is collected in many ways:
Micro level - Wifi is the most common and reliable tool for tracking foot traffic data on an micro level (such as in a store or shopping mall). Bluetooth can also be used to track footfall and neither necessarily need a phone to connect to.
Macro level - In larger areas, such as shopping districts, GPS mobile location is used to collect foot traffic data. It works on this level instead of on a micro level because it is not accurate enough for specific pinpointing of location.
Other means of collecting foot traffic data includelaser beams and thermal imaging sensors which depict results on a heatmap. These are less common than the others mentioned above.
How you measure foot traffic depends on what you plan to do with the data. In general, you can follow the steps specified below for foot traffic data analysis:
• Create goals for evaluating foot traffic
• Identify data collection entry and exit points
• Pick an accurate traffic counting sensor
• Choose how and when to store or transfer data
• Install counting sensors
• Set up procedures for gathering traffic data
• Start collecting information on foot traffic
• Analyze the traffic results
• Draw data-driven conclusions.
How does a Foot Traffic counter work?
The foot traffic counter uses sensors, i.e. RFID (Radio Frequency Identification) Infrared technology, to register customers entering or exiting a store by counting each time the beam is interrupted for real-time foot traffic data. Any of the more advanced solutions will also decide the customer’s exact direction of movement; whether they’re coming in or going out. These devices are typically based on thermal imaging, i.e. body heat sensing or video processing technologies. Counts may be segmented virtually in real-time or split into time intervals such as five minutes, thirty minutes, an hour, etc. Data marketplaces can allow you to access commercial foot traffic dataset reports produced by time span, shop location, entrances, for a fixed price or on foot traffic data subscription datasets basis.
What are the attributes of Foot Traffic Data?
Commonly, foot traffic data includes the number of visiters to a certain place or area over a set period of time. It may also include the number of mobile devices located at this location, the exact location coordinates or demographic data about the area. Foot traffic data also tells users about a visitors ‘dwell time’ - the time they spent in a certain store or location.
What is Foot Traffic Data used for?
Businesses uses foot traffic data to help improve their performance. They can use this data to understand consumer behavior patterns in order to maxmize their profits. By comparing foot traffic to the number of sales made, you can see how successful your business is by understanding conversion rates.
You can also see trends such as the effect of increased foot traffic on business to work out how to make your company as profitable as possible.
Some companies, like retail store owners, use foot traffic data to establish their least successful hours and peak times to optimize their staffing schedules.
What is Footfall Data analysis?
Footfall analysis is a metric used in the assessment of physical systems to measure how long it takes to move from one point to another using historical foot traffic data generated. It is also used in the form of customer waiting periods or in the control of lines or queues in the supermarket or other commercial situations. In order to improve your sales and ultimately make a profit, it is important that you have a way to measure and analyze your footfall. Systems use video cameras, thermal imaging, infrared beams and facial profiling to help retailers gain a better understanding of how people move around their stores with real-time foot traffic data.
Why is it important to measure Foot Traffic in stores?
It’s important to measure traffic in stores, because sales figures alone can’t tell you all you need to know about the status of a company. Foot traffic data provides the benchmark you need to measure your performance with real-time foot traffic data. Foot traffic patterns show places where you can maximize your operating performance and find prospects for expansion. If you have a traditional street-side shop or are considering selling offline to diversify into an increasingly competitive e-commerce market, it’s a data point you can’t afford to skip. Buying foot traffic data online from a data marketplace enables businesses to refine their shop to provide outstanding quality and customer service, and evaluate their performance in future according to footfall numbers.
Is Foot Traffic a retail store KPI?
Yes, this is part of the commercial foot traffic dataset. KPI (Key Performance Indicator) is a measurable value for the analysis of foot traffic data that shows how efficiently a company achieves business goals. Various KPIs are used by organizations to gauge their success in meeting targets. Elevated KPIs typically focus on company performance on the whole, while low-level KPIs tend to focus on procedures in certain departments, like sales, marketing, HR, support, and others. Foot traffic answers the questions of Customer Retention, Customer Satisfaction, Inventory Metrics Knowledge, Inventory Turnover, Gross Margin Return on Investment. Data marketplaces like Datarade include datasets from foot traffic data providers tailored to these specific use cases
How long does Foot Traffic Data collection take?
Foot traffic (footfall) data is an overview of the number of customers going through and entering such places, such as malls or workplaces for the study of foot traffic data. Analyzing foot traffic isn’t always easy. For example, the essence of your company may need answers to more complex questions, such as which place has more traffic during the morning rush. Also, as high-density areas also need higher rentals, you need to ask yourself how much foot traffic is enough to make the rent worthwhile, and how much money is worth saving. All this leads more time needed to properly collect foot traffic data, which can be reduced by buying a commercial foot traffic data from a data marketplace like Datarade.
What are Foot Traffic statistics for 2020?
Foot traffic figures for 2020 indicate that in early 2020 the NRF had expected retail revenues for 2020 to rise between 3.5 and 4.1 per cent on the basis of commercial footprint datasets. This was before the COVID-19 pandemic, which caused states to issue shelter-in-place orders. Just one month to the pandemic, the National Retail Federation estimated that the company will lose $430 billion in sales in the third quarter of 2020. At least 630,000 non-essential shopping stores have also been suspended due to the pandemic. Foot traffic data vendors are gathering these data points and listing them on commercial data marketplaces like Datarade, so retailers can access the most up-to-date foot traffic data analysis.
How can a user assess the quality of Foot Traffic Data?
The best foot traffic datasets will provide accurate locations with frequent updates to the data it provides, so that you can understand consumer movement, dwell time and behavior. A dataset with historical records may also help you analyze trends over time, such as identifying POIs in a given area. Before buying foot traffic data, always check the data provider’s reviews. Lastly, ask for a data sample before you buy from a provider to ensure that their foot traffic data is exactly the information which will meet your business needs.
Who are the best Foot Traffic Data providers?
Finding the right Foot Traffic Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Foot Traffic Data providers that you might want to buy Foot Traffic Data from are Huq, Walk Score, Kochava Collective, SafeGraph, and Gravy Analytics.
Where can I buy Foot Traffic Data?
Data providers and vendors listed on Datarade sell Foot Traffic Data products and samples. Popular Foot Traffic Data products and datasets available on our platform are Foot Traffic Dataset by Automaton AI , Aggregated Footfall Data - UK by Tamoco, and Custom Area Visitors by Gravy Analytics.
How can I get Foot Traffic Data?
You can get Foot Traffic Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Foot Traffic Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Foot Traffic Data APIs, feeds and streams to download the most up-to-date intelligence.
What are similar data types to Foot Traffic Data?
Foot Traffic Data is similar to Location Data, Map Data, Satellite Data, Point of Interest (POI) Data, and GIS Data. These data categories are commonly used for Location Intelligence and Foot Traffic Data analytics.