8 Ways Demographic Analysis Solutions Benefit Your Business
Men and women have different shopping preferences, and different strategies are needed to attract them into your store. Even among genders, age is an essential factor. A middle-aged woman, for example, will have a different in-store shopping behavior from a teenage girl. V-Count’s Demographic Analysis solutions enable businesses to separate their visitors into groups based on their age and gender data.
When you know the demographic profile of your visitors, you are better equipped to provide them with a personalized shopping experience. You can offer the products and brands that appeal to them, improve product display and placement, and optimize the in-store design to suit the preferences of your predominant demographic.
How Demographic Profiles Affect Shopper Behavior
While shopping, different demographics have different needs, preferences, and habits. People want a variety of products and brands. Whether male, female, young, or old, people’s perspectives and rationales vary significantly from one another. These differences usually have a significant impact on their buying decisions.
For example, studies indicate that when men go shopping, the process is typically straightforward. They pick up the product they want, proceed to checkout, pay, and leave. They hardly go around comparing products or looking for a cheaper alternative. If they don’t find the product they want, they pick the next best thing to avoid coming back to the store. Men hate leaving stores empty-handed.
On the other hand, women may have a product in mind, but they’ll continue shopping for better alternatives. They may take longer to make buying decisions, and they are willing to leave if they don’t find the product they want. While women love coupons and will happily spend more time hunting down bargains, men will pay more money to speed up their buying process.
By identifying your customers’ prevalent age and gender and recognizing the differences between shopping behaviors of the demographic groups, store managers can better predict customers’ needs and tailor their services to meet them.
In-Store Gender Recognition
The V-Count In-Store Gender Recognition solution helps brands understand the gender profiles of their potential and existing customers. According to this data, store managers can optimize marketing activities to accommodate the customer base.
With a machine learning algorithm, the Ultima AI people counting sensor is installed top-down with a slight angle to anonymously detect visitors’ faces and analyze if they are male or female. The Gender Recognition solution also provides historical traffic breakdown reports by gender.
How In-Store Gender Recognition Helps Your Business
- With the customer segmentation data provided, physical businesses can gain a better understanding of their customers’ profiles and deliver a better service according to visitors’ demographics.
- Managers can measure the effectiveness of marketing initiatives and tailor advertising techniques to customers’ gender trends to boost conversions.
- Data from the gender recognition software can help improve merchandising effectiveness by choosing assortments in line with visitors’ gender data for better business results.
- Optimizing stock allocation & in-store design based on the gender demographics of visitors.
The V-Count Storefront Demographics solution helps brands understand the demographic profiles of potential customers passing by their stores. They can differentiate the gender and age distribution of customers showing interest in their stores. According to this data, stores can change the products displayed in the show windows.
The Ultima AI sensor anonymously detects the number of passers-by, their gender and age distribution, and attention time.
How Storefront Demographic Analysis Helps Your Business
- Customer Segmentation lets you gain a better understanding of your customers’ profiles to deliver a better service according to your visitors’ demographics.
- Measure your marketing campaigns’ effectiveness and tailor your advertising techniques to your customers’ demographic trends to boost conversions.
- Choose assortments in line with your visitors’ gender and age data to achieve efficient merchandising and better business results.
- Optimize the design of window displays based on the gender demographics of visitors passing by your store to draw more people into your store.
Why Leverage Demographic Analysis Solutions for Your Business
Even without in-depth analysis, some fundamental insights can be gained when you know the demographic profile of your visitors. A gadget store whose traffic is dominated by middle-aged men can increase selling opportunities by stocking products that appeal to that demographic—for example, more iPads and Plasma TVs and fewer game consoles.
If a high percentage of your visitors are women, your store needs to be designed accordingly. The demographic profile of your visitors also helps improve window displays, marketing initiatives, product placement, and store layout.
Data from the demographic analysis software shows you the age and gender groups your store attracts. You can then compare the data to the products you’re offering. A menswear store that mainly attracts men is on the right track. However, if the data indicates that you are attracting men but not in the age bracket you need, you can adjust your marketing campaigns to improve targeting.
For stores that cater to both men and women, the last thing a manager wants is predominantly male or female visitors. For these stores, diversity is essential; you want to attract all groups of people to increase engagement and selling opportunities. If your data shows that a particular demographic group does not visit your store, you need to create targeted marketing campaigns to attract them.
To sum up, businesses, old or new, need to remain competitive in the current retail climate. With technological solutions like Demographic Analysis, managers can optimize every step of their business process, attract the type of visitors they need, improve product and service delivery, and boost customer satisfaction.