What is footfall analysis in retail real estate?
Footfall analysis in retail real estate is the process of measuring and analysing the volume, pattern, and behaviour of visitors to retail properties such as malls, high streets, and standalone stores to evaluate performance, optimise leasing strategies, and improve shopper experience.
How Footfall is Measured
- Infrared and thermal sensors at entry/exit points.
- AI-powered video analytics from existing CCTV cameras.
- Wi-Fi and Bluetooth analytics tracking unique device counts.
- Mobile location data (anonymised GPS/app data from telcos).
- People counting cameras at individual store entrances.
Key Metrics Derived from Footfall Analysis
- Total visitor count: Daily, weekly, and monthly traffic volumes.
- Conversion rate: Ratio of visitors who make a purchase.
- Dwell time: Average time spent in a zone or store.
- Capture rate: Percentage of passing pedestrians who enter a store.
- Peak hours: Identifies busiest times for staffing and display optimisation.
Footfall analysis has become a cornerstone of retail real estate management. In an era where online retail is a formidable competitor, understanding and maximising physical store traffic is essential for both landlords and retail tenants.
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