Retailers and CPG manufacturers are constantly seeking ways to enhance in-store experiences and reduce friction to encourage more unit/dollar sales and minimize lost opportunities. At the core of this initiative is the elusive and often misunderstood concept of shoppability. This concept aims to make shopping categories more convenient, intuitive, and frictionless for consumers, resulting in more sales and a more positive shopping experience.
To address this challenge and apply advanced metrics to the concept of shoppability, VideoMining has spent over a decade developing AI-powered technology, machine learning, and computer vision algorithms to capture detailed shopper behavior data and identify key drivers of a shoppable journey. Our team of shopper scientists brings decades of expertise in category leadership, behavioral science, shopper marketing, and retail analytics to the table, contextualizing deep learnings with the necessary retail expertise to generate actionable insights for true category growth. Our research tools capture and decode the micro-moments that occur during shopping trips, providing us with a wealth of insights into the concept of shoppability.
Shoppability is all about delivering personalized, frictionless, and relevant experiences that tighten the funnel from intent to purchase decision. While this metric is commonly used for e-commerce, it has historically been difficult to apply to brick-and-mortar retail due to the lack of visibility into every keystroke and conversion moment in a physical retail setting. Fortunately, advanced technologies, such as those used by VideoMining, can capture the nuanced micro-moments of environmental factors and resulting behaviors of the in-store experience, bridging that gap, and delivering a more qualified assessment of shoppability in-store.
Did you know that the average conversion rate for center store categories in grocery is only 55%? This means that 45% of shoppers who engage with a category ultimately walk away without purchasing anything.
Defining Shoppability: Introducing Metrics That Matter
If you’re ready to learn more about the concept of shoppability, VideoMining has the tools to help you build strategies destined for greatness:
⟶ In this Shoppability White Paper, we share the metrics that matter when determining shoppability, what sources of friction increase walk-rate, and introduce essential metrics to enable tracking, dissecting, and improving the shoppability of your category.
