Written by Chris Peacock, Client Account Manager for RetailReport.
In March 2019, if the weather is the seasonal norm, analysts will be reporting a significant increase in Footfall and Sales across the whole of the Retail sector. This is because, as we all know, we had an awful time during March 2018 because of the "Beast from the East" and Footfall was drastically down as shoppers stayed indoors to keep warm. But, will analysts remember that fact when they come to crunch the numbers in 2019? Some might but many will not, and as Footfall and sales will be much higher by comparison to 2018, analysts will be seeking a headline and talking about a turn-around of the fortunes of UK Retail.
At a time of huge volumes of data being gathered and analysed on the state of the Retail sector, the analysis will be flawed unless it's taken in context with all other associated facts. Shopping Centres gather huge volumes of data on various performance indicators, such as Sales, Footfall, Parking, Wi-Fi Usage, Website Traffic, etc. However, Centre Management teams are drowning in all of this data and struggling to turn it into meaningful reports. They spend huge amounts of time manually collecting, collating and processing this data, when they could be focused on more productive tasks, such as running their Centre.
Automation is the answer. Automating the collection and processing of data and displaying it alongside all of the other relevant sources of information will save the Centre Management team a vast amount of time and provide them with an accurate overview of the Centre's activity. For example, incidents of bad weather and traffic or travel issues need to be logged into a centralised calendar, as both of these could impact Footfall and Year on Year figures. It's one thing knowing that something happened, but quite another to understand why, and it’s knowing the why which may allow us to forecast what is likely to happen in the future.
A tool exists to help overburdened Centre Management teams automate many of their time-consuming data gathering and processing tasks. RetailReport is the only software on the market that can integrate with just about any third-party system or service, to automatically gather data from all of the available sources and turn it in to meaningful reports. This information is presented live in easy to understand dashboards, with charts and graphs showing just the "Need to Know" information. Having instant access to only the information you need to know removes the need for printing and distributing voluminous reports which no-one has the time to read.
Information must be presented in multiple different formats relevant to the different consumers of the information, including Landlords, Asset Managers, Centre Management Teams, Surveyors, Marketing Teams, Retailers and more.
RetailReport delivers all of this functionality and is already benefitting many Shopping Centres across the UK. Please use the demo button below to discover how RetailReport can revolutionise your Shopping Centre Management.