The Eight Metrics for Flourishing Shopping Malls

A shopping mall is not just a mere marketplace within closed roofs! It involves the usage of an assiduous approach when it comes to analyzing the overall performance – not only in terms of money but also in terms of customer behavior.

The knowledge about the eight metrics that analyze the performance of a shopping mall is extremely important. After all, no management would like to present a situation like the one given below:

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Here are the eight metrics that, if followed honestly, will never lead to mayhem:

1. Heat map: It is a technical term used to describe the process for identifying the hot areas (just the right number of visitors), cold areas (not the right number of visitors) and the crowded areas (too many visitors) within a shopping mall
2. Zone analytics: A comparative analysis that measures the performances of different sections of a mall
3. Conversions: A tracking method for identifying the number of people who walk:
1. From the entry gate to the store
2. From one store to another
3. From one zone to another
4. Traffic: A time-dependent analysis that quantifies the popularity of different parts and retail spaces within a shopping mall
5. Attribution: An impact-based analysis that measures the effectiveness of campaigns, display ads, danglers etc. within a shopping mall
6. Benchmarking: A comparative analysis that compares different stores in terms of their performance
7. Paths: An observation-based analysis for identifying the typical paths within a shopping mall where the maximum number of people are present at any moment of time
8. Loyalty: An identification-based analysis that tracks the number of repeated visits within a store/mall and gauges cross-shopping as well