Possibly the single biggest innovation in understanding our customers and their buying behaviour, gave out its first results this week.
Path Intelligence is a cutting edge system of tracking customer movements around our complex market. It has been in the pipeline for many months and results from a combined effort of management and trader representatives. Understanding where customers enter our market, where they go, and how long they dwell, are all crucial markers.
Making the right decisions about things like layout, trading hours, stall mix, are greatly benefitted by hard data. For instance when we have a special event in the market we can now track how many people attend and what they do afterwards. Do they move into the food halls or the upper market to generate more business for traders? Which events are most successful at generating add-on sales?
The Path Intelligence system is in its early stages of reporting. It will be tweaked over coming weeks and months to give us optimum results and QVMAC Representatives are working closely with QVM Management in this preparation. It is early days but the transition from rubbery counting methods used in the past to new technology is exciting.
Path Intelligence has potential to give us very useful information. What is almost as exciting is that its introduction has come about through collaboration between management and traders working together in a common cause – improving business levels at QVM through better understanding of our customers.