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63% of customers entering a store leave empty-handed

For the second consecutive year, TC Group Solutions, leader in developing all types of solutions for collecting, storing, processing and analyzing the BIG DATA that interacts within Retail organizations, has produced the BIG DATA Report about the Consumers’ Behavior 2016.

The BIG DATA Report about the Consumers’ Behavior 2016 by TC Group Solutions analyzes the consumers’ attitudes on the shopping streets of 23 Spanish cities with more than 200,000 inhabitants, starting from the thousands of data that are obtained daily from more than 2,000 sensors that the company has installed in them.

The objective of the study is to help understand the behavior of consumers as well as the performances of the different cities, areas and commercial streets of the country: their pedestrian’s flow, the days and the hours of peak and lowest affluence, or the cost per potential client derived from the real estate’s rental prices. The report also incorporates a chapter entirely devoted to consumers’ behavior within stores in the FASHION sector: how many of them enter the shop, what days of the week and at what time, how many buy and how many leavewithout making a purchase.

Dr. Carlos Torrecillas, Professor of the Marketing Management Department at ESADE and author of the study’s prologue, welcomed the presentation that took place in Madrid at the Círculo de Bellas Artes. With his lecture titled “VUCA BIG DATA and the Concorde: flying over the storms” the professor revealed that “in a “VUCA” world (Volatile, Uncertain, Complex and Ambiguous) it is necessary to be able to obtain and process large amount of data and, in addition, to visualize them in a way that allows a quick analysis and understanding in order to make rapid professional/strategic decisions in such changing environment.”

The founder and CEO of TC Group Solutions, Álvaro Angulo, emphasized that this study “makes it possible to turn data into useful information for decision makers in retail, from choosing the best location, to aspects related to the point of sales management with the objective to improve cost effectiveness.”

Marta Fernández Melgarejo, marketing director at TC Group Solutions, was responsible for representing the results of the study, which revealed that 63% of customers entering a store, leave empty-handed, or that in Gran Vía in Madrid, a store of 80m² is paying 2.8 euro cents per potential customer, while in Paseo the Gracia in Barcelona, it would pay 3.4 euro cents.

 

THE PEDESTRIAN TRAFFIC

The first out of four chapters that complete the report, presents the behavior of the pedestrian traffic (where it moves, what days of the week, at what times...) on the commercial streets of Spain, classified in three groups of cities, according to the number of inhabitants: Barcelona and Madrid, studied one by one; Valencia, Seville, Bilbao, Zaragoza and Malaga, studied all together; La Coruña, Vigo, Oviedo, Santander, San Sebastián, Pamplona, Valladolid, Salamanca, Alicante, Murcia, Cordoba, Cadiz, Granada, Palma de Mallorca, Tenerife and Las Palmas, also studied simultaneously.

Comparing the two largest Spanish cities, Madrid and Barcelona, it is possible to notice that while in the capital the traffic was growing up during the years, thanks to the good results of the first quarter, in Barcelona the average daily traffic was, every moth, lower than the previous year. Taking into consideration the whole year, the traffic on Madrid’s main shopping streets grow by 22% with January being the month with the highest traffic thanks to the sales, with a daily average of 6,031 pedestrians. On the other hand, the evolution of the pedestrian traffic on the commercial streets of Barcelona remained very similar to the previous year and comprehensively it only grew by 1.38% during the year. The best month in the Catalan city was September, with a daily average of 5,951 passers-by.

The days with the highest flow were January 4th in Madrid ¡, with 8,047 pedestrians and again April 23rd in Barcelona with 8,331, a figure which places itself slightly below the one of the previous year.

The five regional metropolis accounting from 300,000 to one million inhabitants, Valencia, Seville, Bilbao, Zaragoza and Málaga, in 2016 increased foot traffic of their commercial streets by 4.33%, reaching an annual daily average of 4,210 pedestrians, with inter-annual growth in all months of the year apart from July, which suffered a drop of 2.09% compared to 2015.

This year the Christmas period replaces Easter in this city, given that December was the month that he recorded the most traffic in 2016, with 4,588 medium pedestrians, gaining the position of March the winner of 2015.

In the cities accounting between 200,000 and 300,000 inhabitants, La Coruña, Vigo, Oviedo, Santander, San Sebastian, Pamplona, Valladolid, Salamanca, Alicante, Murcia, Cordoba, Cadiz, Granada, Palma de Mallorca, Tenerife and Las Palmas the average of passers-by increased by 13.75% improving the amount of every month of the year respect to the previous, reaching 3,958 of daily annual average pedestrians. The best month was again December, with an average of 5,225 passers-by and, 7.64% more than 2015.

 

THE COST PER POTENTIAL CLIENT

The second chapter of the report deeply studies one of the most representative streets of each group: the traffic and inflow evolution according to the hours of the day, the days of the week, rental prices of the commercial premises and, consequently, the Cost per Potential Client of each one, based on the calculation of the published rental prices of commercial premises (€/m²/month) and the monthly pedestrians’ average of the exercise. Thus, the Gran Vía in Madrid substantially improved the potential profitability of its commercial premises thanks to the improvement of the average traffic: the stable rents’ average together with the strong increment of the traffic make it possible that the cost per potential client of 2016 amounted to 2.88 euro cents, compared to the 3.5 euro cents in 2015.

 

VISITOR CONVERSION RATE AND CUSTOMER CONVERSION RATE

The third chapter of the report analyzes the customers’ buying intention, an indicator that the company defines as the visitor conversion rate, in order to calculate the percentage of passers-by (potential clients) that actually enter a store.


In 2016 Barcelona has gained appeal among consumers (9%) compare to the previous year, although, Madrid still performs better (9.75%). However, if we take into consideration the Customer conversion rate, which measures the percentage of visitors to a shop that end up making a purchase, the stores in Barcelona achieved an average of 34.42% reaching a conversion 2 points higher than Madrid (32.34%).

 

FASHION AND ACCESSORIES

TC Group Solutions has dedicated the last chapter of the study to the analysis of consumers’ behavior within the fashion and accessories sector in the different metropolis.

According to the Report, Barcelona is positioned as Spanish fashion capital, with an average of 142 customers per day compared to 124 in Madrid, 102 in the cities of Group I and 56 in the cities of Group III.

These are some of the conclusions drawn from the second BIG DATA Report about the Consumers Behavior published by TC Group Solutions and made from aggregated BIG DATA calculations based on the thousands of data that are obtained daily from the sensors the company has installed throughout the 360 shopping streets of the 23 Spanish cities with more than 200,000 inhabitants.

 

 

MORE ABOUT TC GROUP SOLUTIONS

Born as T-Cuento Soluciones in 2007, today TC Group Solutions analyses BIG DATA that interact with Retail’s organizations.

With the head office in Barcelona and other owned branches in Paris, Milan and Bogota,   TC Group Solutions is present in more than 25 countries of four main lands, with more than 15.000 installed sensors which are collecting millions of data, anonymous and aggregated, about the people behavior and flow around the world.

 

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TC Group presents the first BIG DATA Report about the Consumer Behavior

The average traffic in Madrid rises by 3.9% and by the 7.8% in Barcelona. The 35% of the clients that enter in a store end up buying something. It cost the same obtain a client in Paseo de Gracia, in Barcelona and in the Av. Maisonnave of Alicante.


The ecommerce online platforms, the possibility of buying throughout the mobile applications and other technologies have brought a structural change in the retail sector which, in turn, has caused a rise of the demand in the “preferred locations”.


With this hypothesis as starting point and using the 6.000 and more data collected by the installed sensors inside and outside in the Spanish commercial establishments, the company TC Group Solutions has elaborated a BIG DATA study about the consumer behavior in the commercial street along 2015. This allows organization to know the average value of the pedestrian traffic and other indicators as the cost per potential client, the attraction and conversion rate, in order to calculate the profitability of the street and the commercial site in concrete.


The Dr. Carlos Torrecillas, professor Appointed of the Marketing Direction Department at ESADE, is the author of the study’s prologue that also gave the introducing and welcoming speech at the presentation. With his conference titled “From dowsers to ultrasounds” he gave prestige to the study, arguing that “the water seekers have become professional figures thanks to TC Group that - with its BIG DATA systems able to read and combine billion of data coming from different sources such as pedestrian traffic, the commercial spaces’ rent prices, the clients’ entrance in the stores and the sales tickets – is able to offer real data, a GPS, of what is happening in the Spanish commercial streets, information – he said – that till now was not available and therefore, it can be compared to the dowsers’ water research”.


Then, the founder and CEO of TC Group Solutions, Álvaro Angulo, underlined the general goal of study which consists in “provide a real radiography of the pedestrian traffic behavior in the Spanish commercial streets, creating useful information to the management of the commercial location according to their profitability, activity sector and commercial brand”.


In its turn, Marta Fernández Melgarejo, marketing director of TC Group Solutions, presented the study’s results that have been separated in four different chapters, in order to show the information that a good management of Big Data can generate.


The first chapter collects the data about the pedestrian traffic behavior in the Spanish commercial streets in 2015 respect to 2014, underlining e clear difference between Madrid and Barcelona. Meanwhile in the capital the traffic increased among the year, thanks to the good results of the first trimester, in Barcelona each month the average daily traffic was lower than the previous exercise. During the totality of the year, the monthly traffic rose by 3.9% in Madrid and decreased by 7.8% in Barcelona. In the capital, the traffic started the year re-launching for three times the double of the amount between January and March. From July to October, the pedestrian average in Madrid has been low, to come back rising in November and December.


The best month in Madrid was December, when the commercial streets in the capital counted a daily average of 5,673 people passing by. In Barcelona it was May, with 6,031 pedestrians. The week with the best pedestrian traffic in Madrid was precisely the last of the leap year (number 53) with an average of 6,396 daily pedestrians in the commercial streets of the city. In Barcelona it was the Sant Jordi week, saint of Catalonia (23rd of April), with an average of 6,486 pedestrians. In both the cities the lower traffic was concentrated in the week of August.


Wednesday 30th of December was the day with the higher traffic in Madrid in 2015, with 7,761 pedestrians as average in the commercial streets of the city; in Barcelona the record was again signed by Thursday 23rd of April, festivity of Sant Jordi, with 8.896 pedestrians as average in the principal commercial streets of the Catalonian city, even if it lowers by 5.9% respect to the previous year.
In the days in which the activity of the commercial streets reached the lowest level in Madrid and Barcelona, the traffic amounts to 2.500 pedestrians. In the capital, the lowest traffic was registered Sunday 16th of August, with 2,471 pedestrians, while in Barcelona the minimum was registered Sunday 1st of February, with 2,478pedestrians.


The “BIG DATA Report about the Consumer Behavior 2015” permits to know also the results of the pedestrian traffic grouping them (II Group of the Report) according to the five regional metropolises between 300,000 to 1billion habitants: Valencia, Sevilla, Bilbao, Zaragoza and Málaga. This group has seen the pedestrian traffic lowering by a 2% in 2015.


The cities classified in the III Group (cities between 200,000 and 300,000 habitants: La Coruña, Vigo, Oviedo, Santander, San Sebastián, Pamplona, Valladolid, Salamanca, Alicante, Murcia, Córdoba, Cádiz, Granada, Palma de Mallorca, Tenerife and Las Palmas) lowered by 7.1% their pedestrian traffic respect to 2014, till an average of 3,479 people per day in the commercial streets. The evolution of these cities was negative in all the months, even if the fall was braking thanks to the following months of commercial exercise, that fall only by the 2.2% in November and 1.7% in December.


COST PER POTENTIAL CLIENT


The cost per potential client is a data which allows a brand or a retail chain to identify the profitability of a determined area or location in the Gran Vía Madrileña, the cost per potential client in 2015 settled at 3,5 euro cents, taking into account the average pedestrians ratio (16,766 people a day) and a reference rent price of €220 per month per squares meters.


On the other on Paseo de Gracia, one of the principal streets of Barcelona, the cost per potential client lower by 2,6 euro cents in 2015, taking into account the average rent price of €230 per squares meters in the local in the Barcelonese street and the number of pedestrians which every day pass by them: an average of 23,442 pedestrians.


ATTRACTION RATE


The second chapter of the Report is dedicated to the purchase intention of the consumers, an indicator that the company defines as the attraction rate, calculated throughout the pedestrian traffic that pass in front of a certain commercial position and the real number of people who enters the store.


While the commercial street of Barcelona in 2015 lowered their number of pedestrians respect to 2014, the capacity of attraction of the store was relatively higher. The attraction rate in the Catalonian capital reached an annual average of 18.6% respect to the 17.1% of the previous year.


In Madrid, on the other hand, the traffic rose but the ratio of the pedestrians which enter the store lowered from the average of 17.3% in 2014 to 9.5% in 2015. January in Madrid was the month with the best attraction traffic, with a 14.4% total of pedestrians; nevertheless it lowered respect to the 14.5% of the attraction rate of the previous year. In the commercial streets of Barcelona, the highest attraction rate, of 24.8% of the total traffic, was obtained in July.


The conversion rate that measure the number of visitors of a store that ends up purchasing something, settled at 41.68% in February 2015 in Barcelona. On the other hand, in the period from July to September it registered the worst conversion rate of the Catalonian city, respectively with a 29.41%, a 29.86% and a 28.19%. In November and December, the percentage of the clients in the commercial streets of Barcelona that realized a purchase did not outmatch the 35%, while in the same period of the previous year it passed the 40%. In Madrid, meanwhile, the highest pic in terms of conversion was registered in December, when the ratio of buyers settled at 41.97% of the clients. In the capital, May noticed the lowest conversion rate of 2015, with a 30.46%.


CONVERSION RATE


Fashion Sector
TC Group has designated the last chapter of the study to the analysis of the consumer’s behaviors for fashion and accessories brands in the different metropolis.


Therefore, in Madrid, the quantity of pedestrian that felt persuade by the commercial establishment specialized in selling fashion items during 2015 was lower respect to the previous year. For months, the Spanish capital maintained a stable pace lower than 12% in the attraction rate, registering the best result in January (11,6%) and the worst in April (6,9%).


In Barcelona, on the other hand, the quantity of people that passes by a fashion commercial establishment and entered it increased respect to 2014. The city registered several pics during the year, especially in April (46.2%), June (38,8%), and July (43.9%). The month with the highest difference respect to 2014 was September, with an attraction rate that doubled the one of the previous year.


These are just some of the conclusions that is possible to extract from the first BIG DATA Report about the Consumer Behavior elaborated by TC Group Solutions using the extensive data collected by our more than 10,000 sensors installed in stores over 20 countries around the world, along with the thousands of transactions that are carried out daily at our client's points of sale and the rental prices of the commercial premises.


More about TC Group Solutions


Founded in 2007 as T-Cuento Soluciones, today TC Group Solutions leads the market in the development of all types of solutions for collecting and analyzing BIG DATA inside and outside commercial establishments, inside and outside commercial establishments.

After its market entry in Paris in 2011, TC Group Solutions adds in 2015 two new companies to the group: T-Cuento Italia in Milan and Data Retail in Bogota.

Today, TC Group Solutions is present in more than 20 countries around 4 continents with more than 4,500 points of sale installed, directly or through exclusive trusted distributors.

 

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TC Group Solutions launches an APP to optimize the management of points of sale
  • TC Group Solutions, specialized in collecting and analysing BIG DATA inside and outside commercial establishments, has launched into the market one APP to optimize management of points of sale and it is going to present it in the EuroCis fair in Düsseldorf (23-25 February).

 

                                      APP TC Analytics 

The APP, TC Analytics, is available for Android and iOS, and it is a configurable control panel where you can visualize and compare the main Retail KPIs: outside traffic, number of visitors, capture and conversion ratesdwell time, occupancy, among others.

Besides the APP, that will be displayed in its stand 10F29, the company will also present its Intelligent Display, the showcase which makes it possible to recognize the gender and age group of the observer, dwell time in front of a product and frequency of visits to the point of sale, in addition to all its other Retail Intelligence solutions.

In EuroCis TC Group will present to the German market its extensive product portfolio for Retail Intelligence: count of the outside traffic and the visitors to the store, identification of hot zones, repetition of visits and frequency through wi-fi, client segmentation and client satisfaction, as well as the software of BIG DATA TC Analytics, which allows analysing all this data and contrasting it with the own variables of each Retail business, everything from this user-friendly APP adapted to mobiles and tablets.

All these solutions focus on finding effective ways to increase company profitability, commercial efficiency and improve customer service, meanwhile identifying new business opportunities

According to Alvaro Angulo, CEO of TC Group Solutions, “with our participation in the EuroCis fair we want to analyze the German retail market to see which adaptations this market can require, as well as contacting with possible distributors and installers.”

 

More on TC Group Solutions

Founded in 2007 as T-Cuento Soluciones, today TC Group Solutions leads the market in the development of all types of solutions for collecting and analysing BIG DATA inside and outside commercial establishments, inside and outside commercial establishments.

After its market entry in Paris in 2011, TC Group Solutions adds in 2015 two new companies to the group: T-Cuento Italia in Milan and Data Retail in Bogota.

Today, TC Group Solutions is present in more than 20 countries around 4 continents with more than 4,500 points of sale installed, directly or through exclusive trusted distributors. 

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TC Group Solutions opens new branches
  •  TC Group Solutions, the company specialized in obtaining and analyzes BIG DATA for companies in the RETAIL sector, increases its presence in Europe and makes its way in Latin America.

 

After it entered the French market, TC Group Solutions continues its European expansion launching T-Cuento Italia.

This new society has a share equal to 70% from TC Group Solutions and 30% from Venticento Srl, the Italian company dedicated to the development of CRM for retailers, with seats in Milan and NY. According to Enrico Dellù, Venticento’s general director, this alliance is key due to the fact that this collaboration can bring further innovations and technological tools which are needed by the big player in the current Italian retail market.

In the Colombian market, TC Group operates through the company Data Retail, a joint venture created with Viatek Group which is specialized in the technological sector. Actually, Data Retail is distributing Retail Intelligence solutions provided by TC Group together with the services and products offered by Viatek. In short, the range of merchandise will grow in order to better the commercial efficiency.

For next year, the Spanish company plans to grow in its homeland market, consolidating its presence in the French one and approach Germany.

According to Alvaro Angulo, CEO of TC Group Solutions, "with our participation in EuroCIS fair (23-25 February), the leading business event for Retail Technology in Düsseldorf, we will analyze the German retail market to feel what adaptations may be required, as well as contact potential distributors and installers"

 

More about TC Group Solutions

Founded in 2007 as T-Cuento Soluciones, today TC Group Solutions leads the market in the development of all types of solutions for collecting and analysing BIG DATA inside and outside commercial establishments, inside and outside commercial establishments.

After its market entry in Paris in 2011, TC Group Solutions adds in 2015 two new companies to the group: T-Cuento Italia in Milan and Data Retail in Bogota.

Today, TC Group Solutions is present in more than 20 countries around 4 continents with more than 4,500 points of sale installed, directly or through exclusive trusted distributors. 

Download our Press Folder.

 

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The Intelligent Display, which indicates buyers' profiles and emotional reaction
  • Disme and TC Group Solutions have worked together to develop an intelligent display which enables store managers to identify shoppers' profiles, their emotional reaction to a certain product, dwell time, as well as the frequency of visits to point of sale.

 

Intelligent Display_1    

 

The two companies, Disme and TC Group Solutions, leaders in the PLV and in collecting and analyzing BIG DATA for Retail sector, have allied to develop and commercialise together the Intelligent Display, a revolutionary device that turns a conventional display into a powerful weapon of sale for advertising brands and retailers. It is a face recognition device with a wi-fi receiver placed in a strategic place on the commercial furniture and/or product display, possibly in the showcase or inside the stores, that makes it possible to recognize shoppers' genders, age groups, and how long they have been interacting with a certain product.

The software is also able to recognize the frequency of visitors to the point of sale, a very useful data for brands when determining if a product is sold on impulse or if it's been a planned purchase both to non-frequent customers and loyal clients. For retailers, all this information helps them know the most visited areas in their commercial establishments and define product layout better according to consumer profile.

In addition, this revolutionary product incorporates an independent GPRS system that stores recognition data and sends it in real time to advertising brands in order to speed up the decision-making process. The investment brands and retailers make in technological solutions that enable them to acquire first-hand information about their clients and the reality of what happens in their stores is increasing steadily.

The Intelligent Display is very easy to install at any point of sale and is commercialised throughout the EU. Both companies have already begun to implement it in Spain among their clients, and plan to launch it in the French market in the Digital (In)Store trade fair in Paris, next 23 of September.
 

More on Disme

Founded in 1962 it is the pioneering company in PLV and commercial interior design solutions in Spain. With its headquarters in Barcelona and a 22,000 m2 production center equipped with the most modern technology, at present Disme has branches in France and the UK and exports 65% of its production to more than 50 countries. Disme offers turnkey services starting from the concept, market test, production, logistic and finally installation anywhere around the globe.

More on TC Group Solutions

Founded in 2007 as T-Cuento Soluciones, today TC Group Solutions leads the market in the development of all types of solutions for collecting and analysing BIG DATA inside and outside commercial establishments, inside and outside commercial establishments.

After its market entry in Paris in 2011, TC Group Solutions adds in 2015 two new companies to the group: T-Cuento Italia in Milan and Data Retail in Bogota.

Today, TC Group Solutions is present in more than 20 countries around 4 continents with more than 4,500 points of sale installed, directly or through exclusive trusted distributors.

 

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TC Group Solutions enters the food and beverage industry to measure customer loyalty
  • TC Group Solutions enters the food and beverage industry to measure customer loyalty and frequency of customer visits.

 

The increase in the number of operators in the food and beverage industry forces brands to know in more detail the behavior and shopping habits of their clients, to be able to adapt products, offer a wider variety and promote special sales at the point of sales.

In order to help the companies in this new challenge, TC Group has incorporated in its people-counting solutions a small Wi-Fi receiver that allows to differentiate the percentage of new clients and regular clients, and to measure the frequency of repeat visits of the later, in supermarkets and hypermarkets.

According to Jordi Bartoli, CTO of TC Group Solutions, “although wi-fi counters are not the most suitable option to calculate conversion ratios, as they are only able to take into account 40% of client entries, they are important to calculate customer loyalty as long as we combine their data with the data originated from other reliable people-counting solutions ”.

For that reason, TC Group Solutions has incorporated this double measurement tool in all of its counting systems for those establishment chains that want to know the percentage of repeat clients who enter their stores and the frequency of repetition. This is the way TC Group Solutions has begun to offer its solutions to local supermarkets.

 

More on TC Group Solutions

Founded in 2007 as T-Cuento Soluciones, today TC Group Solutions leads the market in the development of all types of solutions for collecting and analysing BIG DATA inside and outside commercial establishments, inside and outside commercial establishments.

After its market entry in Paris in 2011, TC Group Solutions adds in 2015 two new companies to the group: T-Cuento Italia in Milan and Data Retail in Bogota.

Today, TC Group Solutions is present in more than 20 countries around 4 continents with more than 4,500 points of sale installed, directly or through exclusive trusted distributors.

 

 
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