There are just three ways for high street stores to increase sales:
- Increase footfall
- Increase conversion rate
- Increase average transaction
Which to prioritise?
It is important to consider all three factors. Simply looking at the overall sales doesn’t give the necessary information to improve things. Indeed, sales figures alone can be misleading. They can lull managers into a complacency that their store is performing better than others when in reality it is not nearly reaching its potential.
For a chain of stores the decision becomes easy when they integrate sales and store traffic data for each shop.
A table comparing stores’ footfall, sales conversion rates and average transactions highlights which area is in need of improvement in each location. This enables store managers to concentrate on their relative weakness and work on getting more people to the store, or turning more of them into customers, or selling more to existing customers.
Measuring footfall gives you the tools to measure key indicators and thus know exactly what will improve store performance.