There are just three ways for high street stores to increase sales:
- Increase footfall
- Increase conversion rate
- Increase average transaction
It’s that simple. But before you can do so you need to measure how you’re doing now. Then decide which to prioritise, comparing over time or across stores.
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 give no idea as to whether a store is dropping short of its potential.
The decision of which to prioritise becomes easy when sales and store traffic data are analysed 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. To find out how contact Retail Sensing – call +44 (0)161 839 6437 or e-mail [email protected]