How a retail weakness can be turned into a strength
E-commerce stores can’t survive without counting visitors and analysing key performance indicators, but relatively few bricks and mortar businesses count how many people enter their stores. Without this knowledge retailers can’t calculate sales conversion or other traffic analytics. What might they gain from doing so? According to Tony Costa, writing in the Harvard Business Review … Continue reading Store Traffic Analytics are Transforming Retail
Retailer sets rolling sales conversion targets using 5-minute footfall counts and significantly increases sales.
Acting on footfall trends can maintain profitability even in harsh trading conditions. The key is to analyse the fine details rather than just looking at the big picture. Zooming into various indicators lets retailers identify badly performing areas and act to improve matters. For example by: – Comparing footfall and sales conversion at different hours … Continue reading How important is footfall data?
Using retail traffic counting, stores can more efficiently schedule staff and thus increase sales. When shoppers aren’t sure what to buy, and don’t get helpful advice from retail staff, 90% of them leave empty-handed, according to a recent consumer survey. A video retail traffic counter shows hourly, half-hourly or even 5-minute break-down of the number of people entering the store. The counts can be integrated with a workforce management system, making it easy to create better forecasts and staffing schedules
It gets worse. If the 90 percent of shoppers had received the help from shop assistants, 86 percent of them would have purchased even more than planned.
Thousands of shoppers walk into stores looking for guidance on what to buy, but nearly 90 percent leave empty handed when they can’t find the help they need, according to a consumer survey by TimeTrade. Even worse, if these shoppers had received the help they needed then 86 percent of them would have bought more … Continue reading 93% more likely to buy with optimal staff levels