How to use retail data to enhance business profits: increase conversion ratio, average transaction value and number of items per transaction.
Many retailers collect people counts, but few use the information to its full potential. Here’s why they are missing out on easy opportunities to grow sales. It’s not the number of people going into the store on which they need to focus, but what the potential customers do when they get there. Converting more browsers … Continue reading Why retailers miss easy opportunities to grow sales
How much customers buy is a direct result of how long they spend in a store. The longer the average shopping time, the more a store sells. The shopping time reflects the overall level of service in the store. The better the service, the longer people stay and the more likely they are to make … Continue reading Revealed: why a longer ‘average shopping time’ pushes up retail sales
How to maximise the business potential of every customer entering the store with smart retail analytics
Getting the most out of footfall analytics – bring together diverse groups in the planning stage
Webmasters are superstars at analysing visitor data. What can retailers learn from their approach? One metric that stores are stealing from websites is Visitor Value. This is the average spend of each visitor that enters a store (or website). If you can increase your visitor value then sales follow. On a website this might be achieved … Continue reading The secret of visitor value: why high street stores are using the same metrics as web sites