why retailers need to stop Tip-toeing around footfall
Footfall is not a new performance metric for store retailers, electronic counting systems have been around for more than quarter of a century.
Sure, the technology continues to get more sophisticated and flexible – the latest step forward is being able to differentiate store associates from shoppers – but the fundamental value proposition remains the same: retailers can measure the number of missed sales opportunities. By comparing the number of sales against the number of shoppers, Ipsos Retail Performance can report back to retailers their “conversion rate” and identify times and days when most opportunities failed to convert to sales. The knowledge is just as powerful whether you are a small or large retailer.
In time of tough trading such as these, these performance metrics become even more valuable, particularly when overlaid with other datasets such as store associate rotas. It is often said that retailing is about doing the simple things well, but you would be surprised by the number of stores that send their most experienced staff off on a break at the busiest time of the day – lunchtime. Investing in footfall technology and reporting brings the obvious to the fore and helps ensure that rotas are geared around demand (footfall), so helping to avoid inconsistencies in customer service levels.
Dr Tim Denison, Director of Retail Intelligence explains:
“On the one hand, customer counting is just another valuable tool used by store managers to improve performance. On the other it provides insight to head office teams about the impact of strategic decisions, such as refits, changes to layouts and the launch of new collections, by tracking the changes to store footfall and conversion rate.”
Current sensing technology can even detect the volume of shoppers within areas of stores and the level of interest and interaction with displays and fixtures.
In time of tough trading such as these, these performance metrics become even more valuable, particularly when overlaid with other datasets such as store associate rotas. It is often said that retailing is about doing the simple things well, but you would be surprised by the number of stores that send their most experienced staff off on a break at the busiest time of the day – lunchtime. Investing in footfall technology and reporting brings the obvious to the fore and helps ensure that rotas are geared around demand (footfall), so helping to avoid inconsistencies in customer service levels.