“The 12 Gifts of Retail Christmas” for a Happy New Year
On the fifth day of Christmas VM-Unleashed gave to me…
No.5 “How to Make More Money from my Queues!”
An effective and efficient queuing strategy has many benefits from minimising abandonment, loss prevention, incremental impulse sales, loyalty building and customer service engagement
Failure to control and maximise the queuing opportunities means a retailer will never find that “sweet spot” of happy customers willing to queue and engage whilst delivering additional impulse sales
- what is the “sweat spot” for queue waiting time linked to impulse sales?
- how do I minimise abandonment yet expose impulse product?
- what should the relationship be between service time & waiting time?
- should service time relate to queue length and items per basket?
- are my customers queuing where I think they should be?
This is how we help…
Queue Performance Analytics
“How do I improve the efficiency and experience of my store queuing systems whilst increasing incremental impulse sales?”
Overview:
The use of video analytics combined with traditional POS data to monitor customer behaviour and impulse purchasing during queuing
- analysis of queuing patterns and queuing hot spots
- analysis of relationships between queuing times, serving times, queue abandonment and sales per transaction
- analysis of incremental sales linked to queuing time, serving time and impulse product location and display
- analysis of queuing behaviour by time of day, day of week
Benefits:
- identify the best queue management strategy for location of queues, type of impulse merchandisers, categories of impulse product and placement of impulse merchandisers
- Identify the “sweet spot” to generate the maximum impulse purchases , from minimum queue abandonments and optimum waiting time
- Identify the best management of service time related to loyalty communication and impulse sales, dependent on queue length, waiting time and items per basket
Process:
- Interviews with HQ and store personnel to understand the queuing issues
- Interviews with buying & merchandising teams to understand impulse assortment commercial issues
- Interviews with marketing & store ops to understand the loyalty service process
- Visits to pilot stores and planning of video camera locations
- Study of activity patterns and sales patterns through till systems
- Analysis of the relationship between all queuing KPIs and incremental sales
Aggressive actions (from a potentially long list):
- change and modify the impulse display products
- change the process for opening new tills
- change the customer service “conversation”
- change the physical queuing layout
For more information on how queue performance analytics can help…
Please get in touch. We’ll be happy to help & advise…
+44 (0)7967 609849 tim.radley@vm-unleashed.com