Sales = Traffic x Conversion: The Complexities of a Simple Equation

Knowledge of traffic and conversion is essential to measure and maximise sales opportunities across stores, however the knowledge of traffic and conversion by category display within the store reveals the mysteries of the shopping experience and promises the riches of increased sales productivity for every gondola, wall and precious retail square metre.

 

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What retail success boils down to is selling as much as possible to as many people as possible. In the context of any retail business this is very much in line … Continue reading

6th Joy of a Retail Spring – Secrets behind Product Sales

Any good retailer knows from its product sales what its customers’ buy and equally what seems to be impossible to sell to them, but why? Do you know why?

Is it simply the wrong product, or perhaps something more subtle in the colour, the size, the style or the taste, or simply something as obvious as the price point? Proper analysis of sales figures combined with benchmarking of competitor assortments holds the key to unlocking further the potential spending of our customers.

 

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Through identifying the hierarchy of … Continue reading

1st Joy of a Retail Spring – Understanding customer behaviour

1st Joy of a Retail Spring – Understanding Customer Behaviour

Make it your new year’s resolution to understand how your customer behaves inside your stores. In many ways having got them into your store you’ve done the hard part, and everything they do, and everything they buy now, is a bonus that cannot be ignored.

 

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The key is understanding how your customer reacts to your store, your product display, your layout, your service and everything else that can convert a sale.

Understand what is … Continue reading

The Battle to Change Retail Location “Mind-Sets”

Who’s the real competitor? Who’s the real enemy?

The massive changes that have swept across this land and others, the decimation of high streets,  town centres and the taking away of the retail heart of communities, though tragic and physically real are the result of a shift in mind-set. The mind-set and shopping patterns of the customer.

 

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And whilst there are a range of practical measures that must be taken physically on the ground and through legislation to create a viable landscape to rebuild … Continue reading

“What on earth is happening in my stores?!”

“How can I actually know for certain what is happening in my stores and what my customers are doing, and so ultimately know what to do to improve their experience and my commerciality?”

 

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It is still a widespread scenario that head office retail functions do not know what is happening hour after hour, day after day, inside their stores.

The situation is symptomatic of the gap that still exists in many retailers between head office and stores, and the lack of communication and integration … Continue reading

Retail analysis: The Usual Suspects – Personalisation & Patterns

It’s very easy for a retailer to go chasing in circles attempting to catch the evasive scraps of essential new data, insights and analysis blown into a constant ferment by the prevailing winds of new information. Throw into this cyclone complex omni-channel data, progressively pervasive loyalty programme insights, beacons pursuing the personalisation profile of every customer and we have nothing less than a hurricane force of facts at our out-stretched fingertips.

 

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Important as these insights are, in many cases incremental opportunities to improve … Continue reading