Choosing where to expand is a common and crucial decision for successful retail businesses. Metrics such as favorable demographics, accessibility, visibility, and proximity to competitive offerings are important considerations when selecting a new site. However, perhaps the most important metric of all – knowing the trend of foot traffic at a candidate site – is frequently overlooked at decision time.
Posted 12.07.2011
ShopperTrak provides guidance for retailers in planning and staffing for the day after Christmas (December 26) and Christmas Eve (December 24), 2011. Since the days of the week in which these busy shopping days fall continually shift from one holiday season to the next, planning and staffing for these key days can be difficult. Our purpose is to provide a framework for proper planning and staffing for these dates in 2011.
Posted 11.22.2011
Implementing a traffic management program involves more than simply installing equipment, linking to a network and reaping the rewards of intelligent business metrics. A well-planned and well-executed field communication strategy can help field personnel understand the program, its objectives, and how this new business intelligence can: increase labor efficiency, improve conversion rates and deliver bottom line success to the company and its local operations. Overcoming hurdles in the field is essential to garnering optimal ROI from a traffic management system, and a clearly articulated communication plan helps align an organization’s efforts, from headquarters to the selling floor.
Posted 11.11.2011
The top line. Power Hours are the peak selling times that occur during a week, generating the heaviest amount of store traffic and sales opportunities. It is critical for retailers to know when these peak hours are likely to occur so that stores can be prepared and properly staffed. Traffic information serves as the key barometer in helping determine appropriate staffing levels -- not simply the number of associates present, but also the skill sets necessary to optimize sales in the busiest areas of the store. The negative impacts of not having a clear picture of Power Hours can be both immediate and long-term: missed sales during peak periods, and dissatisfied customers who may decide not to return due to long lines and poor service.
Posted 10.14.2011
Know more, grow more: the realities of retail growth. Retail growth is essentially the result of increasing the frequency and size of transactions each year. It can be achieved by implementing one of several different strategies. Traditional transaction growth strategies include: building more locations, expanding existing stores, or concentrating marketing activities to drive traffic. Each technique's success is measured on the sales result. The challenge with these growth strategies is that they do not fully leverage or measure against existing investments: How are you capitalizing on the potential customers who have already walked through the door to drive sales growth?
Posted 08.31.2011