Telecom Retail: 3 strategic questions in-store traffic data can answer for telecom retailers

Article
by ShopperTrak on 09-25-19

With mobile technology evolving so fast, telecom retailers are working hard to meet newly-emerging customer needs. Shoppers often require specialist help when buying the latest handsets and accessories, setting up service contracts and loading apps. People counting technology can ensure the right numbers of sales assistants are available, and sales and service opportunities optimized.

Our latest market report Fully charged for the future reveals how telecom stores can boost performance by using footfall analytics.

Here are three performance areas footfall data can help telecom retailers improve:

“How can I convert more customers in store?”

Traffic counting makes it possible for the conversion rate in a particular store to be calculated by measuring the number of visitors against total transactions for the day. Store managers can then set in place strategies to increase the conversion rate, and track the success over time – perhaps before, during and after a major training initiative or the introduction of a staff incentive program.

Conversions typically go up when staff resourcing has been successfully optimized. Traffic data makes it possible to plan staff cover so that when, for instance, advertising campaigns kick in and visitor numbers are expected to rise, opportunities to assist in-store and complete sales are not missed. With the right STAR (Shopper-to-Associate Ratio) in place, retailers can ensure enough staff are on hand to help customers complete their purchase.

“How does my telecom store traffic compare with other stores?”

It’s hugely valuable for stores to know how well they are performing. Underperformance can be spotted and dealt with quickly if traffic is dropping below the market norms. ShopperTrak’s Market Intelligence solution provides retailers with powerful benchmark data, which reveals how in-store traffic compares to other retailers in the area.

Retailers operating a portfolio then have scope to segment stores according to their traffic performance, pouring more marketing resources into those sites that desperately need a traffic boost. Where some stores are routinely outperforming other stores, head office can leverage the best practice initiatives to the benefit those stores.

“Where are my sales gaps?”

Telecom retailers around the world are using people counting technology to detect missed sales opportunities in their stores – flagged up where traffic is abundant but conversions low.

Lunchtimes can present the classic missed sales opportunities in telecom stores. A chain may ascertain that traffic peaks between midday and 2pm on weekdays, yet conversion remain steady all day. This suggests shoppers want service during their lunch breaks, but because too few sales assistants are available during these ‘power hours’ shoppers give up, and sales are lost. By updating the staff schedule to maximize cover at lunchtimes, a store can begin to see conversions rise. And this can be tracked over time to ensure best practice is maintained.

Are you ready to push the limits of telecom store performance? Read our new report to find out how.

Download the report for free here: Fully charged for the future

Read more posts by ShopperTrak