EDMONTON, Alberta--(BUSINESS WIRE)--A research study released today clearly demonstrates the ability of a new data-driven coaching and analytics program to drive net sales productivity in retail stores. The ‘In-store Traffic and Conversion Study’ released today by RetailWire and HeadCount Corporation documents a lift in net sales productivity of 537 basis points during the test period.
“Physical stores are on the chopping block," says Al McClain, CEO of RetailWire, the retailing industry's premier online discussion forum. “Store traffic counts are on the wane and retailers are battling with online and mobile channels for the attention of digitally-attuned shoppers. Yes, retail execs are experimenting with all sorts of initiatives to drive results, but few have connected the dots to pull the ROI they need from their investments."
More than ever, as store traffic softens, retailers need ways to drive real results in their stores – results that include actual revenue increases. This new study delivers that answer, pulling results from seven discrete experiments spanning four retail verticals. Test stores in the study experienced an average sales productivity increase of $.67 per traffic count. When extrapolated for the 600 retail locations evaluated in the study, that would equate to annualized revenue increases of $33 million.
“No matter what’s going on in the industry, good results don’t go out of fashion,” says Mark Ryski, CEO & Founder of HeadCount Corporation, a pioneer in the science of store traffic and conversion measurement.
With more than a decade of experience working with retailers to improve sales productivity and conversion rates, HeadCount created an innovative, results-oriented approach to data-driven coaching and then devoted nearly a year to proving the efficacy of the program.
“Any provider that claims that their solution can deliver an outcome should be able to prove it,” says Ryski. “Our goals were twofold: first, to prove the efficacy of our approach to conversion improvement, and second, to encourage retailers to embrace the A/B test methodology as a way to evaluate solutions like ours,” Ryski says.
The new In-store Traffic and Conversion Research Study includes:
1. Challenges: Managers face impediments to putting insights into action
2. The Study: Testing the effects of combining data-driven coaching with analytics
3. The Results: Net improvement of 500+ basis points
4. The Learnings: Analytics with coaching made the difference
5. Five Key Takeaways
Available at RetailWire: http://hubs.ly/H02j3db0
As the leading authority on retail traffic and customer conversion analysis, HeadCount provides tangible, actionable insights for use by managers across retail organizations, from executives to store managers. The company has been working with retailers throughout North America for more than a decade. Mark Ryski is the CEO & Founder of HeadCount Corporation and is the author of Conversion: The Last Great Retail Metric and When Retail Customers Count.
RetailWire.com is a uniquely engaging online forum for the retailing industry that goes beyond conventional headline news reporting. Each business morning, RetailWire editors pick news topics worthy of commentary by its "BrainTrust" panel of industry experts and the general RetailWire membership. The results are virtual round tables of industry opinion and advice covering key dynamics and issues affecting the retailing industry.
