We define footfall also referred to People Counting, Shopper Counting or traffic as the measure of the number of customers visiting a store or mall.
If we can count how many customers come into your store and determining other crucial metrics that are essential to survive in the current retail environment like The conversion rate and also the term ATV (Average Value Transaction). For additional definitions of the terms in the retail industry you can refer to the Retail Analytics Dictionary.
What is the reason I should track my steps?
Footfall calculation is a crucial measurement for store owners and managers who want to boost sales and boost profits. By counting footfall, stores can determine at any point of the day what shopping opportunities they are able to offer in their stores and most importantly, by combining the sales data into what opportunities they’re not taking advantage of.
Knowing your weekly, daily, and hourly retail footfall data will give retailers an extra edge to focus on peak times and convert visitors into customers and optimize the performance of their stores.
The best way to measure footfall
Indicating the number of customers who visit your shop tells you how many purchasing opportunities you’ve had in the store on any given day. When you divide total transactional sales by the footfall statistics during the same time period and determining how many customers were enticed to reach into their pockets and buy something: i.e. you’re conversion percentage.
When you measure the number of customers who visit your store and establishing the ratio of sales, you will be able to concentrate on the areas that need improvement to boost store performance. A few of the information you can gain from measuring, are:
The lowest performing hours
Staff scheduling
Effect on sales volumes
Percentage of customers who buy
Underperforming stores
Marketing effectiveness
Real time footfall traffic
Footfall Counting
After your retail footfall is being monitored and measured (footfall analytics) We can call in our experts to analyse your data to discover trends in your customers and determine the reasons behind what’s happening and the reasons behind it. With these valuable customer behavior information:
How to increase footfall to a stores:
Know what is driving the store’s sales
Find the pattern that matches your staffing
Utilize budgets more effectively
Find out your lowest-performing days regarding conversions
Review and identify low performing hours to increase conversion rates
Based on footfall information area Managers can:
Find out if your marketing efforts resulted in more visits to the stores
Find out which shops offer the most growth potential
Determine the impact that of new training programs for service professionals on increasing conversion rates
Review loyalty card-related events do they generate more traffic? If you use them, and are they selling or just having fun?
Based on footfall information, the Head office could:
Have faith in the future
Learn about trends in the customer
Evaluate the true effect of a brand new concept store or revamp
Make use of the data to discuss lease discussions
Assess and improve the store layout’s performance
Assess the effectiveness of changes that are made to your marketing strategy
Know the significance of promotions at the store
Assess the efficacy of marketing expenditure
Find out how well you are doing against your competition with our RTIs
Determine your brand’s strength. Do your stores have the same patterns of footfall as your competition?
