What do customer traffic statistics do? What problems can they help you solve?

        Can POS data alone truly reflect the sales situation of your store? ？

        What level of conversion is the store achieving?

         What factors are involved in rises or falls in conversion rates?

Value of Traffic Statistics   

        1)  Understand traffic data in a store or mall

        ● Number of customers entering the store over a day, week, month, quarter or year.

        ● Query collective traffic data for multiple stores

        ● Traffic statistics at different times in the mall/shopping center

Single store – Daily traffic analysis report

Multiple stores – Weekly traffic analysis report

Multiple stores – Monthly traffic analysis report

         2) Understand the trends in traffic data and make historical comparisons

        ●  Customer traffic data for stores in different regions, geographical locations and business districts

        ●  Superimpose traffic data from different times for comparative analysis

        ● Examine trends and averages

        ● Analyze the impact of weather on traffic changes

        ● Analyze changes in traffic after store/mall promotions

        3) A combination of traffic data with sales (POS) data is necessary for in-depth marketing analysis – relying on just one of these sources is not sufficient to reflect the true operating conditions in the store. Only when both data sources are taken together is it possible to get an accurate insight into problem areas, and rectify these to enhance retail performance.

        ● Combine traffic data with POS data to analyze conversion rates, per-customer transaction etc.

        ● Examine the causes of rises or falls in conversion rates and identify the problem areas.

        ● Blend together inventory information, promotion measurement and staff service levels to improve store performance.

 

        ■  Sample analysis of relationship between customer traffic and conversion rate

        ■  Key performance indicator 1: Customer traffic and conversion rate

        ■  Focusing on two days with lower than average conversion rates (Monday and Sunday), what kind of extra value would be created if the conversion rates for these two days could be brought up to the average level or higher?