Site Analytics. A sharper view of retail site performance

Transcription

1 Site Analytics A sharper view of retail site performance

2 YOU NEED TO KNOW THE INGREDIENTS OF SUCCESS SO YOU CAN REPEAT IT We know it s tough for retailers out there. A challenging economic climate, fierce competition and consumer price sensitivity means that only those stores responding to the demands of today s consumer will survive, much less thrive. Success depends on striking the right balance between good customer service and keeping costs under control at the same time understanding the effect on your store of external factors like public holidays, extreme weather and major events. INFORMATION WHEN AND HOW YOU WANT IT When it comes to monitoring performance, you are in total control. You can opt to receive instant alerts to your mobile device when specified performance thresholds are crossed, choose to receive detailed reports via , or track and interrogate performance at any time of the day or night via a secure web portal and interactive dashboard. Historically, the degree to which retailers achieve this goal has been dependent on the expertise and experience of individual store managers. The problem is not a lack of information: as you know only too well, you are deluged with information from numerous disparate sources. In our experience, it is the inability to view this information in context and see patterns over time that has held retailers back until now. PINPOINT PRIORITIES FOR ACTION Site Analytics gives retailers an all-round view of site performance. This groundbreaking, cloud-based service combines information from a wide range of sources to give you an unprecedented 360 view of your business, providing immediate operational insight into performance improvement priorities across your entire portfolio. Built on Experian FootFall s rich retail heritage in footfall traffic counting and analysis, the software consolidates live data feeds, in near real-time, on the many complex factors that affect store performance. The fully integrated system enables you to view not only footfall figures, but also queue lengths, sales data, staffing levels and costs, promotions in force and even the prevailing weather conditions to give context to previously bald performance figures. This powerful operational tool enables your staff at all levels, at head office or on the shop floor, to act quickly to address underperformance and reveals previously unnoticed performance patterns over time. AS INDIVIDUAL AS YOU AND YOUR NEEDS Site Analytics has been built to accommodate multiple languages and time zones and automatically switches to the preset requirements of users across the globe. Flexible and intuitive to use, the analytics platform is designed for self-administration and customised reporting. 2

3 IN SHORT, SITE ANALYTICS ENABLES YOU TO UNLOCK LATENT STORE POTENTIAL INCREASE STORE PROFITABILITY AND CUSTOMER SERVICE TRACK THE EFFECTIVENESS OF MARKETING INITIATIVES REFINE OPERATIONS IN EVERY INCH OF THE STORE IDENTIFY YOUR OPTIMUM RATIO OF STAFF TO CUSTOMERS IMPROVE YOUR CONVERSION RATE AND AVERAGE TRANSACTION VALUES 3

4 BOOST BUSINESS PERFORMANCE IMPROVE YOUR CONVERSION RATE Understanding your conversion rate puts store performance in perspective. By looking at historic trends in context, you can build a picture that tells how many people leave without making a purchase, identify possible reasons for this and pinpoint whether there are any specific times when the store can improve. More targeted staff rostering ensures service does not suffer during busy periods, improving the percentage of shoppers converted to customers. As Site Analytics reports visitor traffic in near real-time, you will know whether your staff shift change has caused a dip in conversion just an hour after the event, giving you time to respond. INCREASE STORE PROFITABILITY AND CUSTOMER SERVICE Numerous diverse factors affect the dynamic retail environment, ranging from store layout and queue lengths to marketing initiatives and competitor activity. Often it is the small changes that enable stores to make a big impact over time. Picture your sites increasing sales by just 1% on their worst day of the week simply by making a minor adjustment to the way they operate! Site Analytics helps you spot opportunities for improvement by highlighting the differences between your good and bad days, replacing hunches with hard facts and uncovering correlations and trends. In other words, it can inform your decision-making and help you influence profitability and service levels. IDENTIFY YOUR OPTIMUM RATIO OF STAFF TO CUSTOMERS Site Analytics will reveal the point at which the number of staff will deliver the greatest return. This is a finely balanced equation. Adding more staff will increase the conversion rate, items per transaction and average transaction value (ATV), but will it be enough to offset the marginal wage costs? Conversely, reducing the number of staff available to serve customers below a certain level will result in customer service becoming stressed, causing sales and ATV performance to tumble. 4

5 TRACK THE EFFECTIVENESS OF MARKETING INITIATIVES Imagine knowing the impact of a new marketing campaign within an hour of its launch discovering whether your morning site traffic was sufficiently high to meet your end of day sales targets or whether you will need to ramp up sales performance in the afternoon to compensate for a shortfall. UNLOCK LATENT STORE POTENTIAL It would be unrealistic to expect every store to achieve the same level of success: factors such as location and demographics will always have a fundamental impact on store potential. But, at the same time, you need to identify those stores with untapped potential. By benchmarking performance, you can highlight patterns over time and detect even minor deviations in performance across store types and geographies. In this way, Site Analytics enables you to pinpoint stores that are ripe for improvement and flag those that act as a blueprint for best performance across the brand. REFINE OPERATIONS IN EVERY INCH OF THE STORE Site Analytics gives you the ability to break down your retail space into key areas, whether that s a floor, specific department, an entrance or even a particular till. By comparing the various areas or the same area in other locations you can assess the impact of every inch of your space on your conversion rate, service levels, revenue and costs. You can then use this highly detailed information to support important operational decisions such as staffing, checkout allocation, stock presentation, store layout and even the timing and siting of promotions. 5

6 HERE ARE JUST SOME OF THE REASONS WHY YOU CAN COUNT ON EXPERIAN FOOTFALL ASSURED DATA SECURITY FOR YOUR PEACE OF MIND Experian handles millions of items of data on behalf of its clients and its rigorous security framework complies with the international standard ISO Our workforce undergoes stringent background checks and access to data is strictly controlled. All information is held on secure servers in our state-of-the-art Tier IV data centre, which uses the latest technology and physical security methods to ensure the highest possible levels of data security and resilience. EXPERT CONSULTANCY ADVICE Having worked closely with retailers and property managers for over 20 years, Experian FootFall has a deep understanding of the many factors that affect retail and asset performance. We draw on our extensive knowledge and experience to help clients realise the full potential of their sites. As part of the Experian Group, we are able to exploit a broad range of analysis tools including market segmentation and profiling software to identify patterns and opportunities to improve site profitability. UNRIVALLED DATA INTEGRITY Experian has built its $4 billion a year business on the integrity of the data it manages for customers. As a global leader in visitor analytics, Experian FootFall customers are assured of superior collection and auditing of any pedestrian count data and the utmost integrity when it comes to the use and analysis of third party data relating to your site. 6

7 FUTURE-PROOF TECHNOLOGY Site Analytics is built on a robust, resilient technology platform that enables optimum security, integration and performance. It is cloud-based to minimise customers support and hosting requirements and eliminate the capital expense of a physical infrastructure. EXPERIAN FOOTFALL: A PARTNER YOU CAN TRUST You need a partner that s in business for the long haul. A long-established, financially stable company that won t give you any nasty surprises. An innovative market leader who invests heavily in continual research and product development to ensure it stays ahead of the game. That s Experian: a global business that employs more than 15,000 people in over 45 countries worldwide. To take the first step towards gaining new insight into site performance, information@footfall.com today to find out how Experian FootFall can help you increase profitability by delivering a sharper view of retail site performance. 7

8 Experian FootFall contact details Head Office and UK&I T: Australia and New Zealand T: australia@footfall.com China T: china@footfall.com France T: france@footfall.com Germany (including Central and Eastern Europe) T: centraleurope@footfall.com Hong Kong T: hk@footfall.com Italy T: italy@footfall.com Poland T: centraleurope@footfall.com Experian The word EXPERIAN and the graphical device are trade marks of Experian and/or its associated companies and may be registered in the EU, USA and other countries. The graphical device is a registered Community design in the EU. All rights reserved. Spain & Portugal T: spain@footfall.com portugal@footfall.com USA T: usa@footfall.com