Embed Size (px)
Citation preview
© Ipsos | Doc Name | Month Year | Version # | Public | Internal/Client Use Only | Strictly Confidential© Ipsos | Future of Research Webinars 2020 | Public
Future of Research Series
MAXIMISING SALES IN UNCERTAIN TIMES
© Ipsos | Future of Research Webinars 2020 | Public
The aim of today is to
demonstrate how, in
these uncertain times,
retailers can maximise
OPPORTUNITYin terms of conversion
to purchase and ‘size
of basket’
© Ipsos | Future of Research Webinars 2020 | Public2
© Ipsos | Future of Research Webinars 2020 | Public
Rosie Clayton
Research Director
Mystery Shopping
Deli Carter
Key Account Manager
Retail Performance
© Ipsos | Future of Research Webinars 2020 | Public
Speakers
3
Guest speakers
Richard Braybrook
Group Head of
Retail Operations
Adam Moore
Head of Customer
Experience
© Ipsos | Future of Research Webinars 2020 | Public
Lockdown / recession
Lower footfall & lower spend
© Ipsos | Future of Research Webinars 2020 | Public4
© Ipsos | Future of Research Webinars 2020 | Public5
41.7%UK OVERALL
39.1%Northern
England
42.5%The Midlands
46.2%London &
The South East
42.5%Scotland
& N Ireland
42.7%SW England
& Wales
UK High Street footfall is down year on year
Source: Ipsos Retail Performance UK Retail Insight Pack. August 2020
+5%
pointsSALES
CONVERSION
© Ipsos | Future of Research Webinars 2020 | Public
Average family spending power also down
6
Family
spending
power fell by
£5a week year
on year
Source: Ipsos Retail Performance UK Retail Insight Pack. July 2020
© Ipsos | Future of Research Webinars 2020 | Public
Fears around using public transport and public spaces
7
15%
27%
29%
25%
20%
65%
62%
60%
59%
55%
Going to bars
and restaurants
Using public
toilets
Using public
transport
Going to indoor gyms / Leisure
centres / swimming pools
Going to large public gatherings
(sport/music events)
Very/fairly comfortable Not very/at all comfortable
Source: 1,078 Online British adults aged 18-75, 26-29 June 2020
Recent mystery shopping has shown the impact health and safety metrics have on behaviour
© Ipsos | Future of Research Webinars 2020 | Public8
© Ipsos | Future of Research Webinars 2020 | Public
Source: Ipsos Health & Safety Index Mystery Shopping. N=630. Mystery shops conducted between 6th July and 20th July 2020
Health & Safety fears could continue into the future
9
35%
of shoppers
would stop
shopping at a
retailer if they
were not taking
health and safety
seriously
42%Increasing to
over 4 in 10
amongst the
over 55s
45%of shoppers assessing
the clothing store that
performed worst on
health & safety
did not feel safe and
would not return
© Ipsos | Future of Research Webinars 2020 | Public10
© Ipsos | Future of Research Webinars 2020 | Public11
88%of shoppers assessing
the clothing store that
performed best on
health & safety
did feel safe and said
they would return.
© Ipsos | Future of Research Webinars 2020 | Public
Ideal State
12
Opportunities
Quantify opportunity
on arrival
Arriving in desired area
Brand promises
delivered
operationally
Interaction with the
POS display area
Stock is well presented
and available
Sales
© Ipsos | Future of Research Webinars 2020 | Public
Reality State
13
Opportunities
Quantify opportunity
on arrival
Arriving in desired area
Brand promises
delivered
operationally
Interaction with the
POS display area
Stock is well presented
and available
Sales
© Ipsos | Future of Research Webinars 2020 | Public
Running Blind
14
Opportunities
Quantify opportunity
on arrival
Arriving in desired area
Brand promises
delivered
operationally
Interaction with the
POS display area
Stock is well presented
and available
Sales
© Ipsos | Future of Research Webinars 2020 | Public
Step 1. Create visibility, measure
each stage
Step 2. Understand variation
Step 3. Create action plan to align
stages
Step 4. Diagnose critical variations
and waste processes
Step 5. Deliver performance
Step 6.Continuously measure
Key steps to success
15
© Ipsos | Future of Research Webinars 2020 | Public
How Watches of Switzerland are approaching measurement, lockdown and the future
Richard Braybrook
Group Head of Retail
Operations
Adam Moore
Head of Customer
Experience
© Ipsos | Future of Research Webinars 2020 | Public16
© Ipsos | Future of Research Webinars 2020 | Public
There was a very strong relationship with Mystery Shop performance and conversion.
17
Store 3
Store 5
Store 2
Store 6
Store 4
Store 1
y = 0.00x - 0.13R² = 0.75
60 70 80 90 100
Day’s
co
nvers
ion
rate
*
Average Mystery Shop Score
*% above or below average R² = 0.75 (1=perfect correlation)
© Ipsos | Future of Research Webinars 2020 | Public18
-3.0%
-1.5%
0.0%
1.5%
0% 33% 67% 100%
Day’s
co
nvers
ion
rate
Sales closure score
-4.5%
-3.0%
-1.5%
0.0%
1.5%
2 3 4 5
Effort Score
When staff follow sales closure protocols and display effort, the sales conversion is higher
© Ipsos | Future of Research Webinars 2020 | Public
In conclusion
© Ipsos | Future of Research Webinars 2020 | Public19
1.Stay close to your core
consumers/customers at this
challenging time
2.Use digital tech to connect in the
interim and to engage
3.Play strongly on brand values to
accentuate the brand experience
and make it customised
4.Provide the best possible store
experience for your customer
and make them feel special (the
shopping is part of the memory)
5.Making them feel valued but also
make them feel comfortable /safe
There is a need to focus on
all aspects of the funnel to
maximise footfall in these
difficult times and drive
conversion rates
© Ipsos | Future of Research Webinars 2020 | Public
Rosie Clayton
Research Director
Mystery Shopping
Deli Carter
Key Account Manager
Retail Performance
© Ipsos | Future of Research Webinars 2020 | Public
For more information please get in touch
20
© Ipsos | Doc Name | Month Year | Version # | Public | Internal/Client Use Only | Strictly Confidential© Ipsos | Future of Research Webinars 2020 | Public
THANK YOU
