Tapping into the benefits of next generation store analytics

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ConsumerConnected

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Tapping Into The Benefits Of Next Generation Store Analytics�

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ConsumerConnected #CCS14

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About Retail TouchPoints

ü  Launched in 2007

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Panelists MODERATOR

Russell Evans VP of Marketing

ShopperTrak

Debbie Hauss Editor-in-Chief

Retail TouchPoints

Next Generation In-Store Analytics

Global Leaders in Consumer Behavior §  70,000+ Devices §  More than 90 Countries in Opera8on §  Over 1,000 Retail Clients §  20 Billion+ Shopper Visits Counted Annually §  Industry Leader and Innovator with 15 Patents

Market Leader. Global Footprint. Retail Innova8on.

Retail’s Mission Hasn’t Changed

The Consumer Has Changed

Retail Must Evolve

Traffic

Conversion

Transaction Size

Actionable Insights

Increase Traffic §  Opportunity: know your pass-‐by traffic

§  Draw Rate: are you capturing that traffic

§  Demographics/Psychographics: are you pulling the right customers through the door

§  Marke8ng Effec8veness: are your campaigns working

Smarter Merchandising

Create store groups to test different window concepts

Analyze draw rates to understand where you succeeded

Maximize your draw by op8mizing your

displays

A small increase in draw rate can mean hundreds of people through the door

Increase Conversion §  Abandonment: the % of people who leave shortly aYer entering

§  Dwell Time: average shopping visit dura8on

§  STAR: shopper-‐to-‐associate ra8o measures labor coverage

§  Queue Management: measures the efficiency of the checkout process

Dwell Time & CVR Trends by Week Day Store A

Week Total Store Dwell

Store CVR

Sun 22.3 57.7%

Mon 21.1 62.0%

Tues 16.9 62.3%

Wed 20.8 63.8%

Thurs 18.8 63.3%

Fri 21.6 61.3%

Sat 18.6 57.8%

AVG. 20.0 60.4%

20 Are customers being engaged as they shop?

Store B

Total Store Dwell

Store CVR

18.2 55.3%

15.8 56.8%

12.6 56.4%

16.8 57.9%

10.1 56.7%

16.2 58.0%

15.3 56.0%

15.0 56.6%

Store C

Total Store Dwell

Store CVR

20.0 56.7%

20.8 63.3%

18.5 62.8%

18.7 63.0%

13.4 61.9%

18.8 63.2%

19.8 58.8%

18.5 60.7%

Sunday’s Dwell Time is high, CVR is lowest of the week.

Monday’s Dwell Time is high, CVR is also high.

Thursday’s Dwell Time is lowest, CVR is high.

Increase TransacPon Size §  Intercept rate: % of customers who are engaged by your sales associates

§  Intercept 8me: average 8me between entrance and engagement

§  Zone counts: which areas a^ract the most traffic and do these areas have the best sales and conversion

§  Loyalty: are customers coming back

Survey Question

Next Generation Analytics offer the most opportunity as it relates to:

a.  Improving operations b.  Increasing the efficiency of marketing efforts c.  Personalizing the shopping experience d.  Enhancing the flow through the store e.  Optimizing merchandising

Zone Analysis: Old Format Top Performers (By Ranking)

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Traffic Draw 1

Traffic Draw 4

Traffic Draw 3

Traffic Draw 2

Dwell 2

Dwell 1

Dwell 3

Dwell 4

Top Traffic Draw Rates: 82.34-‐89.94%

Top Dwell Times:

14:37-‐16:08m

Finding: High traffic and dwell areas were concentrated in two sec8ons of the store

Zone Analysis: New Format Top Performers (By Ranking)

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Cash Wrap

Zone 1

Zone 2

Zone 3

Zone 4

Zone 5

Zone 6

Zone 7

Zone 8

Zone 9

Entrance

Zone 10

Zone 11

Zone 12

Zone 13

Zone 14

Zone 15

Zone 16

Zone 17

Zone 18

Traffic Draw 4

Traffic Draw 3

Traffic Draw 2

Traffic Draw 1

Dwell 2

Dwell 3

Dwell 1

Dwell 4

Top Traffic Draw Rate

82.12 – 87.16%

Top Dwell Times

14:29 – 16:21m

Finding: New format lead to change in traffic draw and dwell pa^ern

Integrating Technologies

Market Benchmarks

Queue Management

Interior CounPng

MarkePng EffecPveness

Draw Rate Shopper

Demographics Foot Traffic

Perimeter Coun8ng

Best-‐of-‐breed technology

Sales Intercept

Loyalty / Abandonment

WiFi/Bluetooth/BLE

Video

Small Changes Can Have BIG Results

Improving Store Performance

Traffic

Conversion

Trans. Size

SALES $40.56 20.2% $3,113

X X = 380

What is the impact of traffic, conversion and transac8on size increases?

Traffic

Conversion

Trans. Size

SALES $40.56 20.2%

$3,113 X X = 380 399 $3,269

$156 or 5.0% increase in sales!


What is the impact of a 5% increase in traffic?

Traffic

Conversion

Trans. Size

SALES $40.56

$3,113 X X = 380 $3,421

9.8% increase in sales!


20.2% 22.2%

What is the impact of a 2 point increase in conversion?

Traffic

Conversion

Trans. Size

SALES

$40.56 $42.56 20.2%

$3,113 X X = 380

What is the impact of a $2 increase in transac8on size?

$3,266

4.9% increase in sales!


What Can Next Generation Analytics Do For You?

Questions

Thank You

www.shoppertrak.com

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Q & A // Panelists MODERATOR

Russell Evans VP of Marketing

ShopperTrak

Debbie Hauss Editor-in-Chief

Retail TouchPoints

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