Traffic Trouble: Store Traffic is Down and it May not Come Back – What are Canadian Retailers Going to do About it?Posted September 23, 2016
As Jim Quinn of The Burning Platform describes in his compelling and disturbing article, The Retail Death Rattle, the decline in retail traffic may be a result of more obvious and, ultimately, troubling reasons. As someone who has studied brick-and-mortar store traffic trends for more than 20 years, I believe that Jim’s apocalyptic conclusions may be directionally correct. As retail traffic analysts, my team and I analyze store traffic from thousands of retail stores across North America monthly, and it’s not unusual to see year-over-year store traffic declines of 5%, 10% and even 20% or more. When you put this in absolute terms, it can be startling. Read the article
Posted September 22, 2016
There are four ways frontline leaders might unintentionally demotivate their employees. They might take charge after not being on the floor. They might undermine the company or the boss. They might cherry pick customers. Or, they might hold themselves to a different set of standards. The Retail Contrarian wrote about these four issues and what to do to avoid doing them. In a RetailWire article, retail experts weighed in on which of the demotivating tendencies by store managers mentioned in the article is most common, which is the most damaging to morale….and added other examples to those mentioned in the article. Read the article
Posted September 19, 2016
According to a new Deloitte study, digital platforms such as Facebook and Google “are operating at such scale now that they are shaping customers’ definitions of what a great customer experience is.” Are stores losing influence over the purchase journey due to the scale of digital interactions? Why have retailers struggled to respond? Do traditional budgeting and ROI measures have to be revamped to help retailers become more responsive to customers’ needs? Read the article
Posted September 19, 2016
By any measure, empirical and anecdotal, the number of people visiting retail stores is down. There are plenty of theories about why: it’s the mass movement of shoppers to online; it’s changing consumer preferences; it’s the weather; it’s those pesky, hard-to- figure-out millennials who would rather hunt for Pokémon than bargains at the mall. As someone who has studied brick-and-mortar store traffic trends for more than 20 years, I know it’s not unusual to see year-over-year store traffic declines of 5%, 10% and even 20% or more. When you put this in absolute terms, it can be startling. Read the article
Posted September 12, 2016
The current retail climate has been described as a ‘death rattle’, ‘death warmed over’ and ‘dismal’. But one retail analytics expert says it’s not the lower traffic that is the biggest concern, it’s the fact that too many retailers are squandering the traffic they do have because they are missing or misusing basic data to take corrective actions. Read the article
Posted September 8, 2016
We’re at a point where the majority of retailers are experiencing year-over-year store traffic declines at brick-and-mortar locations. Blame it on internet shopping, the glut of big box and anchor store locations in the U.S., or the so-so economy. But it’s happening. Thankfully, there’s a silver lining. Declining traffic doesn’t have to result in sagging sales, says Mark Ryski, president and CEO of retail traffic and conversion analysis firm HeadCount Corp. Read the article
Posted May 27, 2016
Retailers are always asking how they can increase the numbers of shoppers who visit and buy goods at their stores. According to a study from store traffic and conversion measurement provider HeadCount, “In-store Traffic and Conversion Study: Retailers Find Keys to Impressive ROI,” the answer lies in combining data-driven coaching with analytics. Read the article.
Posted May 24, 2016
“What’s Store Traffic Going to Tell Us That We Don’t Already Know?” If this question has crossed your mind, you’re in good company. Many senior executives ask this very question. It’s especially relevant when you consider the significant investments retailers are making in sophisticated customer relationship management (CRM) and point-of-sale (POS) systems that seem capable of capturing every imaginable morsel of customer data. So, what can a simple traffic counter tell you that you don’t already know? A lot. Read the article
Posted March 8, 2016
A research study released today clearly demonstrates the ability of a new data-driven coaching and analytics program to drive net sales productivity in retail stores. The ‘In-store Traffic and Conversion Study’ released today by RetailWire and HeadCount Corporation documents a lift in net sales productivity of 537 basis points during the test period. Read the article
Posted January 26, 2016
In our own randomly, unscientific fashion, RetailWire hit the floor at the NRF Big Show last week to get answers from retailers and their vendors to two questions:
- Were the retail industry’s final results for 2015 better, worse or in line with your expectations?
- Are you more or less optimistic about the industry’s prospects for 2016?
Read the article