Visitor count or store footfall and conversion rate are basic store metrics every retail establishment should be monitoring to maximize profitability. Store footfall refers to the number of people who set enter the store, regardless of whether or not they make a purchase. Conversion rate refers to the percentage of people who decide to make a purchase after entering the store.
There are two methods a retail establishment can monitor visitor count: manual counting and observation, or with the aid of electronic footfall counters and software. Doing so allows retailers to analyze how much people step into their stores, what made them go into the store, and — most importantly — how many of those who went in actually made a purchase. In turn, this enables them to adjust accordingly to the needs of the consumers and improve overall shopping experience.
Retailers must monitor visitor count, observe patterns within the data gathered, and act upon the findings. Countwise.com shares a few key points to observe:
- Monitor reactions to window display – Count the number of people stopping by your window display, how long they look, and whether or not they go in because of seeing the window.
- Observe the flow of foot traffic – Identify peak hours when foot traffic is at its highest. Determine which part of the store that has the most visits from shoppers. Assign the right number of salespersons to operate the area during peak and non-peak hours.
- Determine the effectiveness of in-store promotions or marketing strategies – Compare footfall and conversion rates of current promotions with the data of the same period from the previous year. This will help you determine if current promotions have a significant effect on sales.
- Identify factors affecting decisions to purchase – What made customers buy your items? Was it after learning about the product features? Were they able to try the product? Did they receive a discount? Know what actually converts to sales, so you can build on it.
The goal of any retail establishment is to maintain a certain level of footfall and to increase conversion percentage. The right data can help them achieve these.