Category: analytics
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“Saving Planet Retail:” From ‘Economies of Scale’ to ‘Scale of Economies!’
From ‘Economies of Scale’ to ‘Scale of Economies!’ The principle behind making money from ‘economies of scale’ is to produce high volumes of products, which reduces the individual unit cost. The more you make and the more you sell the greater the margin and the greater the profit. The principle behind making money from ‘scale…
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Community Location Planning: A Circular Approach
Retailers are having to drastically re-think many of their commercial practices. Location planning departments will be at the head of the queue when it comes to looking for new answers. Scratching their heads for an alternative strategic approach to where and why they open and close stores. Traditional traffic analysis and demographic profiling should still be…
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Customer Experience Analytics: Which comes first…the Chicken or the Egg?
Which should come first, the chicken or the egg? How long will the chicken stay for, where will she go, and how many eggs will be in her basket? The answers to customer experience analytics still seem tantalisingly out of reach for many retailers. This year’s RBTE event at Olympia had its fair…
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Do you know the “new” rules for your next store design?
Retail professionals are under extreme pressure to deliver what they always have, but now in a retail landscape that is being transformed by changing customer behaviour and a migration of retail sales to e-commerce. There is a level of confusion and indecision that has entered many retail teams, that comes from the evolution of…
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Sales = Traffic x Conversion: The Complexities of a Simple Equation
Knowledge of traffic and conversion is essential to measure and maximise sales opportunities across stores, however the knowledge of traffic and conversion by category display within the store reveals the mysteries of the shopping experience and promises the riches of increased sales productivity for every gondola, wall and precious retail square metre. What retail…
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6th Joy of a Retail Spring – Secrets behind Product Sales
Any good retailer knows from its product sales what its customers’ buy and equally what seems to be impossible to sell to them, but why? Do you know why? Is it simply the wrong product, or perhaps something more subtle in the colour, the size, the style or the taste, or simply something as obvious as the price point?…
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1st Joy of a Retail Spring – Understanding customer behaviour
Make it your new year’s resolution to understand how your customer behaves inside your stores. In many ways having got them into your store you’ve done the hard part, and everything they do, and everything they buy now, is a bonus that cannot be ignored. The key is understanding how your customer reacts to…
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“What on earth is happening in my stores?!”
“How can I actually know for certain what is happening in my stores and what my customers are doing, and so ultimately know what to do to improve their experience and my commerciality?” It is still a widespread scenario that head office retail functions do not know what is happening hour after hour, day…
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