How Can Retailers Maximize Profits in 2017?
The calendar has changed from 2016 to 2017 and the Christmas and Black Friday crowds have been gone for a while. It is time to focus on making 2017 profitable from your everyday shoppers. This means tracking the number of customers coming into your locations and ensuring that your sales conversion ratio is high.
Ask yourself these questions:
- Do you know how many people came into your store last weekend, or over the last week?
- Do you know how many of those shoppers turned into sales?
- Do you know which of your locations are over and under performing?
- Do you know the ROI you are getting from your marketing and promotions?
Many retailers in the market today are basing their business decisions on information from their store managers and salespeople….. “I THINK we had around 30 people come in today”, “It was a slow day”, or “We had a lot of shoppers just looking today”. These guesses are not a way to run a retail business, you need hard numbers and a way to hold your stores, store managers and salespeople accountable.
All of these questions and all the hard data you require to ensure business success and optimization can be accomplished by a small investment into a retail technology called traffic counters.
These devices will allow you to have an eye on all your locations at one time and not have to be inside the store to know what is really happening in regards to customer traffic and sales. With the advancement of technology you can even have pictures of the customers.
What would you pay to be able to have this kind of data provided for you anywhere you are? It is time to start running your business on data that is provided that does not have the chance of human error.
You may currently use Shoppertrak and they have locked you into a 3 year contract paying $100 or more a month, but what if you were told that after the counters were installed you would not pay anything for the first year and only $19 a month after that for a camera based traffic counter with the same type of reports?
I know you are already putting the numbers together in your head, but I will make it easy, below is a link to compare Shoppertrak and the TraxSales’ traffic counters……. The time for running your retail business on estimates is over and it’s time to make 2017 your best year to date.