People Counting Data: Managing in the Moment
There’s been a lot of talk lately about whether brick and mortar stores will exist in the future. They will, but those who succeed will be the ones who embrace change and a new way of managing. Savvy retailers will make course corrections “in the moment” to maximize their opportunities.
Real-time traffic reporting allows managers to monitor customer traffic and conversion rates in addition to Average Dollar Sale (ADS) and Units per Transaction (UPT). Doing so gives them the ability to see what’s happening in their store through a new lens. Understanding traffic and conversion helps a retailer to identify when there is unmet opportunity in their store. When a top performing manager sees that traffic is higher she can reallocate staff to put more associates on the floor to serve customers. Customer service is one of the reasons people still come to the store. However, if their need to be helped by a knowledgeable and professional salesperson goes unmet, they will either go to another store or turn to the e-commerce alternative.
Conversely, if a drop in conversion rate occurs the manager could provide additional coaching to help the staff improve how they sell. Identifying and rewarding positive selling efforts helps associates understand what is working and what isn’t. Giving feedback to associates in real-time ties the coaching to the actual behavior which helps to reinforce the new skills (or correct a bad habit). Plus it gives associates time to improve their performance before an entire day has passed and opportunity has left the store.
Sharp managers know that real-time traffic data achieves real-time results.