This week we look at January metrics and how the mattress industry stayed positive with less foot traffic in January compared to last year.
WHAT’S IN THIS WEEKS EDITION, YOU ASK?
- See how the furniture industry blew last January out of the water
- How the mattress industry stayed positive with less foot traffic in January compared to last year
- Hacks for marketing in retails
- Listen to Dos Marcos Mattress Podcast and get their predictions for 2021
- Turn your foot traffic into more sales with a 90-day free trial of Doorcounts 3.0
And, here’s what’s in next week’s edition: Valentines day edition
FOOT TRAFFIC INDEX
Here’s a look at last week’s foot traffic compared to the same time last year.
DC FEATURE OF THE WEEK
This is where each week we highlight a feature within Doorcounts. This week’s feature is:
With the Sales Statistic By Location tab, you are able to create a custom report for all your stores in one place to compare and contrast the sales and performance metrics by location.
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
The January numbers are finally in and it is time to take a look at how January stacked up against last January and last month.
January furniture key metrics
January 2021 was a good month to be in the furniture industry with every metric being in the green in comparison to January 2020.
Conversion rate up 3%: Although the conversion rate is up 3% from last January, the furniture industry saw a 4% decline from last month.
Average Ticket up 8%: Average ticket has stayed strong with an 8% increase year-over-year and a 3% increase from last month.
Daily Revenue up 10%: Average daily revenue went from $16,256 in January 2020 to $17,940 in January 2021. As usual, December 2020 sales were relatively slow with average daily revenue at $13,342.61 followed by a 34% increase in January 2021.
Daily Opportunities up 4%: Daily opportunities are also known as foot traffic. As we know, most of these sales metrics rely on people walking into stores. Thankfully, we’ve seen a 4% increase in foot traffic since last January and a 37% increase since last month.
New Prospects up 35%: As we’ve said in the past, new prospects are people who left the store without buying. Unfortunately, we’ve seen 35% more customers leave the store without buying in comparison to last January and 47% more since last month.
January mattress key metrics
Similar to the furniture industry, the mattress industry stayed positive in nearly all metrics despite seeing a drop in foot traffic.
Conversion rate up 7%: The mattress industry increased conversion rate 7% from last January, a time before social distancing was normal. Not only that, but the conversion rate saw a 12% increase from last month.
Average Ticket up 11%: Average ticket not only saw an 11% increase from the same time last year, but also an 11% increase from last month.
Daily Revenue up 22%: An increase of 22% in daily revenue compared to January 2020 is a small fraction of the increase seen in the last month. And in comparison to the previous month, December 2020, the mattress industry saw a 46% increase in daily revenue.
Daily Opportunities down 10%: Despite most key performance metrics being in the green, foot traffic just isn’t the same as it was last January. Daily opportunities saw the same drop of 10% compared to December 2020. On the bright side, the other metrics prove salespeople can work with what they have and are still turning foot traffic into more sales.
New Prospects up 125%: As we’ve said, new prospects are customers who left the store without buying. To put the 125% into perspective, new prospects doubled from one customer to two customers in the last year. Thankfully, new prospects only saw an increase of 12% increase since December 2020.
10 MATTRESS GALAXY PREDICTIONS FOR 2021 AND BEYOND
As a proud sponsor of the Dos Marcos Mattress Podcast, see how they use Doorcounts foot traffic data in their highly anticipated 2021 predictions episode.
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