What separates the big leagues from the minor league or the leaders from followers?
This week we take a look at the second quarter metrics by sales volume to see how those who are selling at maximum potential compare to those who need an extra push.
 
At the same time, we take a look at what improvements can be made to bridge the gap between mom and pops stores and major franchises.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • Join Podium and The Fam’s upcoming webinar.
  • The relationship between time with customers and foot traffic.
  • The mattress industry’s payoff for gathering customer information.
  • Get our upcoming research reports.

JOIN:
The FAM X PODIUM webinar

During this first-ever webinar, The FAM tells you the story of a rogue delivery driver who stumbled across Podium and single-handedly generated $11,000 in sales in one month (spoiler: his boss couldn’t figure out where the money was coming from).
 
ALSO: How more creative retailers are using world-class communication, texting, appointment reminders, and text-to-pay to boost sales, serve customers, and earn repeat business!
 
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FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

Industry insights so you can convert your foot traffic into more sales.

Q2 Furniture by sales volume

After sorting all of the stores in Q2 by sales volume, we can see how each metric plays a role in certain stores selling a significant amount more than others.

Metrics in green signify the high for the quarter, while red displays the low for the quarter. Not surprisingly, the top 33% had a quarterly high for each metric.

The major difference between the top percentile and the middle percentile is not conversion rate, but foot traffic. Both the top and middle percentile have a comparable conversion rate, but the top percentile saw 38% more traffic than the middle.

Not only did the top percentile see the most foot traffic, but the salespeople in those stores took the extra time needed to make a sale. When your store gets busy, it’s easier said than done to fully engage with every customer. Even with more foot traffic than the other percentiles, the top performers left no stone unturned when it came to spending time with customers.

Lesson to be learned: Don’t rush your customers. Taking the time to get to know them and their wants will go far when trying to get the most out of every sale.

Q2 Mattress by sales volume

Unlike the furniture industry, the top percentile is not the record-holder for each metric.

For the mattress industry, the middle percentile was able to hang with the top dawgs when it came to getting customer information and spending an ample amount of time with customers.

The more time spent with customers, the more likely salespeople were to gather customer information for potential sales. The middle percentile spent the most time with customers and as a result, gathered the most customer information.

Even if the middle percentile did not have the same level of sales as the top, they have a higher potential of future sales as a result of the extra time spent gathering customer information.

The differencing factor for the top percentile was not foot traffic as we saw in the furniture industry, but instead, the average ticket is where the difference was made.

The top percentile had a 16% higher average ticket than the middle percentile, and a 28% higher average ticket than the bottom percentile.

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