September 2021 was a prime example that higher foot traffic is not always the answer to increasing sales.
With less foot traffic than September 2020, both the furniture and mattress industry saw yearly highs for multiple performance metrics.
This week we engulf ourselves in the September data to see how salespeople were able to overcome the lack of customers and turn the month into one of the highest sales months thus far this year.
THIS WEEK’S HIGHLIGHTS
- How the furniture industry reached over $20,000 in average daily revenue in September.
- The mattress industry’s ability to spend less time with customers and increase their average ticket.
- How minor improvements to your store experience can skyrocket sales.
FOOT TRAFFIC INDEX
Here’s a look at last week’s foot traffic compared to the same time last year.
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
Furniture’s September high
September was a month for the books in the furniture industry.
Despite a drop in foot traffic compared to the same time last year and last month, the furniture industry reached yearly highs for multiple metrics including sales conversion, average ticket, and daily revenue.
Foot traffic was down 25% year over year, yet salespeople took on the challenge and increased their conversion by 17%. A conversion rate of 39% is a 5% increase over the previous yearly high of 37.4% in July 2021.
Not only were salespeople converting sales at a higher rate, but they also found a way to sell more with each sale. The average ticket saw a 23% increase over September 2021, and a 5% increase over the previous month, which was the highest average ticket month thus far this year.
Up until September, May 2021 was the month to beat when it came to daily revenue with an average daily revenue of $19,728.41. With the help of salespeople making the most out of less foot traffic, September 2021 had an average daily revenue of $20,239.34 for the furniture industry.
Overall, September was a high-performing month where salespeople showed how more foot traffic isn’t always the answer to make more sales.
A month to Remember
Similar to the furniture industry, the mattress industry saw a decrease in foot traffic yet an increase in most performance metrics.
With an average of 3 customers per day, salespeople were able to convert 72% of the visits into sales. Although 72% isn’t the yearly high, it is a close second to the 75% sales conversion in August 2021.
As we all know, one of the easiest ways to make up for less traffic is to make the most out of every opportunity that walks through your door. In September, the mattress industry increased their average ticket by 17% year-over-year to $1,843, which is 4% higher than the previous yearly high of $1,770.64.
Surprisingly, salespeople were able to increase the average ticket without spending more time with customers. Salespeople spent an average of 2 minutes less with each customer and were still able to bring in more profit with each sale.
Lastly, with converting more sales and increasing the average ticket, daily revenue saw an increase of 16% compared to September 2020. On the other hand, daily revenue was down 2% compared to last month, which was a tough metric to beat with July and August seeing higher than normal daily revenue.
With the positive trends we’ve seen in the last few months, we have high expectations for the mattress industry to end the year with a bang.
The Fam
TO BE UPDATED
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