Retail Traffic Trends #82: The End of Third-Party Data

Customers no longer want a personalized shopping experience, they expect it.


As consumers become more aware of what information they give, and regulations continue to make it increasingly hard to collect data third-party data, first-party data has become a necessity.


This week we take a look at the controversy around data collection and how stores are finding ways to personalize the shopping experience.

THIS WEEK’S HIGHLIGHTS

  • Walmart’s bet on AR: Walmart becomes the next major retailer to double down on Augmented Reality.
  • First-party data: First-party data begins to emerge from the shadows of third-party data.

  • Q1 Benchmark Report: Click HERE to download the report.

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.

First-Party data

Customers no longer want a personalized shopping experience, they expect it.

 

For quite a while now, 3rd-party data was the go-to route for collecting data to personalize the experience for shoppers. But as companies such as Apple continue to shed light on the mass amounts of data collected from 3rd parties, consumers have become more aware of what information they give, and regulations have made it increasingly hard to collect data.

 

A recent survey found that 69% of consumers are concerned about how personal data is collected within mobile applications. Although there is much controversy around cookies and 3rd-party data, 81% of companies are still dependent on third-party data.

 

Sooner or later, first-party data will be essential to continue personalizing experiences without buying data elsewhere. First-party data is data that you collect from within your customer ecosystem. This can include email conversations, social media followers, app usage, website traffic, etc.,

 

Click HERE to learn more about the growing need to collect first-party data.

Walmart’s Augmented Reality bet

Walmart plans to become the next major retailer to fully-adopt Augmented Reality for virtual showrooms.

 

Walmart is set to release two new AR apps for at-home and in-store shoppers. The new “view in your space” feature is set to release in early July on the IOS app and will allow users to see what furniture and appliances look like in their home before purchasing.

 

With the second app, shoppers and employees will be able “to simply point their mobile device camera at our store shelves via the Walmart app to filter our assortment based on your personal preferences,”.

 

We expect Walmart will be the first of many retailers to double down on Augmented Reality as means of personalizing the shopping experience.

 

Click HERE to learn more about Walmarts plans for Augmented Reality.

Retail Snippets

Confident shopping: Consumer confidence falls to a 16-month low on worries about inflation and economy

 

Influential employees: How retail workers can be leveraged as effective brand influencers.

 

Holiday sales: The top 10 trends driving retail growth in June.

RANDOM IRRELEVANCE

Jack-and-Coke in a can: Scientists turn Brazilian tree bark into a promising treatment for Leukemia.

 

New digs: U.S. FCC commissioner wants Apple and Google to remove TikTok from their app stores.

 

New craters: whose rocket just hit the moon?

Read More

Retail Traffic Trends #81: Industry Highs and lows

The last few months have been a wild rollercoaster for the industry as a whole.


When looking at the entire industry, retail sales fell 3.5% in May. But when you exclude auto sales, the rest of the industry saw a 0.5% increase.


This week is dedicated to uncovering trends and factors that are making a big impact on how sales in different industries.

THIS WEEK’S HIGHLIGHTS

  • DTC subscriptions: Why more and more companies are jumping on the DTC subscription wave.
  • The auto downfall: Everything you need to know about the sudden drop in foot traffic.

  • Q1 Benchmark Report: Click HERE to download the report.

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.

Auto weighs down retail

Last week we learned that both the furniture and mattress industries saw increases in their daily revenue in May. When looking at the retail industry as a whole, retail sales fell 3.5% in May.

 

Although the industry saw a slight decrease, if you exclude the auto industry, retail as a whole would’ve increased by 0.5% during the month. The combination of inflation and auto chip shortages has resulted in people waiting to pull the trigger on a new vehicle.

 

Over the last month, spending at gas stations has increased 4%. Compared to the same time last year, spending is up a whopping 43.2%.

 

Online shopping also saw a slow down in May with a 0.1% decline in activity compared to the prior month’s 0.7% increase.

 

Click HERE to learn more about the current state of retail.

DTC subscriptions on the rise

As we’ve touched on in the past, DTC subscription services have become increasingly popular.

 

Although subscription services usually have a higher acquisition cost, the lifetime value of the customer skyrockets. A new report from PipeCandy and Rodeo predicts that as many as 75% of DTC brands will have a subscription-based offering by 2023.

 

On average, DTC subscribers tend to be urban women, between 25 and 44 years of age, earning a salary between $50,000 and $100,000 and living on the East Coast, the report found.

 

Despite the average audience being between 25-45, younger generations have grown up with subscriptions and will be among the first to adopt once they begin making money of their own.

 

Click HERE to learn more about DTC subscriptions.

Retail Snippets

Changing tides: Why the tech transformation has become imperative in retail.

 

Newest Mission: Apple becomes the latest company to join the BNPL boom.

 

Holiday sales: The biggest mall owner in the U.S. hopes to create a new sales holiday as inflation surges.

RANDOM IRRELEVANCE

Shortage: Sriracha hot sauce maker warns of shortages lasting throughout the summer.

 

The last byte: After almost 27 years, Internet Explorer breathes its final byte on Wednesday.

 

AI in the flesh: Generate stunning images from words using DALL-E mini.

Read More

Retail Traffic Trends #80: May Retail Metrics

As we finish the second week of May, let us take a moment to see what it takes to become a top-performing store.

 

Despite this May having less foot traffic than last year, both the furniture and mattress industry saw over a 10% increase to their conversion rate in May 2022.

 

This week we take a look at the top 20% of stores with the highest conversion rates in both the furniture and mattress industry to see how May played out.

THIS WEEK’S HIGHLIGHTS

  • May in the furniture industry: The highs and lows for the furniture industry to start Q2.
  • May in the mattress industry: How the mattress industry increased conversion rate by 25%
  • Q1 Benchmark Report: Click HERE to download the report.

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.

May 2022: Furniture industry

May 2022: Mattress industry

Retail Snippets

Retail chain: 7 Incredible Benefits of Blockchain for the Retail Industry.

 

Retail hacks: The top 10 trends driving retail growth.

 

Missing the Target: Target will take a profit hit to clear out inventory that shoppers don’t want.

RANDOM IRRELEVANCE

Nonuplets: A ‘dangerous and deadly heat wave‘ is on the way, the weather service warns.

 

Watch: Five planets will line up in the sky in June. Here’s how to see it.

 

Must try: Wendy’s is finally selling this ‘highly anticipated’ Frosty flavor.

Read More

Retail Traffic Trends #79: Retail Traffic Predictions

Over the last few years, convenience was the driving factor that got people into stores. People wanted to be in and out with minimal human interaction.


The combination of warmer weather and a general lack of human interaction by many consumers has resulted in a complete shift in foot traffic trends.


This week we make predictions for future foot traffic and examine the ever-changing consumer habits.

THIS WEEK’S HIGHLIGHTS

  • Spontaneous Summer: How you can capitalize on increased tourism and longer stays.
  • Traffic Trends: Everything you need to know about what consumers are thinking.

  • Q1 Benchmark Report: Click HERE to download the report.

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.

Spontaneous Summer

With warmer weather slowly making its way around the country, tourism and summer vacations have begun making a dent in foot traffic.

 

Not only does warm weather signal foot traffic to come, but it also gives new light to forms of advertising that would not be as effective during other seasons.

 

Digital out-of-home and in-car advertising is an effective way to reach on-the-go consumers. A recent study by Waze and Retaildive found that 79.2% of retail brands found in-car advertising effective, with two-thirds of respondents describing it as “extremely effective. ” Additionally, 85.6% said out-of-home advertising (as in billboards, bus ads) is effective.

 

Click HERE to learn more about how to make the most out of the warm weather to come.

Foot traffic trends

Over the last few years, convenience was the driving factor that got people into stores. People wanted to be in and out with minimal human interaction.

 

We are now seeing a complete shift, where shoppers are hungry for conversation and are starting to shop at physical stores on a more regular basis.

 

This year, 85% of shoppers will do more in-store shopping than last year. This is up from 2021 when 79% of consumers went in-store shopping more than the previous year.

 

Not only are consumers increasing their shopping frequency, but they are also spending more time in-store. According to our Q1 2022 Benchmark Report, customers spent 8% more time with salespeople compared to Q1 2021.

 

Click HERE to read more about foot traffic trends.

Retail Snippets

Record sales: Build-A-Bear reports a record $117.7M in revenue.

 

Newest Mission: Patagonia plans on replacing single-use packaging with technology.

 

Falling sentiment: Consumer sentiment continues to slide amid inflation fears and durable good costs.

RANDOM IRRELEVANCE

Mona Lisa: A man dressed as an old woman throws cake at da Vinci painting.

 

Burning up: Scientists brace for a first glimpse of a world that constantly burns.

 

Close call: Walmart to expand drone delivery to 4 million U.S. households.

Read More

Retail Traffic Trends #78: Understanding the consumer

How many times have you told a friend about a positive in-store experience you had?

 

Although a majority of positive in-store experiences will go unheard of, 83% of consumers will likely tell others about a poor in-store experience.

 

This week is all about consumers rising expectations for in-store experiences and discuss the current state of consumer behavior.

THIS WEEK’S HIGHLIGHTS

  • Consumer habits: How the younger generations are setting the bar high for brick-and-mortar experiences.
  • 2022 State of Consumer Behavior report: everything you need to know about what consumers are thinking.

  • Q1 Benchmark Report: Click HERE to download the report.

  • Doorcounts webinar: Join us at 9 AM PST / 12 PM EST for a 30-minute session on the contact manager and emailing in Doorcounts.

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.

Understanding evolving consumer habits

Unfortunately, over the last few years, we have seen consumers raise their expectations for retail experiences.

 

Shoppers now expect much more than a simple brick-and-mortar experience, they want to be wowed.

 

Consumers, and younger consumers in particular, are gravitated toward experimental retail experiences. Younger consumers are so accustomed to e-commerce shopping, that unless there is a unique experience, there is little to no reason for them to not shop online as they normally would.

 

Although the experience is most important to consumers, savings is a close second. A recent survey by TotalRetail found that 24.8% of consumers, the largest group, say that a store offering exclusive in-store discounts is the surest way to coax them into a new store.

 

At the end of the day, brand loyalty is declining and anything you can do to make the customer feel special will go a long way.

Consumers by the data

This week, Raydiant released their State of Consumer Behavior 2022 report with endless amounts of useful information on anything and everything about consumers.

 

One of the major takeaways was that 44% of consumers still prefer to shop in-store rather than online. At the same time, 27.6% cited the allure of in-store experiences as their primary reason for shopping in stores.

 

Probably the most shocking statistic to me was that 54.6% of respondents said that they have completely abandoned a brand because of a single bad in-store experience. While it can take multiple visits to gain trust, it only takes one visit to lose it all.

 

Although a majority of positive in-store experiences will go unheard of, 83% of consumers will likely tell others about a poor in-store experience.

 

Click HERE to read the full report on the state of consumer behavior.

Retail Snippets

New age delivery: Walmart expands drone delivery program to 4 million households as the retail sector slows.

Retailers tell-all: Retailers share their secrets about increasing revenue growth.

Green bottles: Coca-Cola unveils brand-new bottles with caps attached, hoping to curb recycling concerns.

RANDOM IRRELEVANCE

Read More

Retail Traffic Trends #77: The Rise of Retail Subscriptions

Can you count on one hand how many subscriptions your household is subscribed to?


Over 62% of households are now subscribed to at least one retail membership. Not surprisingly, 54% of U.S. households are subscribed to Amazon Prime.


This week we dive deep into emerging retail subscription services and the potential of a BNPL bubble.

THIS WEEK’S HIGHLIGHTS

  • BNPL: How buy now, pay later has become an unregulated mess.

     

  • Hot topic – Subscriptions: From niche to mainstream, everything you need to know about retail subscriptions.

  • Q1 Benchmark Report: Click HERE to download the report.

  • Doorcounts webinar:  No webinar this week. Enjoy your morning and we will be back next week!

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.

Update: Buy Now Pay Later

Name of the game: Subscriptions

From Costco to Amazon Prime, subscription retail services have slowly become mainstream.

 

Over 62% of households are now subscribed to at least one retail membership. Not surprisingly, 54% of U.S. households are subscribed to Amazon Prime.

 

Not only do programs like Walmart+ and Amazon prime drive more sales with the added benefits such as free shipping, but the memberships also help drive brand loyalty and trust.

 

Although subscription services do not directly relate to big-ticket items, early access or “subscriber-only” deals can be a great way to generate leads and brand loyalty.

 

Click HERE to learn more about retail subscription services.

Retail Snippets

Market insights: Analysis of 500 brands reveals gaps that retailers can turn into competitive advantages.

 

Supply update: How other furniture brands and manufacturers are coping with ongoing supply chain strain.

 

Union: Employees everywhere are organizing. Here’s why it’s happening now.

RANDOM IRRELEVANCE

UFO: Pentagon UFO sightings will finally be publicly aired at a Congressional hearing.

 

Robomeal: Uber set to test delivering food with robots.

 

Peek-a-Boo Moon: Astronaut on Space Station captures spectacular photos of the lunar eclipse.

Read More

Retail Traffic Trends #76: April 2022 Recap

As we start the second week of May, let us take a moment to see what it takes to become a top-performing store.


Despite this April having less foot traffic than last year, both the furniture and mattress industry saw over a 10% increase to their conversion rate in April 2022.


This week we take a look at the top 20% of stores with the highest conversion rates in both the furniture and mattress industry to see how April played out.

THIS WEEK’S HIGHLIGHTS

  • DOORCOUNTS WEBINAR TODAY: Join us today at 9 AM PST / 12 PM EST for our weekly webinar on Contact Manager Best Practices CLICK HERE TO REGISTER FOR WEBINAR.
  • April in the furniture industry: The highs and lows for the furniture industry to start Q2.
  • April in the mattress industry: How the mattress industry increased conversion rate by 25%.

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.

April 2022: Furniture industry

April 2022: Mattress industry

Retail Snippets

Fresh Brick: Meta’s first-ever retail store just opened in the Bay Area. Here’s what it’s like.

 

Best of Both Worlds: How companies are humanizing customer service with the power of AI.

 

Growth: Why text marketing may be your best growth opportunity.

RANDOM IRRELEVANCE

Nonuplets: The world’s only nonuplets celebrate their First birthday.

 

Hubble: The Hubble Space Telescope spots a ‘grand design’ galaxy in a stunning new image.

 

Watch: After 13 years, the second Avatar trailer is finally here.

Read More

Retail Traffic Trends #75: Customer Experience takes the cake

The customer experience has become so important to customers that most consumers would rather sit in a traffic jam than have a bad customer experience.


Although most people will tell you they would rather talk to a human than a robot, there is a time and place for everything.


This week we dive deep into all things related to customer experience and the current state of the industry.

THIS WEEK’S HIGHLIGHTS

  • Q1 Benchmark Report: Click HERE to download the report.

  • Doorcounts webinar:  Join us at 9 AM PST / 12 PM EST to see how to make the most out of quick entry.
  • Retail traffic jam: Shoppers explain their perfect in-store experience.
  • Customer experience hacks: Simple hacks that will save you and your customers time.

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.

Traffic jams vs. bad customer experience

One of the few benefits of the increasing gas prices has been the lack of traffic on the roads the past few weeks.

As it turns out, people have very strong feelings about traffic jams. Although most people hate traffic jams more than most things, 60%, of consumers would rather sit in a traffic jam than have a poor customer experience, according to a Telus International survey.

The survey also found that nearly 48% of consumers believe that customer experiences should get significantly faster, followed by 43% saying interactions should become more personalized and 36% saying there should be more self-serve or automated options,” Maria Pardee, chief commercial officer at Telus International, said in the release.

 

Click HERE to learn more.

Customer Experience by the Facts

Although most people will tell you they would rather talk to a human than a robot, there is a time and place for everything.

 

With more commerce moving to the digital space, customers are looking to interact with brands on a personal level now more than ever. Most customers are looking for a conversation and personalized experience, now more than ever.

 

In 2020, brand interactions during the Black Friday, Cyber Monday season skyrocketed 345% over 2019. In 2021, those numbers continued to rise by 16%.

 

Despite the increased need for human interaction throughout the customer experience, certain conversations can be time-consuming and unnecessary for a human to do. In 2021, WISMO (where is my order?) accounted for 36% of interactions, up from 31% in 2020.

 

WISMO conversations are the perfect use-case for an Ai-system that can instantly give the customer an update on their order.

 

Click HERE to learn about more customer experience hacks.

Retail Snippets

Digital fraud: Mastercard partners with Microsoft to tackle digital fraud.

 

BYP: Amazon launches ‘Buy With Prime,’ allowing other retail sites to use services — Here’s How to Get Started.

 

UK: UK retail sales slump as soaring energy prices hit households

RANDOM IRRELEVANCE

Black Moon: Rare Black Moon solar eclipse takes a bite out of the sun over South America.

 

Vintage meal: Illinois family finds preserved McDonald’s food from over half a century ago in home’s wall

 

Oil shortage: Supermarkets are limiting the amount of cooking oil people can buy as the Ukraine war leads to shortages and surging prices

Read More

Retail Traffic Trends #74: The Test of Time

We have seen endless trends come and go, but since the inception of Retail Traffic Trends, Buy Now Pay later has become a bedrock in the industry.


Shoppers are becoming so comfortable using these types of services that 57% of shoppers in a recent survey said using buy now, pay later services could replace their credit card in the future.


This week we look at trends that have proven the test of time and discuss the effect rising gas prices have had on foot traffic.

THIS WEEK’S HIGHLIGHTS

  • Doorcounts webinar: This week will be open-ended for any questions you may have. Join us at 9 AM PST / 12 PM EST as we go over the report customizations.
  • Test of time: Stay up-to-date on the current trends that are here to stay.
  • Foot traffic: The factors impacting where shoppers go and when.

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.

Trends prove the test of time

Since the inception of Retail Traffic Trends, we have been discussing the new trend of buy now pay later.

 

Nearly a year later, buy now pay later is a bedrock in the industry that has been widely adopted by consumers. A recent survey found that 80% of US shoppers use buy now pay later options such as Klarna to avoid credit card debt.

 

Shoppers are so comfortable using these types of services that 57% of respondents said using buy now, pay later services could replace their credit card in the future.

 

Although many trends come and go, certain trends such as BOPIS, curbside pickup, and buy now pay later have proven the test of time.

 

Click HERE to learn more.

Food and gas prices halt foot traffic

As I think we can all relate, a trip to the gas station or supermarket is now becoming more and more painful.

 

With prices continuing to rise, shoppers are beginning to consolidate their shopping trips and trying to make the most out of each outing. Over the last year, discount and dollar store visits are on the rise while supermarket visits dwindle.

 

Companies such as Costco have seen traffic at their gas stations nearly double year-over-year, and continue to benefit from shoppers consolidating their shopping trips and gas runs into one.

 

Click HERE to learn more about how consumers are shopping with inflated prices.

Retail Snippets

Digital fraud: Mastercard partners with Microsoft to tackle digital fraud.

 

Meta experience: New Meta brick-and-mortar store offers shoppers an intro to the Metaverse.

 

NYC: How speed and convenience are driving retail innovation.

RANDOM IRRELEVANCE

Live Updates: Here’s what’s next for Elon Musk and his purchase of Twitter.

 

Long Live: World’s oldest person, Kane Tanaka, dies in Japan aged 119.

 

Netflix police: Netflix is finally going after password sharing. Here’s how it’s likely to work.

Read More

Retail Traffic Trends #73: March 2022 Recap

As we are about halfway through April, let us take a moment to see what it takes to become a top-performing store.


Despite less foot traffic than last March, both the furniture and mattress industry saw over a 10% increase to their average tickets in March 2022.


This week we take a look at the top 20% of stores with the highest conversion rates in both the furniture and mattress industry and see how March played out.

THIS WEEK’S HIGHLIGHTS

  • DOORCOUNTS WEBINAR TODAY: Join us today at 9 AM PST / 12 pm EST for our weekly webinar about email campaigns in Doorcounts. CLICK HERE TO REGISTER FOR WEBINAR.
  • March in the furniture industry: The highs and lows for the furniture industry to start the year.
  • March in the mattress industry: How the mattress industry increased average ticket by 15%.

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.

March 2022: Furniture industry

March 2022: Mattress industry

Retail Snippets

A New frontier: How data & analytics is fueling the retail industry.

 

Bitcoin: eCommerce platform Shopify integrates with payments network Strike to accept Bitcoin.

 

Fallen giant: Once a retail giant, Kmart nears extinction after New Jersey closure

RANDOM IRRELEVANCE

‘Stranger Things 4’ Trailer: The Hawkins gang goes to war with the upside down.

 

Lost memories: The Hubble telescope confirms the largest comet nucleus ever seen.

 

Private space: The first all-private astronaut team arrived at the international space station.

Read More

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