February 16, 2023

Retail Traffic Trends #115: January 2023 Metrics are in! 📊🕰️

As we start the new year, it’s time to look back on January to see how top-performing stores performed in the first month of 2023.

Despite this January having less foot traffic than last year, both the furniture and mattress industries found ways to start the year on a high point.

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 January played out.

THIS WEEK’S HIGHLIGHTS

  • January in the furniture industry: How the furniture industry increased average ticket by 4%.
  • January in the mattress industry: Less time spent with customers, higher average ticket, and higher daily revenue.

  • Q4 Benchmark Report: Click HERE to see how your store compares to the industry average.

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.

January 2023: Furniture industry

January 2023: Mattress industry

Retail Snippets

Finding the line: Retail industry legislation and policies to watch in 2023.

 

2023 Predictions: 10 Retail industry predictions for 2023.

 

Black Friday Sales: UPS projects handling up to 70M in returns from peak holiday season.

RANDOM IRRELEVANCE

Pinocchio: New take on ‘Pinocchio,’ filmed in Portland, wins Golden Globe as best animated movie.

 

Earth 2.0: NASA has discovered an Earth-sized planet orbiting in the habitable zone of its star.

 

Rise of the bots: ‘Scary’ AI ChatGPT could eliminate Google within 2 years.

Read More

February 16, 2023

Retail Traffic Trends #114: How Gamification Can Help Retailers Boost Sales

Over the last year or two, we have seen gamification and digital assets such as NFT’s skyrocket in growth.

 

Now, the retail industry is using gamification and digital trends to help build customer loyalty and increase the customer experience.

 

This week we talk about how brick-and-mortar stores are using touches of digital to enhance the physical experience in-store.

THIS WEEK’S HIGHLIGHTS

  • January in the furniture industry: How the furniture industry increased average ticket by 4%.
  • January in the mattress industry: Less time spent with customers, higher average ticket, and higher daily revenue.

  • Q4 Benchmark Report: Click HERE to see how your store compares to the industry average.

FOOT TRAFFIC INDEX

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

NFT Gamification meets brick and mortar

Non-fungible tokens (NFTs) are providing more value and utility than simple collectibles, and the retail industry is taking notice.

 

Not only can gamification and NFT’s help reach the younger generation and digital natives, but they can also help build customer loyalty and increase the customer experience.

 

Using metaverses and NFTs to make digital duplicates of real-world SKUs and establishing stores in the metaverse, enables retailers to engage directly with their customers, as well as enhance and personalize their shopping experiences. 

 

Walmart is experimenting with shopping in the metaverse as a good opportunity to get ahead in its industry and take control of this growing market in the near future. 

 

Click HERE to learn more about NFT and gamification in retail.

Gap lends a helping hand to smaller retailers

Gap’s logistics business will team with UPS unit Ware2Go to offer small shippers access to fulfillment and distribution services.

 

As Gap explains, access to this level of supply chain capabilities was “previously only available to billion-dollar brands”.

 

 Through the service, businesses can utilize Gap’s network to provide one-day click-to-door fulfillment to customers. They can also get a more accurate look at their inventory levels and delivery times. 

 

Beyond small businesses, the service is also targeted at international companies that want to expand into the U.S. without investing in fulfillment infrastructure.  

 

Going forward,  Gap plans to focus its $700 million capital expenditure budget around supply chain and technology projects to improve automation, speed, and efficiency.

 

Click HERE to learn more about Gaps new mission.

Retail Snippets.

Personalization: Networking and personalization to rule the retail industry in 2023.

 

Growing pains: Struggling Bed Bath & Beyond closing 150 more stores.

 

BNPL update: Apple Pay Later beta testing expands; monthly ‘buy now, pay later’ option also in the works.

Random Irrelevance

Call of Duty: Microsoft’s $69 billion Activision takeover in doubt as UK regulator raises competition concerns.

 

Weather watch: New and stronger warming event is developing in the Stratosphere, which will collapse the polar circulation.

 

Lock and key: Netflix says it ‘updated’ new password-sharing policies that had users melting down.

Read More

February 3, 2023

Retail Traffic Trends #113: Hottest Startups to start 2023

If there’s any clear-cut trend the retail industry has noticed over the last year, it’s that companies that can innovate in unique ways are more likely to thrive amid the challenges of the last few years.

As online shopping continues to be a popular choice for consumers, physical stores can offer shoppers perks that e-commerce can’t replicate.

This week we look at startups to keep your eye on this year and look at how retailers are implementing computer vision into their stores.

THIS WEEK’S HIGHLIGHTS

  • Startups to watch: Startups to keep your eye on in 2023.
  • Computer vision retail: Increase foot traffic with simple changes.
  • Old dogs new tricks: Networking and personalization to rule the retail industry in 2023.

FOOT TRAFFIC INDEX

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

Hottest Startups to start 2023

If there’s any clear-cut trend the retail industry has noticed over the last year, it’s that companies that can innovate in unique ways are more likely to thrive amid the challenges of the last few years.

For RIS’ fifth annual showcase of retail startups, editors highlighted retailers that are inspiring consumers in innovative ways.

Of the startups that made the list, Sunday for Dogs is by far one of my favorites. Soft launched in 2020, Sunday for Dogs is an air-dried dog food retailer that is quickly gaining popularity. Although the food is pricey, Sunday compares the price of the dog food to the price of everyday goods you buy such as Starbucks or eating out, putting the price into perspective.

Click HERE to read more about popular startups in 2023.

Computer vision and retail

Retailers who successfully leverage computer vision with diagnostic, proactive, and predictive analytics are gaining the much-needed competitive edge.

Computer vision provides video and audio for additional context, complementing other types of data.  No matter if you are at your store for 9 hours a day, or an hour a week, it is impossible to see everything the way artificial intelligence can comprehend every second of the day.

The combination of foot traffic data and AI allows you to not only see exactly how long a customer was in a store, but you can see exactly where customers are spending their time.

Click HERE to learn more about the benefits of computer vision in retail.

Retail Snippets.

Old dog new tricks: Networking and personalization to rule the retail industry in 2023.

 

Retail Trends: 8 DTC retail trends to watch in 2023.

 

Security upgrades: NRF partners to enhance cybersecurity in retail industry.

Random Irrelevance

The future of AI: Scientists are trying to resurrect the dodo – centuries after the bird famously went extinct.

 

Sports: Tom Brady says he is retiring from football ‘for good’.

 

Bearly seen: NASA captures photo of ‘bear’s face’ on the surface of Mars.

Read More

January 26, 2023

Retail Traffic Trends #112: Consumer Habits 2023

While some trends come and go, there were a few trends that have stayed with consumers throughout the year.

 

As online shopping continues to be a popular choice for consumers, physical stores can offer shoppers perks that e-commerce can’t replicate. 

 

This week we look at trends to increase foot traffic and customer loyalty.

THIS WEEK’S HIGHLIGHTS

  • Consumer habits 2023: consumers are demanding consistently great retail experiences.
  • Foot traffic trends: Increase foot traffic with simple changes.
  • Q4 Benchmark Report: Click HERE to see how your store compares to the industry average.

FOOT TRAFFIC INDEX

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

Consumer trends in 2023

While some trends come and go, there were a few trends that have stayed with consumers throughout the year.

 

Similarly to what we found earlier this year, nearly 40% of consumers are still willing to pay extra for climate-conscious products. Nearly two-thirds of shoppers (63%) would also recommend a product if they think it isn’t very harmful to the planet.

 

Security is still a major concern for many shoppers. In 2021, retail organizations saw a 75% increase in cyberattacks compared to the year before. If customers don’t feel that their personal information is kept safe, they become far less likely to make purchases at your online store.

 

Lastly, appointment shopping, which emerged at the beginning of the pandemic, is becoming a premier in-store experience that many customers are looking to have.

 

Click HERE to learn more about the latest retail trends.

Trends to increase store traffic

While online shopping continues to be a popular choice for consumers, physical stores can offer shoppers perks that online shopping can’t replicate. 

 

Below, members of Forbes Communications Council share strategies to attract more customers to brick-and-mortar businesses.

  1. Merge The In-Store And Online Experience
  2. Cross-Promotional Events With Other Businesses
  3. In-Store Promotions Via Digital Marketing
  4. Read the full article for 10 more suggestions

Click HERE to read the full breakdown of how to increase foot traffic in 2023.

Retail Snippets.

5G in retail: Retail changes and advancements we can expect in 2023.

 

Return game: Sick of returns? Use them to drive brick-and-Mortar Buys.

 

Holiday recap: Birkenstocks are one of the most purchased fashion items of 2022.

Random Irrelevance

The future of AI: Microsoft confirms it’s investing billions in the creator of ChatGPT.

 

Chocolate crisis: Consumer Reports urges dark chocolate makers to reduce lead, cadmium Levels.

 

Google: DOJ slams Google to end ‘monopolistic grip’ on digital advertising.

Read More

January 20, 2023

Retail Traffic Trends #111: Q4 benchmark is here!

The National Retail Federation reported that in the past five years, shrinkage has increasingly become a $100 billion problem for retailers.

 

Now, tech companies are getting involved to help fight theft in the retail industry.

 

As we start the new year, this week we release our Q4 Benchmark and look into four trends that will shape retail in 2023.

THIS WEEK’S HIGHLIGHTS

  • Nvidia theft: Nvidia unveils new AI workflows to help the retail industry with loss prevention.
  • Holiday recap: 5 trends that shaped the holidays in 2022.
  • Q4 Benchmark Report: Click HERE to see how your store compares to the industry average.

FOOT TRAFFIC INDEX

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

Four Trends That Will Shape Retail In 2023

At the beginning of each year, Forbes selects key trends that they see driving the industry in the year to come.

 

As inflation continued to affect consumers, the global apparel resale market grew an estimated 30.1% to $182.4 billion in 2022 according to data and analytics company GlobalData.

 

Resale ticks two very important boxes. Second-hand shopping is not only an environmentally-friendly option but it also offers lower prices and value for money.

 

This rapid growth is set to continue, with a forecast of 85.5% growth between 2022 and 2026, taking global apparel resale spend to $338.4 billion. 

 

Click HERE to see more trends that are expected to take form this year.

Nvidia unveils new AI workflows to help the retail industry with loss prevention

The National Retail Federation reported that in the past five years, shrinkage has increasingly become a $100 billion problem for retailers. Digging into shrinkage, the NRF says an estimated 65% of it is due to theft alone.

 

Enter Nvidia. Known for developing and manufacturing graphics processing units, the company announced three new Retail AI Workflows as part of its NVIDIA AI Enterprise software suite.

 

The workflow was pretrained with hundreds of images of the most-stolen products — such as detergent, alcohol, over-the-counter medications and even steak — so that the AI could recognize the variety of shapes and sizes that the bottles and packaging come in. New products scanned during checkout become part of the training as well.

 

Click HERE to read more about NVIDIA’s plan for theft protection.

Retail Snippets.

5G in retail: Top 5 changes 5G could bring to the retail industry in 2023.

 

The new age: How retailers are reshaping the advertising industry.

 

Holiday recap: Birkenstocks are one of the most purchased fashion items of 2022.

Random Irrelevance

End of an era: The last surviving Apollo 7 astronaut, Walter Cunningham, has died.

 

We’re not lion: The 2022 Comedy Wildlife Photography Awards are a good laugh.

 

A new perspective: Groundbreaking wireless TV ditches the remote and sticks to any wall without a mount.

Read More

January 12, 2023

Retail Traffic Trends #110: December Metrics are in! 📊🕰️

As we start the new year, it’s time to look back on December to see how things played out for top-performing stores.

Despite this December having less foot traffic than last year, both the furniture and mattress industries found ways to end the year on a high point.

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 December played out.

THIS WEEK’S HIGHLIGHTS

  • December in the furniture industry: More time spent with customers, higher conversion rate, and more prospects gathered.
  • December in the mattress industry: How the mattress industry increased average ticket by 4%.

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.

December 2022: Furniture industry

December furniture metrics

December 2022: Mattress industry

December 2022 mattress metrics

Retail Snippets

Finding the line: Retail industry legislation and policies to watch in 2023.

 

2023 Predictions: 10 Retail industry predictions for 2023.

 

Black Friday Sales: UPS projects handling up to 70M in returns from peak holiday season.

RANDOM IRRELEVANCE

Pinocchio: New take on ‘Pinocchio,’ filmed in Portland, wins Golden Globe as best animated movie.

 

Earth 2.0: NASA has discovered an Earth-sized planet orbiting in the habitable zone of its star.

 

Rise of the bots: ‘Scary’ AI ChatGPT could eliminate Google within 2 years.

Read More

January 5, 2023

Retail Traffic Trends #109: Total holiday spend up in 2022

Similar to the sales growth predictions we reported last week for the holiday season, consumer holiday-related spending rose by 6.7% compared to 2021.

As we start the new year, this week we look at how the holiday season played out and look at the retail trends we expect to make waves in 2023.

THIS WEEK’S HIGHLIGHTS

  • 5G in retail: Top 5 changes 5G could bring to the retail industry in 2023.
  • Report: Total holiday spend grew by nearly 7% in 2022.
  • 3 Trends for 2023: The retail trends we expect to take form in 2023.

FOOT TRAFFIC INDEX

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

Introducing Doorcounts New Hub

We’ve moved our release notes to a new home!

Here you can find our latest patch notes, a roadmap for future updates, and the ability to vote on features you would like to see in the future.

Your ideas and thoughts are fundamental to us and we want to hear from you!

Total holiday spend grew nearly 7% in 2022

Similar to the sales growth predictions we reported last week for the holiday season, consumer holiday-related spending rose by 6.7% compared to 2021, according to a new GlobalData report.

 The survey of more than 55,000 consumers found that shoppers spent 8.4% more on Thanksgiving, 6.9% more during Black Friday and Cyber Week, and 6.5% more during Christmas and other purchases during the holiday season.

As we started to notice earlier in the year, shoppers began preparing for the holidays much earlier this year with the earlier sales holidays seeing more traction than ones closer to the holidays.

Both online and physical stores saw improvements from the previous year, Online sales rose by 7.4% and physical store sales increased by 6.6%.

Click HERE to read the full analysis of the holiday shopping season.

Four Trends That Will Shape Retail In 2023

At the beginning of each year, Forbes selects key trends that they see driving the industry in the year to come.

As inflation continued to affect consumers, the global apparel resale market grew an estimated 30.1% to $182.4 billion in 2022 according to data and analytics company GlobalData.

Resale ticks two very important boxes. Second-hand shopping is not only an environmentally-friendly option but it also offers lower prices and value for money.

This rapid growth is set to continue, with a forecast of 85.5% growth between 2022 and 2026, taking global apparel resale spend to $338.4 billion. 

Click HERE to see more trends that are expected to take form this year.

Retail Snippets.

5G in retail: Top 5 changes 5G could bring to the retail industry in 2023.

 

The new age: How retailers are reshaping the advertising industry.

 

Holiday recap: Birkenstocks are one of the most purchased fashion items of 2022.

Random Irrelevance

End of an era: The last surviving Apollo 7 astronaut, Walter Cunningham, has died.

 

We’re not lion: The 2022 Comedy Wildlife Photography Awards are a good laugh.

 

A new perspective: Groundbreaking wireless TV ditches the remote and sticks to any wall without a mount.

Read More

December 29, 2022

Retail Traffic Trends #108: Doorcounts Year-End Wrap Up

As we begin to wrap up 2022, this week we unwrap the data and see how the year played out for Doorcounts customers.

With over 3 million customers helped by salespeople, this year was a true test for salespeople in all industries.

THIS WEEK’S HIGHLIGHTS

  • Yearly wrapped: See how the year played out for Doorcounts customers.
  • Foot traffic recap: How last week compared to the same time last year.

FOOT TRAFFIC INDEX

CLICK HERE to subscribe to Daily Foot Traffic Index

Week 50 2022 retail foot traffic

FOOT TRAFFIC TRENDS

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

Read More

December 21, 2022

Retail Traffic Trends #107: Super Saturday Unwrapped

While Super Saturday is usually the last push for shoppers to get any lingering gifts, this year has proven to shoppers that the early bird gets the worm.

This week we look at Super Saturdays from the past and see how Holiday shopping patterns have begun to shift over the years.

THIS WEEK’S HIGHLIGHTS

  • Super Saturday: Inside the last-minute shopping boom.
  • Livestream shopping: Why US consumers are not picking up on the popular trend.
  • 30 Under 30: Meet the young entrepreneurs who are reshaping the retail industry.

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

Week 50 2022 retail foot traffic

FOOT TRAFFIC TRENDS

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

Super Saturday for DC customers

While Super Saturday is usually the last push for shoppers to get any lingering gifts, this year has proven to shoppers that the early bird gets the worm.

This year on the last Saturday before the holidays, most industries saw more foot traffic than the average Saturday, but not nearly on the same level as we saw last year.

The furniture industry saw 19% more traffic than it saw on December 18th, 2021 (the Saturday before Christmas), yet had the same level of traffic as it had on the first Saturday of December 2022.

For the Mattress industry, Super Saturday has 32% less foot traffic than they saw last year, and similarly, the mattress industry also saw 31% less foot traffic compared to last year.

In conclusion, this year we are seeing shoppers crossing off their Christmas lists earlier than we’ve seen in the past.

The latest on Retail Trends

Despite livestream shopping events skyrocketing in popularity in China and many companies in the US dedicating resources to virtual events, consumers in the US struggle to see the value.

A recent report by Morning Consult found that Nearly 80% of US adults have never participated in a live shopping event, and less than a third of U.S. adults have seen, heard of, or read about live shopping events overall.

Among the reasons why, 35% of respondents said they were concerned about product quality, seller integrity, and shipping concerns, and  54% of respondents said they were not comfortable shopping through social media platforms.

Click HERE to learn more about the latest retail trends.

Retail Snippets.

Kidults: Adults are buying toys for themselves, and it’s the biggest source of growth for the industry.

30 Under 30: Meet the young entrepreneurs who are reshaping the retail industry.

Holiday forecast: What Black Friday sales tell us about the retail sector.

RANDOM IRRELEVANCE

End of an era: Oregon bans sales of new gas-powered cars by 2035.

Safe-scrolling: Senate votes to ban TikTok use on government devices

A new perspective: NASA gets an unusually close glimpse of a black hole snacking on a star.

Read More

December 21, 2022

Retail Traffic Trends #106: Rundown – Find out what’s trending with consumers!

Despite consumer behaviors and trends changing at a fast pace, consumers continue to expect consistently great retail experiences, now more than ever.

This week we discuss evolving consumer habits and why some pandemic-born trends are here to stay.

THIS WEEK’S HIGHLIGHTS

  • Latest retail trends: From appointment shopping to digital assistants
  • Evolving consumer habits: consumers are demanding consistently great retail experiences.
  • The Future Of Retail: Four ways for the retail industry to utilize AI.

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.

Evolving consumer habits

Regardless of where consumer habits bring people to shop, whether that be online or in-store, consumers are demanding consistently great retail experiences.

A recent survey by Ris news asked retailers what they think can be done to keep up with the ever-changing consumer habits. Some of the major takeaways included improving inventory visibility, empowering workers with technology, and becoming a master of the return process.

Today, about 30% of all products ordered online are returned, compared with only 8.9% bought in brick-and-mortar stores. According to a Peerless Research Group study, only 32% of retailers have any formal process for managing returns. By managing returns efficiently, you can reduce transportation and labor costs, enabling higher recovery of returned and excess inventory.

Click HERE to learn more about how to keep up with the ever-changing trends.

The latest on Retail Trends

While some trends come and go, there were a few trends that have stayed with consumers throughout the year.

Similarly to what we found earlier this year, nearly 40% of consumers are still willing to pay extra for climate-conscious products. Nearly two-thirds of shoppers (63%) would also recommend a product if they think it isn’t very harmful to the planet.

Security is still a major concern for many shoppers. In 2021, retail organizations saw a 75% increase in cyberattacks compared to the year before. If customers don’t feel that their personal information is kept safe, they become far less likely to make purchases at your online store.

Lastly, appointment shopping, which emerged at the beginning of the pandemic, is becoming a premier in-store experience that many customers are looking to have.

Click HERE to learn more about the latest retail trends.

Retail Snippets.

The Future Of Retail: Four ways for the retail industry to utilize AI.

 

Report: Retail group expects $816 Billion worth of returns this year.

 

Holiday hiring: Best Buy, TalkShopLive debut in-store pickup for livestream shopping.

RANDOM IRRELEVANCE

A new perspective: Upcoming Nasa mission will give an unprecedented view of Earth’s surface water.

 

Safe-crossing: Microsoft Teams chat is coming to Outlook.

 

Device protection: Your iPhone and iPad have an awesome new security feature. Here’s why you need to turn it on now.

Read More

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