April 6, 2021

Retail Traffic Trends #20: March metrics reveals a shift in retail

As April rolls on we take a moment to see how March metrics compared to months past.
 
March metrics reveals a turning point for retail and e-commerce as lockdowns began throughout the world.
 
From March and on, we saw 10 years of e-commerce growth in just a few months.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • See how the furniture  metrics have changed since last March
  • How the mattress industry has adapted to the ever-changing world of e-commerce
  • How consumer behavior has changed -and is not going back
  • Turn your foot traffic into more sales with a 90-day free trial of Doorcounts 3.0.

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

DC FEATURE OF THE WEEK

This is where each week we highlight a feature within Doorcounts. This week’s feature is:

Quick Entry
 
When your store gets busy, it can be hard for salespeople to enter all the information they gathered when they are pressed for time.
 
When QUICK ENTRY is enabled, Doorcounts will only ask a salesperson one question: Did the interaction with the customer end in a sale, no-sale, or potential sale?
 
Within less than 10 seconds of your salesperson’s time, Doorcounts calculates sales conversion, time with customers, and the breakdown of sale/no-sale/potential sales.

FOOT TRAFFIC TRENDS

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

March furniture metrics

As we’ve said before, from March and on, we saw nearly 10 years of e-commerce growth in just a few months.
 
There was almost a night and day flip of the switch where people went from shopping in stores, to exclusively shopping online.
 
While many retailers had placeholder websites just to have a presence online, the pandemic forced the hands of many retailers to quickly adapt.
 
Thankfully, thanks to the new “norms of retails”, such as BOPIS and BUY NOW PAY LATER, retailers are beginning to see new life in their stores.

Conversion rate down 4%: Although some metrics are returning to normal, conversion rate is down 4% from March 2020, and also down 4% from last month.

Average Ticket up 18%: Average ticket has stayed strong with an 18% increase year-over-year, while seeing a small decrease of 4% compared to February 2021.

Daily Revenue up 103%: Compared to March 2020, which only saw around $7,600 in daily revenue, March 2021 brought in $15,485 in daily revenue with an increase of 103%.

Daily Opportunities up 79%: Daily opportunities are the total shoppers who visit your store. Although sales conversion was down 4%, a 79% increase in foot traffic helped keep daily revenue and average ticket up.

New Prospects up 341%: As we’ve said in the past, new prospects are people who left the store without buying.  At one point in the pandemic, people only went to a store unless they were 100% going to buy something. Now, we are back to seeing people leave the store without buying as 341% more people left stores without buying compared to March 2020.

March mattress key metrics

Similar to the furniture industry, the mattress industry had a breath of fresh air as March showed signs of normal.
 
No matter the e-commerce trend we are seeing, mattresses are one of those items that cannot be fully experienced without brick-and-mortar locations.
 
Customers are slowly beginning to normalize going back to stores and we have started to see more and more traffic in the mattress industry.

Conversion rate up 1%: Weirdly enough, the mattress industry saw a 0.35% increase since last March, and a 0.37% increase since last month (February 2021). Regardless of all the craziness of the last year, conversion rate hasn’t seen much movement at all.

Average Ticket up 38%: Although average ticket increased 38% compared to March 2020, when compared to last month, which had the highest average ticket in over a year, there was an 8% decrease in average ticket.

Daily Revenue up 182%: March 2020 was a dark time for retail. Thankfully, a year later daily revenue is up 182% and is up 7% from February 2021. It’s amazing the difference a year can make.

Daily Opportunities up 63%:  Almost a year to this day, March 20th to be exact, lockdowns were enacted and people physically could not enter a retail store. In March of 2021, we see foot traffic up 63% year-over-year and also up 15% from February 2021.

New Prospects up 203%: As we’ve said, new prospects are customers who left the store without buying.  To put the 205% into perspective, new prospects went from one customer to three customers in the last year. Thankfully, new prospects only saw an increase of 19% increase since February 2020. 

NOTEWORTHY NEWS

Consumer habits: How has the pandemic changed buying habits -and why it will become the new normal.
 
Ghost bed goes brick-and-mortar: The infamous online bed company is entering the world of brick-and-mortar.
 
Anti-dump: The DOC antidumping decision polarizes the bedding industry.
 
Creature comfort: Malouf Introduces Creature Comfort Line as consumers continue to spend more money on their pets.

RANDOM IRRELEVANCE

Golden game: After sitting in a drawer for 34 years, a video game sells for $660,000.
 
Voltswagon: Volkswagen apologizes after an April-fools joke gone wrong.
 
ET-rex: Scientists discover a monstrous new cousin of the T. Rex in Argentina.
 
Space copter: NASA’s Ingenuity helicopter survives first night alone on Mars.

Read More

March 29, 2021

Retail Traffic Trends #19: Blocked Canal’s Effect on Retail

This week we discuss the effect a blocked canal has on retail and the rising demand for big data analysis in retail.

WHAT’S IN STORE THIS WEEK?

  • The rising tension between retailers and landlords
  • A blocked canal’s effect on retail
  • Why more retailers are becoming data-driven
  • Turn your foot traffic into more sales with a 90-day free trial of Doorcounts 3.0.

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:

Sale Performance – No Sale Reason

Why do customers leave your store without buying?

Finding points of friction within the customer experience and improving upon them is one of the simplest ways to increase your sales conversion.

The No Sale Reason tab shows a pie chart breaking down all of the reasons for no-sales. The tab shows the top reason for no-sales for the company as a whole and each store by itself.

FOOT TRAFFIC TRENDS

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

Supplier diversity

Having diversity within your supply chain has become increasingly important as inventory levels continue to lag in 2021.  
 
On top of low inventory levels, we’ve seen how a single ship can completely halt the traffic of the Suez Canal, which is responsible for 12% of the world trade.
 
The fact that one ship stuck in a canal across the country could be the downfall of millions of businesses is a very scary thought for many retailers.
 
Shipping logistics have advanced to the point where many businesses have implemented just-in-time manufacturing to limit costs and increase profits.
 
Many retailers stopped storing products in storage facilities or warehouses because they believe they can simply have the product shipped to them at a moment’s notice.

Retail vs landlord

As retailers struggled to pay rent with little to no traffic throughout the greater parts of 2020, some landlords began charging retailers a percentage of their monthly sales rather than a fixed amount.
 
What started as a way to help retailers be able to pay their rent has turned into a battle between retailers and landlords over what is considered a sale.
 
For example, should an online sale be considered a sale if the physical location of the store played no part in the sale?
 
The grey area of sales only gets more complicated when customers buy online and pick up in-store.
 
Both landlords and retailers can make equally compelling arguments, which is why it’s incredibly important to clear up the grey area before the bridge starts to burn.

Big data analysis

As readers may or may not know, we at Doorcounts are big on retail data.
 
More and more retailers are using data to drive decisions, better understand the customer journey, and turn their foot traffic into more sales.
 
As reported by Valuates, Big data analytics was valued at 4.43 billion in 2019 and is expected to reach nearly 18 billion by 2027.
 
Retailers cannot solely rely on gut instinct for big decisions. Especially when more and more of the competition is relying on data to better understand the customer experience.
 
If you haven’t started using data to better understand what is happening in your store, try Doorcounts 3.0 free for 90 days or give us a call and learn how we can customize the system for your business.

AI is no joke

Let’s be real – Artificial intelligence is an intimidating concept.
 
It wasn’t until recently that I could even wrap my head around the fact that AI is a real thing, not just something you see in a  sci-fi movie.
 
Artificial intelligence has advanced to the point where retailers are using AI to improve their business.
 
AI allows businesses to optimize their inventory and price levels by comparing to the local market and industry foot traffic trends.
 
Retailers have also used AI to Increase Contactless Retail Within Physical Stores by automating a process that usually required manual input.
 
It is worth taking a look and see how AI can be used to improve your business.

NOTEWORTHY NEWS

Suez canal: The latest update on the boat stuck in the Suez Canal.
 
Social responsibility: Ashley Furniture Releases First-Ever Corporate Social Responsibility Report.
 
Level up: A look at the new way retailers use property data to stay ahead of the game.
 
Livestream marketing: As retailers begin to embrace live-streaming, the live-streaming market is expected to reach $11 billion in 2021.

RANDOM IRRELEVANCE

Silicon of the future: After 70 years of allowing tech to get smaller and smaller, silicon may have finally met its match.
 
For the love of nurses: Banksy sells artwork, “nurses as superheroes” for $23 million in support of nurses.
 
Petty business: 90,000 greasy pennies dumped on Georgia man’s drive as final payment after quitting his job.
 
NW light show: Debris from Space X’s latest launch resulted in a brilliant light show for people in the Pacific North West.

Read More

March 22, 2021

Retail Traffic Trends #18: Solving the mystery of lost revenue

This week we explore the mystery of abandoned shopping carts and the solution to lost revenue. 

WHAT’S IN STORE THIS WEEK?

  • The return of “stores within a store”
  • A solution to loss revenue
  • The effects of a thriving homebuilding industry
  • Dos Marcos mattress podcast introduces FAM – For all things Mattress
  • Turn your foot traffic into more sales with a 90-day free trial of Doorcounts 3.0.

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:

Sale Performance – Add-on Items

Add-on items are a great way to increase your average ticket and complete a customer’s purchase.

Tracking your add-on items is essential for being able to see if the items are priced appropriately enough to get customers over the buying line.

The Add-On Items tab lets you can see the percent of transactions as a whole that add-on items represent and also the percent of specific sales.

FOOT TRAFFIC TRENDS

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

Store within a store

The old trend of having a store within a store is making a comeback.
 
As stores struggle to reach similar foot traffic as they’ve seen in the past, having another store in your store increases product knowledge and foot traffic.
 
Target has announced they are expanding their “apple stores” within Target with the hope that people go to Target for both their grocery shopping and electronic needs.
 
Having a kiosk or a store within a store allows you to have an expert on a product that you already sell (such as a Tempurpedic mattress) and reassures customers of their purchases.

Solution for lost revenue

In Q2 of 2020,  salesforce found that 85% of shoppers abandoned their cart without buying.
 
As marketers struggle to find ways to get consumers to revisit their cart, buy now pay later may be the solution they have been looking for.
 
Buy now pay later gives customers flexibility and relieves any post-purchase regrets.
 
After rolling out buy now pay later, Klarma, a service provider, saw a 30% increase in sales conversion.
 
Not only does it increase conversion, but buy now pay later has seen to be an attraction that brings customers to physical stores and can increase the average ticket by up to 200%. 

FOR ALL THINGS MATTRESS

Our friends at Dos Marcos are proud to announce The FAM is now the new home for the Dos Marcos Show (and much more).
 
From inspiring stories about retailers to podcasts, news, articles, and all things mattress.
 
Check out their latest podcast and more HERE.

Homebuilding

Although most industries have been majorly affected by the pandemic, the home-building industry has seen few bumps in the road.
 
Aside from April and May of 2020, the home-building industry has been nearly unfazed.
 
 More homes being built means more homes on the market. In January 2021, new home sales jumped 4.3% month over month.  
 
At the same time, the furniture industry saw a 10.4% increase in daily revenue.
 
New homes, compared to old homes that are newly on the market, require much more furniture and have a direct impact on the furniture, mattress, and appliance industries.

Bridging the divide

As we have said in the past, a seamless transition between online and physical stores is becoming increasingly important.
 
This is easier said than done, but more and more tools are becoming available to bridge the divide.
 
One of the more unique solutions we’ve come across is Shopitelligence. (No ad here, just intrigue.)
 
Shoptelligence, an AI-based platform that helps shoppers discover more of a retailer’s assortment by providing interactive rooms around any item a shopper is viewing, has become one of the more popular omnichannel solutions.
 
In 2021, Shoptelligence users have used digital cross-category merchandising that has lifted order size by up to 49 percent. 
 
No matter how you do it, bridging the digital gap should be on the to-do list for retailers.

NOTEWORTHY NEWS

Boomin’ furniture: Booming furniture sales mean ‘unprecedented’ delays for sofas and desks.
 
Precision fibers: A supplier of coated fabrics offer alternative to hard-to-get foams.
 
Metro foot traffic: Metro areas show increase in consumer foot traffic across the board.
 
Stimulated retail: After a wave of foot traffic in January due to another round of stimulus checks, when to expect the next rush of foot traffic.

RANDOM IRRELEVANCE

Gone Bananas: Reddit investors ‘adopt’ 3,500 gorillas in less than a week.
 
Volcanic Iceland: After being dormant for 6,000 years, A volcano in Iceland comes to life.
 
Trapped in ice: Scientists discover Antarctic marine life trapped under ice for half a century.
 
Milky way: For all my fellow space geeks, see the Milky Way photo that took 12 years to complete.

Read More

March 16, 2021

Retail Traffic Trends #17: The pandemic’s lesson on foot traffic

This week we take at the increasing foot traffic in retail and look at the pandemic’s lesson on inventory.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • The pandemic’s lesson on inventory
  • The key to store-based fulfillment 
  • How live-streaming is taking over China’s marketing
  • Dos Marcos mattress podcast discusses how time changes create an opportunity to have a conversation with your customers.
  • Turn your foot traffic into more sales with a 90-day free trial of Doorcounts 3.0.

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:

Emailing statistics

As we’ve all seen throughout the craziness of the last year, following up with customers after they leave the store is crucial when trying to turn your foot traffic into more sales.

Not only can you follow up through email within Doorcounts, but you can track and analyze the status of the emails sent out to customers.

FOOT TRAFFIC TRENDS

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

The pandemics lesson on Inventory

If the pandemic taught us anything, it is the importance of keeping inventory up-to-date.
 
Consumers prove they still want to shop in stores with the increasing popularity of curbside pickup and BOPIS.  Although shoppers are slowly returning to physical stores, they limit their time in stores which continues to put pressure on accurate inventory levels.
 
This is easier said than done as inventories are still lagging sales growth in 2021.  As inventory levels slowly return to normal and the next round of stimulus checks are sent out, retailers can expect a boost in the months to come.

Marketing for foot traffic

As retailers see foot traffic slowly return to normal, there are simple marketing tools and techniques that can be used to increase your foot traffic.
 
For one, radio is still alive and well with over 80 million Americans listen to podcast weekly in 2021.
 
Secondly, keeping your Google My Business up-to-date is incredibly important as it is now the first thing visible on Google on mobile devices.
 
When consumers google your store, Google My Business is the highlighted box that appears above all other searches.  Having updated store hours and product highlights on this page can greatly enhance your store’s foot traffic.

This week on Dos Marcos

Daylight savings is a concept that has been disputed former many years. This week Dos Marcos discuss the effects of time changes and how it creates an opportunity to have a conversation with your customers.

Store-Based Fulfillment

A recent study of 140+ U.S. retail executives who offer at least one form of online-in store fulfillment found that the pandemic resulted in a 5X increase in Ecommerce volume compared to last year.
 
While many industries still require a physical showroom, the need for a seamless connection between online and physical stores is at an all-time high.
 
The study found that 80% of shoppers said they were likely or very likely to have digital interactions with store associates over the next six months.  The issue is that only around 50% of retailers currently use digital tools to reach out via email or text.
 
The idea that customers don’t want to be bothered with a text or email has completely changed since the pandemic and people wanting to spend less time in a physical store.

Live streaming – future of marketing?

As the pandemic continues to shake up the way retailers spend on marketing, live streaming has taken over China’s marketing.
 
In 2020 alone, live-streaming generated $135 billion in Chinese e-commerce sales, while the use of live-streaming as marketing is a relatively new idea in the US.
 
As lockdowns swept across the US, a select few retailers used live-streaming to stay connected with their customers.  This was not the type of live stream that required paying an influencer, but instead, a live stream started by salespeople highlighting new products and having candid conversations with customers.
 
These associate-driven live streams position employees as product experts and brand curators. 

NOTEWORTHY NEWS

Furniture hype: The Patio chairs featured in Oprah’s Meghan and Harry interview was made by a ‘Brady Bunch’ actor –  and sold out in minutes.
 
Retail’s future: How the future of retail will be open-air, curbside, and data-driven.
 
Up in flames: A new flammability regulation requires updated labeling in 2021.
 
Customer-centric: How to understand and embrace the heart of your customers.

RANDOM IRRELEVANCE

Active matter: Researchers discover a new state of active matter that bends the laws of physics.
 
St. Patty surprise: Chicago delivers St. Patrick’s Day surprise, as the river runs green again.
 
Dungeons & Dragons: The infamous strategy game had its biggest year ever as Covid forced the game off tables and onto the web.
 
Peeps get a makeover: Hipdot and Peeps team up for an unexpected collaboration.

Read More

March 8, 2021

Retail Traffic Trends #16: Average ticket up 15% in February

This week we look at how the mattress industry compared to last month and how the furniture industry has evolved since last February.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • See how the furniture industry has changed since last February
  • How the mattress industry compared to last month
  • Cost-effective marketing tools
  • Dos Marcos introduce us to the new home of the show: FAM.news
  • Turn your foot traffic into more sales with a 90-day free trial of Doorcounts 3.0.

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

DC FEATURE OF THE WEEK

This is where each week we highlight a feature within Doorcounts. This week’s feature is:

Monthly Statistics
 

As you start each month, it’s always good to look at the previous month to see what went well and what needs to be improved upon.

The Monthly Statistic tab shows you a comparison of each month with the metrics that you select.

Monthly statistics can be compared at both a location and employee level.

FOOT TRAFFIC TRENDS

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

February furniture key metrics

February is yet another month that gives us hope that the retail industry is slowly returning to normal.

Conversion rate up 1%: Although the conversion rate is up 1% from February 2020, the furniture industry also saw a 4% increase from last month.

Average Ticket up 15%: Average ticket has stayed strong with a 15% increase year-over-year and a 6% increase from last month.

Daily Revenue down 4%: Average daily revenue went from $17,754 last February (2020) to $17,071 in February 2021. Compared to last month, average daily revenue saw a similar drop with a 5% decrease.

Daily Opportunities down 14%: Daily opportunities are the total shoppers who visit your store. Although most metrics rely on people coming into stores, an increase in sales conversion can level out the 14% decrease in foot traffic since February 2020.

New Prospects up 12%: As we’ve said in the past, new prospects are people who left the store without buying. We’ve seen 12% more customers leave the store without buying in comparison to last February and 30% more since last month.

February mattress key metrics

Unlike the furniture industry, the mattress industry was in the red in nearly all metrics despite an increase in new prospects — which is not a good thing.

Conversion rate down 2%: The mattress industry not only saw a 2% decrease compared to February 2020, but the conversion rate saw a 4% decrease compared to last month (January 2021).

Average Ticket down 3%: Although average ticket saw a slight decrease of 3% compared to February 2020, February has the highest conversion rate of 2021 so far. Given there have only been 2 months in 2021, a 5% increased compared to January 2021 is a good sign for the months to come.

Daily Revenue down 3%: If both conversion rate and average ticket are down, it’s an uphill battle to keep daily revenue afloat. Daily revenue isn’t the same as it was last year, but compared to last month, the mattress industry saw a 9% increase in daily revenue.

Daily Opportunities down 6%: Foot traffic still struggles to see the levels they were at in February 2020. Daily opportunities saw a decrease of 6% year over year and a similar decrease of 4% compared to January 2021.

New Prospects up 154%: As we’ve said, new prospects are customers who left the store without buying. To put the 154% into perspective, new prospects went from one customer to three customers in the last year. Thankfully, new prospects only saw an increase of 13% increase since January 2020.

DOS MARCOS MATTRESS PODCAST

This week the Dos Marcos Mattress Podcast introduces you to the new home of the show: FAM.news!! FAM=For All-things Mattress is the first-ever all audio media platform delivering you written and audio versions of every news source, article, and sleep education piece posted on the site.

NOTEWORTHY NEWS

Cost-effective marketing: 3 cost-effective marketing tactics that will help you get ahead of your competition in the furniture market.
 
Women in retail: The diverging impact of COVID-19 on women working in retail.
 
Buy now, pay later: How you can increase revenue and loyalty with buy now, pay later options.
 
Retail spending: Researchers predict 2021 to be the biggest sales year for retail since 2004.

RANDOM IRRELEVANCE

Banksy in flames: A blockchain company buys and burns a Banksy artwork to turn it into art of their own.
 
Hidden treasure: Although we all hope to find a golden treasure on the beach, a woman found $250,000 worth of whale puke while on a beach walk.
 
Experimental retail: A futuristic world of moving lifelike robots surround the latest flagship store for South Korean eyewear brand.
 
Dr. Seuss: Six Dr. Seuss books are dropped from publication after review finds imagery offensive.

Read More

March 1, 2021

Retail Traffic Trends #15: First-time homebuyers on the rise

This week we take a look at the effect first-time homebuyers have on retail and all things trending in the retail industry in 2021.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • First-time homebuyers and retail industry
  • How to use the changes in retail to your advantage
  • The new world of social commerce
  • Dos Marcos mattress podcast discusses how to stay relevant and how to gut check whether you’re falling behind.
  • 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: February in review

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:

Sales statistics (Day)

Seeing an overall view about how your stores are doing throughout the week or month is great, but sometimes you need to take a deep dive into a specific day.

 
The Sales Statistic by Day tab shows you every metric for each of your stores in a sheet that can be exported in multiple formats such as CSV or PDF.
 
For someone who loves digging into the data, the Sales Statistic by Day tab is a great tool for comparing specific days.

TRY DOORCOUNTS 3.0 90 DAYS FREE!
…and cure YOUR traffic blindness! 

Get your 90-day free trial today and start turning your foot traffic into more sales, with no obligation.  And if you already have Doorcounts, get an upgrade.

FOOT TRAFFIC TRENDS

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

Learning from the past

Many trends that emerged in 2020 due to the pandemic are going to be here to stay for a while to come — and this could be a good thing for retailers.
 
One of the more obvious trends was the shift to working for home for many people around the world. 4.7 million Americans already worked from home before the pandemic in 2019, and now a survey from Global Workplace analytics finds that 56% of the US workforce has a job that allows working from home.
 
While 56% of the workforce is in a position to work from home, only around 24% are still working from home in 2021.
 
For retailers in the furniture, mattress, and appliance industry, this is a very promising trend.

First-time homebuyers

A major influence of the furniture, mattress, and appliance industries is the housing market.
 
If people aren’t buying new houses, there isn’t a major rush for new furniture and appliances — although we have seen a decent rush from the increase of people working from home.
 
In 2020, there were 1.86 million first-time buyers who bought a home which resulted in a 9% increase in first-time buyers since 2019.
 
Although first-time homebuyers are not usually ones to get new or expensive furniture, with 24% of the workforce still working from home, people started looking for bigger homes in 2020.
 
In 2020, single-family home sales rose 6.3% while condominium sales decreased by 0.3%.

This week on Dos Marcos

This week our friends at Dos Marcos explain ways to stay relevant and how to gut check whether you’re falling behind.

Social commerce

Although shopping online isn’t anything new, the idea of shopping directly from a social platform without having to go to a third-party website is still relatively new.
 
Last year Shopify partnered with Tok-Tok as a way for people to order a product directly from Tok-Tok without having to leave the app.
 
The partnership allows Shopify merchants to create shareable content that turns their products into In-Feed video ads that will appear throughout the platform.
 
Similarly, Facebook released Shops in 2020,which adds an amazon-like marketplace to the biggest social media platform.
 
As the pandemic continues and social media continues to grow, the global social commerce market is estimated to increase at a soaring rate of 31.4%.

Brick and mortar tools

Although some of the digital and social commerce can be useful for the appliance, furniture, and mattress stores, there really is no replacing the brick and mortar stores.
 
There are now smart tools you can you to find the brick and mortar location that is best for your store.
 
Sometimes a building will just speak to you, but other times you really need to look at the data to see if the location makes sense for your company.
 
A great place to compare locations is Google Trends which allows you to search which areas produce more searches or compare terms by geographic location.

NOTEWORTHY NEWS

Go big or go home: Corsicana Mattress to build a 376,000-square-foot facility in their hometown.
 
Growth: The Covid vaccine triggers the fastest economic growth in over two decades.
 
Appliance global report: See how 2020 played out in the Household Appliances Global Market Report for 2021.
 
Future of durables: As consumers have already gorged themselves on durable goods such as TVs and furniture, see which items are on consumer lists.

RANDOM IRRELEVANCE

Get out while you can: Social distancing has resulted in the world’s largest snow maze nearly doubling in size.
 
Autonomous store: The world’s biggest camera-operated autonomous store has opened in Shanghai.
 
Mitten Bernie: Bernie Sanders’ mittens propelled $1.9M in Etsy sales last month.
 
Albino deer: A New Jersey man’s doorbell camera records a visit from a rare albino deer.
 

Read More

February 22, 2021

Retail Traffic Trends #14: Changing Consumer Perception

This week we take a look at the changing consumer perception and the factors affecting the retail industry in 2021.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • Financial relief and the effect on retail sales
  • The changing consumer perception in the furniture industry
  • Different ways to close the digital divide between online and physical stores
  • Dos Marcos mattress podcast explains creating a culture of ownership
  • 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: TBD

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:

Global Search

Finding the exact customer from a specific day or trying to find a specific order can be a time-consuming task.

In seconds with the Search tab in Doorcounts, you can search for a customer, a specific phone number, and an order number or date.

Within search, you can see all of the personal information added about each transaction such as what the customer was looking for or what their budget is.

TRY DOORCOUNTS 3.0 90 DAYS FREE!
…and cure YOUR traffic blindness! 

Get your 90-day free trial today and start turning your foot traffic into more sales, with no obligation.  And if you already have Doorcounts, get an upgrade.

FOOT TRAFFIC TRENDS

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

This week we take a deep dive into consumer behavior and end the factors that affected retail in 2021.

A shift in consumer behavior

From spending more time on leisure activities to an expectation for online and physical stores to coexist, the retail industry has seen a major shift in consumer behavior.
 
As we expected, the pandemic initially resulted in a major spike in online sales as people tried to limit their exposure.
 
 In 2021 there has been a shift from consumers exclusively shopping online to an expectation for online to be an extension of the physical store.
 
This is good news for retailers as it shows that consumers still want to shop in-store, but want to limit their time there.
 
Essentially, people want to find exactly what they want online and to be told exactly which store or location they can pick up the product. For retailers, this means having your website regularly updated with the inventory in-store.

US vs UK retail sales

While the US saw a 5.3% increase in sales in January 2021, the UK saw an 8.2% decrease. Why would this be?
 
Last month the second round of stimulus checks went out in the US.  As we know, if you give us Americans money, we will spend it.
 
It’s clear that there are multiple variables besides the pandemic that are affecting the retail foot traffic.
 
The UK, which received no financial relief within the last month, struggles to see constant foot traffic in their stores.
 
Compared to February 2020 before the pandemic was in full effect, retail sales volume is down 5.5% in the UK.
 
It is very likely that without the financial relief in the US, the retail industry would’ve seen a similar drop as the UK.

This week on Dos Marcos

this week our friends at Dos Marcos explains creating a culture of ownership and why you shouldn’t train salespeople to get things right.

Leisure time

Another shift in consumer behavior is consumers spending more time on leisure activities such as self-care, mental health, and physical wellness products.

 
This shift is a result of people spending a significantly more amount of time at home over the last year.
 
For the first time in ten years, the amount of time people spend watching television is up.
 
Thankfully for the furniture industry, more time spent watching tv means more time realizing how uncomfortable your couch is.
 
As always, we will keep you updated as consumer behavior continues to change.

Pandemic actions and consumer perception

As the pandemic continues, consumer perception of stores is changing depending on the actions and messaging of retailers.
 
A study that polled 2,000 retailers in the US and UK found that 86% of people have changed their perception and 70% have changed their behavior toward certain companies because of the pandemic.
 
While some customers want to feel as safe as possible, others want to feel like they can have a normal shopping experience.
 
There’s no right or wrong solution to consumer perception, but you can never go wrong with being clear with your customers about what you are doing in the current retail environment.

NOTEWORTHY NEWS

The other side: What to expect in retail as more and more of the population become vaccinated.
 
Furniture industry: A recent survey from the Furniture Industry Index state suggests the state of the furniture industry continues to improve.
 
Tik Tok to sales: A viral Tik Tok helped a soda brand increase its sales 200% in just one day.
 
Winter in retail: As a winter storm sweeps across the United States, see the effect the snowy conditions had on retail.

RANDOM IRRELEVANCE

Future of endangered species: Scientists have cloned the first U.S. endangered species from the genes of an animal that died more than 30 years ago.
 
Lincoln in the snow: A man from New Jersey created a life-size snow sculpture of the Lincoln Memorial.
 
Act of kindness: A Houston furniture store offers shelter after a winter storm causes many people to search for a warm place to sleep.
 
Three mile: A 90-year-old Seattle woman trudged three miles through 10 inches of snow to get her vaccine shot.

Read More

February 15, 2021

Retail Traffic Trends #13: Valentine’s Day key metrics

This week we how Valentine’s Day key metrics compare over the years and the relationship between mattress sales and Valentine’s day.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • See how Valentine’s Day key metrics compare over the years
  • The relationship between mattress sales and Valentines day
  • Different ways to close the digital divide between online and physical stores
  • Dos Marcos mattress podcast share..
  • 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: TBD

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:

Podium integration
 

In the retail industry, getting a customer review quickly after the engagement is over can greatly enhance the review.

With Podium integrated into Doorcounts, you are able to request a customer review with the click of a Button as soon as the customer leaves the store

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.

FOOT TRAFFIC TRENDS

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

Although Valentine’s day is more known for flowers and chocolates these metrics may change your mind.

Valentine’s day key metrics (furniture industry)

This week we see the effect love has on buying furniture (probably not as strong as the effect on the mattress industry).

Conversion rate up 3%: Although the conversion rate is down 4% from Valentine’s day 2020, the furniture industry saw a 9 increase Valentine’s day 2019 to 2020.

Average Ticket up 29%: Salespeople don’t mess around on Valentine’s day. In 2020, salespeople converted 25% more sales on Valentine’s day than in 2019, and they converted 29% more this year.

Daily Revenue up 33%: Average daily revenue usually sees a spike on weekends, but nothing like the spike on Valentine’s day. Average daily revenue was up 33% this Valentine’s day and was up 75% in 2020 compared to Valentine’s day 2019.

Daily Opportunities up 12%: Daily opportunities are the total shoppers who visit your store. When you thought your significant other was buying flowers, they may in fact have been looking at furniture. Foot traffic was up 12% on Valentine’s day 2020 and was up 35% the previous year.

New Prospects up 45%: As we’ve said in the past, new prospects are people who left the store without buying. Unfortunately, we’ve seen 45% more customers leave the store without buying in comparison to last Valentine’s day and 80% more since Valentine’s day 2019.

TRY DOORCOUNTS 3.0 90 DAYS FREE!
…and cure YOUR traffic blindness!

Get your 90-day free trial today and start turning your foot traffic into more sales, with no obligation.  And if you already have Doorcounts, get an upgrade.

Valentine’s day key metrics (mattress industry)

The mattress industry may need to declare Valentine’s day as one of their biggest sales days of the year after looking at these metrics.

Conversion rate up 3%: Yes. You are seeing that right. The mattress industry had a conversion rate of 93% this Valentine’s day and was only up 3% from last Valentine’s day. When you compare Valentine’s day 2019 to 2020, you still only see a 2% increase. Valentines day = new mattress day

Average Ticket up 30%: In 2020, Valentine’s day saw a 1% decrease from 2019. This year Valentine’s day is back in full effect and resulted in a 30% increase in average ticket.

Daily Revenue up 83%: An increase of any other sales or performance metric is great, but the bottom line is normally how much money is being made. On Valentine’s day, the mattress industry saw an increase of 13% in 2020 and an 83% increase in 2021.

Daily Opportunities up 45%: Although people normally are in a panic to get presents on Valentine’s day, people made time for mattress stores this year. Daily opportunities on Valentine’s day saw an 11% increase in 2020, followed by a 45% increase this year.

New Prospects up 0%: As we’ve said, new prospects are customers who left the store without buying. In the last three years, there have been 0% new prospects on Valentine’s day.

NOTEWORTHY NEWS

Retail projections: CGP forecast predicts retail sales to rise 8% in 2021.
 
Digital divide: Changing consumer behavior has resulted in customers expecting an integrated experience between virtual and physical stores.
 
Malls reimagined: As more and more malls struggle to get people in the door, see how malls are repurposing their spaces.
 
Data disconnect: As more and more retailers are using data to justify business decisions, retailers struggle to capture the entire customer journey.

RANDOM IRRELEVANCE

This week in pictures: From Brady tossing the Lombardi trophy to a bear on the loose.
 
Art of nature: See an astonishing hummingbird sculpture made by Mother Nature.
 
Bitcoin: The cryptocurrency continues to rise over $50,000 as more Wall Street firms begin to adopt the currency.
 
Armageddon: A massive asteroid will flyby the earth next month, this may be the break Ben and Bruce have been waiting for.

Read More

February 7, 2021

Retail Traffic Trends #12: Daily revenue up 22% in January!

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:

Sales Statistics By Location
 
As a multi-store location, one of the hardest tasks can be getting all of the information you need from each store in one location.

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.

TRY DOORCOUNTS 3.0 90 DAYS FREE!
…and cure YOUR traffic blindness!

Get your 90-day free trial today and start turning your foot traffic into more sales, with no obligation.  And if you already have Doorcounts, get an upgrade.

NOTEWORTHY NEWS

Retail stock: See which retail stocks are worth keeping your eyes on in February.
 
Marketing in retail: All marketing strategies went out the door in 2020.  See which marketing trends to know in 2021.
 
A greener world: As more and more states try to achieve zero waste, lawmakers are making it easier to recycle old mattresses.
 
Consumer behavior: An ever-changing retail landscape has resulted in a shift in consumer behavior.

RANDOM IRRELEVANCE

Win a trip to space: A Super Bowl ad offers a seat on the first all-civilian spaceflight later this year.
 
Mattress Mack: The owners of a mattress store put it all on the line with a $3 million bet on the Buccaneers.
 
Cheese rush: Football fans are expected to eat nearly 20 million pounds of cheese over the Super Bowl weekend.
 
The gaming dream: After skyrocketing nearly 1600% in January, GameStop drops below $50 a share.

Read More

February 2, 2021

Retail Traffic Trends #11: Better data through the 3 C’s of clarity

This week we take a break from looking at data to the 3 c’s of clarity and how to better understand and analyze your numbers.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • See how comparison, contrast, and context lead to better insights
  • Why averages lie to you and how to see the big picture
  • Synthetic wood that grows in any shape you desire
  • 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: January Year-Over-Year review

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:

Open Floor Plan

When your store gets busy, it’s easier said than done to stick to the rotation of the upboard.

When Open Floor Plan is enabled, every customer that walks through the door is automatically unassigned. This way, any salesperson can help a customer without any confusion over who’s responsible.

FOOT TRAFFIC TRENDS

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

This week we take a break from number crunching and give you our perspective on how to better understand your performance data and to maximize your growth by applying the 3 C’s of clarity.

THE 3 C’s OF CLARITY

If you put one foot on a block of ice and one foot on fire your average temperature should be just right.

This silly analogy speaks to the problem with data (especially averages). Without comparison, contrast, and context the performance data about your business tends to lack meaning or it can even be misleading.

Unfortunately, you can no longer afford to not know everything about how your business is operating and how to maximize growth.

The good news is there are many powerful analytical tools to help you understand your data—like Domo, Tableau, and my favorite, Phocus. But the latest analytical tools will be of little use if you fail to see your data through a growth mindset.

In her book, Mindset, Carol S. Dweck, explains the concept of fixed versus growth mindset. Here are a few examples:

1. Stick with what’s known vs embrace change
2. Our failures define who we are vs our failures are just temporary setbacks
3. Intelligence and talent are fixed vs Intelligence and talent can be developed
4. Putting forth effort is worthless vs effort is the path to mastery
5. See the success of others as a threat vs views other’s success as a source of inspiration

Just Google fixed vs growth mindset and you’ll see all sorts of charts, quizzes, and what not to help you learn more about the idea and about your mindset. And definitely read the book.

An easy way to avoid seeing your date through a fixed mindset is to apply the 3 Cs. This simple formula will ensure your data reveal the information you need to grow your business:

Comparison + Contrast + Context = Clarity

Together comparison, contrast, and context have the power to light up the universe. But apart they do little to reveal what is unseen. Let’s examine each of them in their own context and see why.

Compare what’s similar
A comparison is to look for similarities.
President Theodore Roosevelt said, “comparison is the thief of joy”. What he meant is, rarely are comparisons fair. Rarely do we compare “apple to apples”. In fact, the opposite is true. Typically when we compare ourselves to others, we compare our worst to their best. And when comparing data, we tend to value the familiar over new information.

Contrast to show the difference
To contrast something is to show the difference. In investing, diversity is mixing different asset classes that act differently during different market cycles to manage risk. This is an example where contrast is essential. On the other hand, if you want to accelerate growth, choose comparison over contrast to combine similar investments in a concentrated fashion.

Combine comparison and contrast with context for true clarity


If data is king, then context is god (figuratively speaking of course). Context is the circumstances that form the setting in which your data can be fully understood and assessed. Context analysis is a method of analyzing the environment in which a business exists. A good example is called SWOT analysis which stands for strengthens, weaknesses, opportunities and threats, and is incomplete without comparing and contrasting key data.

The bottom line is, your understanding of how your business is running and how to grow is the difference between success and failure. Without the essential data about your business, you are truly lost.

So if find yourself adrift in a sea of data with no sense of direction. Just remember to align the lenses of comparison, contrast, and context, and set your course for greater understanding and serious growth.

And if by chance, you happen to try the fire and ice experiment, I’d love to hear the results.

TRY DOORCOUNTS 3.0 90 DAYS FREE!
…and cure YOUR traffic blindness!

Although we have fun with the concept of Traffic blindness, losing sales is no joke.
 
Get your 90-day free trial today and start turning your foot traffic into more sales, with no obligation.  And if you already have Doorcounts, get an upgrade.

NOTEWORTHY NEWS

Customer Reviews: We all know how important reviews can be to our businesses. Learn how to maximize user content and customer reviews to increase conversion and sales.
 
Lab-grown wood: Why cut down trees when you can grow wood in the exact shape you want?
 
Nation Retail Federation: See what will be the talk of the week at this year’s NRF.
 
Silver lining: Silver dealers scramble to find supplies as the demand for silver skyrocketed in the last week.

RANDOM IRRELEVANCE

GameStop mania explained: See how a group of “kids” on Reddit were able to raise the price of GameStop stock by 1500%.
 
Bet on your traffic: The Super-bowl weekend is a sport-betting weekend like no other, and this year, betting on foot traffic may be the most popular bet.
 
Tuna sandwich — but hold the tuna: Lawsuit discovers that Subway’s tuna sandwich does not contain any tuna?
 
AI mattress: Bryte has released an AI-powered mattress with over 100 self-adjusting springs for a better sleeping experience.

Read More

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