May 3, 2021

Retail Traffic Trends #24 – Big things are coming to Doorcounts

On top of keeping you up to date on retail trends, this week we give a sneak-peek into big changes coming to Doorcounts later this week.

WHAT’S IN STORE THIS WEEK?

  • Digital trends: blip or permanent shift?
  • How 5G will change retail checkout
  • Retail friendly uses for artificial intelligence
  • Introducing Doorcounts 3.0’s redesigned interface

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:

The Executive View

Imagine getting a daily overview of your foot traffic as it’s happening.

The Executive View is intended for managers to see a quick report of all the opportunities and sales made for each store. While the tab looks similar to the up-board, instead of showing photos of customers, it displays the breakdown of the sales vs opportunities.

FOOT TRAFFIC TRENDS

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

Big changes are coming to Doorcounts

Later this week we will be releasing our biggest update to Doorcounts yet.

A brand new user interface will make it easier than ever to track the data that matters most to your company.

Salespeople in a rush for time? You will be gathering and analyzing key performance metrics in as little as 3 clicks.

New features, such as personalized dashboards and home screens, are built around your company to help Doorcounts feel like an extension of your stores.

The update will go live later this week.

Blip or permanent shift?

As more of the population becomes vaccinated and stores begin to fully open up again, a major question looms. is the digital shift a blip or a permanent change?
 
With so many new digital trends emerging and the hand being forced for many retailers to become a hybrid store, it’s hard to decide if you should go all in or hope for things to return to normal.
 
Although we don’t have an answer, we do know the pandemic sped up the inevitable.
 
It is no surprise that e-commerce is as prominent as is and that it would most likely still get to the same levels of sales without the pandemic. – The pandemic simply sped up its growth by about 30 years.
 
In 2019, e-commerce sales accounted for 11.4% of US retail sales. In Q2 of 2020, in the peak of lockdowns, e-commerce jumped to 16% of US retail sales.
 
Although we might have expected to see a bigger jump, it’s worth noting that in the last few years, e-commerce only increased by around 1% each year.
 
Regardless if these new trends stay or go, it’s worth keeping your eyes on trends potentially used by your competition.

How 5G will change retail

Of the many trends that emerged over the last year in retail, technology has played a major role in a majority of the changes.
 
As we’ve said in the past, mobile payment methods and zero-contact payment are becoming a feature that customers are coming to expect in physical stores.
 
Thanks to the bandwidth and low latency of 5G, 5G will speed up the checkout process and reduce the risk of fraud.
 
Biometric scanners that are built into phones plus the speed of 5G results in the safest and fasted form of payment.

Is AI retail-friendly?

 implementing artificial intelligence is a big leap to make for retailers who are just starting to implement new technology. However, the ever-changing retail environment makes AI more valuable than ever.
 
Artificial intelligence is constantly learning and evolving with its environment, which is crucial in a time where retail trends and restrictions are changing each week.
 
But the real question is, where does AI have a place in retail?
 
One of AI’s biggest use cases in retail is something you see every day online: shopping suggestions.
 
“customers who bought this may also be interested in this.” This feature, also known as shopping basket analysis, uses AI to find items that previous customers also purchased when purchasing certain items.
 
This is just the tip of the iceberg when it comes to AI analysis. Artificial intelligence can personalize the shopping experience by comparing demographic data, click paths, marketing that resulted in a click, and much more.

NOTEWORTHY NEWS

Connected customer: How to understand and embrace the connected customer.
 
Patching Leaks: Simple ways to keep customers from leaving you for thecompetition.
 
Less is more: Learn how less is more in the new world of physical retail.
 
Retail stocks: Retail stocks to keep your eyes on in the coming weeks.

RANDOM IRRELEVANCE

Printed house: The world’s first 3D printed house has been built.
 
No chip no car: A single computer chip has halted the production of cars from multiple manufacturers.
 
Blue Origin: You can now buy a trip to the edge of space in the Blue Origin rocket.
 
Fresh kicks: Shoes worn by Kanye West in the 2008 Grammy becomes the most expensive shoe ever sold at auction.

Read More

April 30, 2021

The Doorcounts Dance

This week on Dos Marcos, the Mattress Man from Sweet Dreams Furniture and Mattress explains how energy attracts foot traffic.

Each day when his team walks into the store, they hit a Doorcounts dance.

Since Doorcounts takes photos automatically when you walk in, all it takes is some dance moves in front of the camera to energize the team.

As said best by Dos Marcos, If you are having fun, you’ve already won.

Transcript

Doorcounts, I mean is the ultimate Retail Sales Cloud solution. But I mean, it’s, it’s this magical way for you to capture what’s happening in your store and make meaning of it. And that’s the thing about it, you can get all this data, but you got to make meaning of it, and you got to hopefully use it for fun. So yeah, Doorcounts as snapping a photo of somebody assigning them to a salesperson on an artboard. It’s a contact management solution CRM, and all of that stuff. But you gotta you I think you need to use it like, Matt man uses it.

So Andrew, this lesser, he’s, you know, he’s got his own podcast on the fam. And what he decided to do is, is think about it like this energy attracts foot traffic.  

Every day when he walks in his store, Sweet dreams Furniture and Mattress,  he uses the Doorcounts camera because it’s automatic. And so striking a pose and we have all these up on one of our on the episode with him on fam.news.

 It’s just such a cool creative way to take something that’s like a process, a kind of a technology tool. Then turn it into fun. The more you’re having fun, you’ve already won.

And we think you can have fun with Doorcounts and the Doorcounts team and actually make more money. You can prove to yourself with a 90-day free trial that you’re going to make more money. So go to Doorcount.com. Get a 90-day free trial, and if you don’t want to use Doorcounts at the end of it. Jerry’s going to peel off 150 bucks hand it to you and say thank you. And if you have any feedback, we’d love to hear it so there’s no risk whatsoever. 

Read More

April 26, 2021

Retail Traffic Trends #23 – Social Interaction is in high demand

Social interaction.  
 
I miss it, you miss it, and customers miss it.
 
It’s almost as if we are in a parallel universe where customers are begging to talk to a salesperson.
 
Now is the time to connect with customers and capitalize on the customer experience.

WHAT’S IN STORE THIS WEEK?

  • A look into how retail is going green
  • The coexistence of physical and mobile showrooms
  • Going back to the basics of the customer experience
  • 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:

Product Category

Do you know what sells and what doesn’t in your store?
 
Using the Product Category feature you can see which categories result in more sales, no sales, or potential sales.
 
Choosing different periods lets you see what sells better at different times of the week or year.

FOOT TRAFFIC TRENDS

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

Retail goes green

With Earth Day in the rearview mirror, sustainability and giving back to nature are on top of many minds.  
 
In recent years, more and more retailers are making their workforce more sustainable from manufacturing to the storefront.
 
Recently, furniture startup Floyd Furniture received $15 million Series B funding to expand its sustainability efforts.
 
And as it turns out, consumers are willing to pay more for green products.
 
A 2020 study found that nearly 70% of people in the US and Canada believe it is important to buy green products.

Mobile showroom

As we’ve seen a shift in retail with more and more becoming digital, some digital trends can give physical stores an upper hand.
 
Technology such as augmented reality allows consumers to see your product in their own home, without the product physically being there.

American Furniture Warehouse has recently rolled out their virtual room planner, a 3d technology created by Marxent.
 
Thankfully, a physical and digital showroom can coexist.
 
A showroom lets people see how the product looks and feels in person, while a virtual showroom allows them to see how the furniture or mattress will look in their house.

A hybrid future

Adobe recently released their yearly Retail Trends Report that details the changes in consumer behaviors and retail as a whole.
 
One of the major findings was retail’s shift to a hybrid-store approach.
 
Although physical stores are still key to business, physical stores are now made to meet the need of both physical and online customers.
 
The survey found that 75% of retailers say that they have personalized their physical store experiences based on online behaviors.
 
Of that 75%, 39% believe personalization is important, and 36% believe it is critically important to meet customer expectations.
 
All in all, physical stores are alive and well with the help of a few digital alterations.

Back to basics

Although it’s always good to keep an eye on emerging digital trends, you can never go wrong with going back to the basics: providing a great customer experience.
 
After everyone has been isolated for so long, people are willing to take any social interaction they can get.
 
A survey of over 9,000 retailers found that greeting a customer with a personal messagerather than “how can help you” is one of the easiest ways to differentiate your customer experience from the start.
 
It’s a rare occasion that customers are looking to talk with a salesperson regardless if they have a question.  Now is the time to let your social butterfly out and connect with customers.

NOTEWORTHY NEWS

Digitalization: A look into how digitalizing your demand chain improves efficiency.
 
Sustainable returns: With over $428 billion in returns last year, it’s time to make returns more sustainable.
 
Spring shoppers: Prepare your store for the upcoming wave of spring shoppers.
 
An open letter: An open letter to customers frustrated over long wait times.

RANDOM IRRELEVANCE

Pure white: Engineers have created the world’s whitest paint, which reflects 98% of light.
 
Oxygen on Mars: The Perseverance rover has made oxygen on Mars.
 
Costco: How the Costco $1.50 Hot dog emerged as the star of Pandemic deals.
 
Mothers Day: Get ahead of Mothers Day with 23 Mothers Day gift ideas that won’t break the bank.

Read More

April 20, 2021

Dr. V talks Doorcounts

This week on the FAM, Dr. V of Miskelly talks about why his team loves using Doorcounts.

Dr. V explains, “If we can track it, we can improve it.” 

Dr. V Transcription

Well, years ago, I read a book by john Lowe Han. And I love the way and one of his big tag lines was you can improve it unless you can measure. And that in and of itself is just such a great concept.

Now it’s obvious, but you need to have the benchmark. So one of the reasons why we chose to go with door counts was to get a really good accurate measurement of our foot traffic when they come in.

So that was the big thing initially with we found it to be so much greater value than that, because our salespeople use it to be able to capture the information for our guests.

When they come through the doors. We actually get a photograph of them, it comes right up on Doorcounts.

We know exactly which salesperson is going to be assigned to which guests when they come in, you know one of the biggest complaints you sometimes get as a guest that goes, You know, I came into your store, I walked around for 30 minutes and no one ever approached me.

Well, we don’t deal with that anymore.

Because with Doorcounts, we’re able to capture their picture comes right up on the laptop, we know which salesperson has been assigned to who, therefore we don’t lose them. In that sense, we’re also able to capture their information.

We’re also able to email them back if we know we got a particular promotion coming up it tracks or close ratio.

Once again, if we can track it, we can improve it.

Read More

April 19, 2021

Retail Traffic Trends #22: Data Unification

We are now wrapped up on our 15th week of 2021.
 
Although things are still a little weird in the world, we are slowly seeing a shift to the new normal for retail.

WHAT’S IN STORE THIS WEEK?

  • The importance of data selection and unification
  • March’s record-breaking month for 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:

Sales Conversion

Imagine being able to know exactly where your sales are being converted.

With the Sales Conversion tab, you can see which store, salesperson, or even what time of the day converts the most sales.
 
And to track sales conversion, it only takes one click from your salesperson.

To take a deep dive into a specific store, simply click the store name on the graph and it will show the sales conversion for all of the employees in that store. To take things even further, you can click an individual salesperson and see their sales conversion for each day in the selected period.

By clicking the Salesperson rank button, you will be able to see the ranking of your salespeople by sales conversion.

FOOT TRAFFIC TRENDS

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

Data selection and unification

The combination of the online revolution and the ever-changing retail landscape has made retail analytics more important than ever.
 
A major part of retail analytics is customer experience analytics.
 
A recent study found that 80% of retailers now use data analytics to set their user experience apart from the competition.
 
Do you know what drives more people to your store? Is it your radio ads or is it from your email marketing?
 
Without tracking KPIs and the effectiveness of your campaign, it is impossible to maximize the foot traffic in your store.

Marching on

After a 3% drop in February, retail sales saw a 9% increase in March.
 
The increase, which saw a major boost from another round of stimulus checks, had a major impact on the stock market.
 
As of last Thursday, the DOW hit 34,000 for the first time in history.  This comes just a month after the DOW hit 33,000 in March.
 
Hopes are high that we do not see a similar drop in April as we saw in February, the month after the stimulus checks were released.

A new look

For a while now, advertisers have worked on selling the experience rather than the product.
 
Now, retailers are trying to do the same thing.
 
Instead of simply showcasing the furniture or products, retailers are showcasing the brand experience beyond the website.
 
This shift comes to bring more foot traffic into stores with a new type of retail experience.
 
The LA Platform, a new shopping destination in Las Angeles, has taken a new approach to brick and mortar by combining elements of digital and physical.
 
While the platform has physical stores, it also includes a drive-through for customers to have a contactless pick-up option.

Payment methods

As we’ve said in the past, alternate payment methods such as BUY NOW PAY LATER have turned into promotions that are bringing customers into physical stores again.
 
If the pandemic has taught us anything, it’s that the most minute changes can make a big difference on foot traffic.
 
And once people are in your store, flexible payment options can make the difference between a sale and no sale.
 
A recent study found that 57% of people say digital payment options would impact their shopping decisions.
 
Many retailers have been broadening their payment options to include new payment methods such as Apple Pay and Klarna.
 
Klarna, which allows for flexible payment plans for customers, now has over 250,000 retail partners around the world.
 
At the end of the day, simplicity is becoming the key to the consumer experience.

NOTEWORTHY NEWS

Retail hackers: As more retail goes online, hackers are finding sophisticated ways to steal data.
 
Brick to click: The history of retail from mom and pops to online.
 
Suburb takeover: As suburban populations continue to expand, retailers struggle to find ideal store locations
 
Ai simplified: How to use minimal input to get the most out of augmented reality.

RANDOM IRRELEVANCE

Dogecoin: Dogecoin, a cryptocurrency, breaks trading platforms as its popularity surges.
 
UFO season: The pentagon confirms yet another UFO sighting this year.
 
Emergency landing: A WWII-era plane makes an emergency landing near a crowded Florida beach.
 
Climate change: Google Earth’s new time-lapse feature shows the effects of climate change

Read More

April 13, 2021

Retail Traffic Trends #21: Q1 data reveals a surprising trend

Just like that, Q1 has come and gone.
 
This week we take a deep dive into the highs and lows of Q1 and the growing adaptation of technology in retail.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • The furniture industry’s booming Q1 metrics
  • How an increase in foot traffic has affected the mattress industry
  • Retailer’s increasing adaptation of cloud-based business.
  • 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:

Scheduled Action Tab
 

On most days, salespeople spend most of their time waiting for the next shopper, rather than working with the next shopper.

Why not give them a one-click option to follow up with shoppers who’ve already visited and need another contact?

The Scheduled Actions feature allows salespeople to see which customers they need to follow up with and allows them to reach out directly through Doorcounts.

FOOT TRAFFIC TRENDS

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

Q1 furniture key metrics

Despite the growing need for inventory in the furniture industry, nearly all metrics are in the green as the furniture industry sees major improvements from Q1 last year.

A bittersweet moment occurred in Q1: people have returned to browsing stores and leisurely shopping. Although this means they may not have bought, it is a good sign for retailers to see shoppers’ comfort levels slowly return to normal.

Although February saw a slight drop in foot traffic compared to last year, foot traffic in Q1 has shown major strides towards normal.

Conversion rate down 1%: Similar to March 2021, the conversion rate is the one metric that struggles to reach a similar number as last year.  Compared to Q1 last year, the conversion rate only saw a .09% decrease.

Average Ticket up 14%: Average ticket in Q1 sees a 13.6% increase year over year with February 2021 having the highest average ticket of $20,094.

Daily Revenue up 21%: Q1 had its two-year low for daily revenue of  $7,639 in March 2020 and had its high of $17,940 in January 2021. 

Daily Opportunities up 12%: After a year of record lows for foot traffic, Q1 of 2021  saw customers return to stores in numbers.  Although Q1 of 2020 was just before the pandemic caught wind, foot traffic still saw a 12% increase since Q1 of 2020.

New Prospects up 67%: New prospects = people who left the store without buying.  New prospects increasing means fewer people are buying, and if it goes down, it means more people leave the store with a purchase. Although 67% more people left the store without buying, it’s good news to hear people are going shopping just to look around.

Q1 mattress key metrics

Q1 was good to the mattress industry with every metric seeing an increase over Q1 2020.
 
Aside from January seeing a higher than average sales conversion with the second round of stimulus checks being released, March steals the show for Q1 over the last two years.
 
Each month throughout Q1 we see growth and a positive trend for every metric in the furniture industry.

Conversion rate up 2%: While the furniture industry saw a slight decrease in conversion rate, the mattress industry increased its conversion rate by 2% since Q1 2020.

Average Ticket up 15%: Not only are salespeople converting more sales, but they are also selling more with each sale.  The conversion rate increased 15% since Q1 2020 with a high of 61.45% in January 2021.

Daily Revenue up 38%: Aside from a drop in March, Q1 2020 was a relatively normal quarter.  With that in mind, a 38% increase in Q1 of 2021 is quite a feat.  Q1 saw a low of $1,109 in March 2020 and a high of $3,132 in March 2021.

Daily Opportunities up 10%: Daily opportunities, or foot traffic, went through quite the year. Thankfully, Q1 shows a positive trend in 2021 with a 10% increase in foot traffic.

New Prospects up 161%: As we’ve said, new prospects are customers who left the store without buying.  Since Q1 of 2020, 160% more people have left mattress stores without buying.  As crazy as that sounds, new prospects just increased from around 1 to 3 customers.

NOTEWORTHY NEWS

Furniture Q&A: Retailers explain their market strategy for 2021.
 
Adaptive Modeling: How adaptive modeling helps retailers understand their customers.
 
Retail in the clouds: More and more retailers are now relying on the cloud to ensure safe and consistent customer experiences.
 
Women in retail: How the pandemic has continued to affect women in the retail industry.

RANDOM IRRELEVANCE

Mario kart: Environmental experts says the Nintendo racing game has important lessons for social and economic programs.
 
Yahoo answers: Yahoo answers is being turned off for good. Here are the best questions ever asked.
 
Jurrasic park: Elon Musk’s business partner says a real-life version of “Jurassic Park” could “probably” happen but only if the tech whizzes “wanted to.”
 
On the loose: 20-25 monkeys escape during a construction project at a German zoo.

Read More

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.

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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.

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