Retail Traffic Trends #89: July Metrics are in!

As we head into the second half of Q3, it’s once again time to see what it takes to become a top-performing store.

 

Despite this July having less foot traffic than last year, both the furniture and mattress industry saw significant increases in their average ticket in June 2022.

 

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

THIS WEEK’S HIGHLIGHTS

  • July in the furniture industry: Changes in traffic and increases in the average ticket.
  • July in the mattress industry: How the mattress industry increased conversion rate by 16%.

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

July 2022: Furniture industry

July 2022: Mattress industry

Retail Snippets

The great unrest: How 2020 changed the economy in ways we can’t understand yet.

 

Fallen unicorns: 9 retailers that have recoiled from sky-high valuations.

 

Discount trend: Uniqlo owner Fast Retailing to open first GU discount clothing store in U.S.

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Chestnut: Reflecting on Serena Williams’ career and legacy as she retires from tennis.

 

The sturgeon supermoon The next supermoon – the last of the year – will rise on Thursday night

 

Must See: Celebrating the power of wildlife photography.

Read More

Retail Traffic Trends #88: State of Retail Mid-2022

As we head into the second half of the year, researchers and analysts are fast at work predicting what we should expect to see in the second half of the year.

 

Retail sales are now forecast to grow between 6% and 8% to more than $4.86 trillion by the end of 2022. This figure compares with the 14% annual growth rate from last year, which had the highest growth rate in more than 20 years.

 

This week we uncover the trends that we expect to see take light in the second half of the year.

THIS WEEK’S HIGHLIGHTS

  • The rise, fall and rise again: How malls have made a historic recovery.
  • State of the State Mid-2022: Everything you need to know heading into the second half of the year.
  • Q1 Benchmark Report: Click HERE to download the report.

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

Malls continue to gain occupancy

Malls in the United States are slowly reaching full capacity after years of lackluster foot traffic.

 

Simon Property Group reported an occupancy rate at its U.S. malls and outlet centers of 93.9% as of June 30, up from 91.8% a year earlier. Although US malls saw 1,954 store closings this year, retailers in the U.S. have announced 4,432 new store openings.

 

Last year, the retail industry finished the year with a net addition of 68 stores. Even with all of the closures, this year has seen a net of 2,478 openings.

 

Click HERE to learn more about the current state of US malls.

State of the State Mid-2022

As we head into the second half of 2022, TalkBusiness has released their State of the State Mid-2022 report on the retail industry.

 

As we’d all expect, continued supply chain delays, escalating prices, labor shortages, and the threat of a recession are among the top concerns, according to market watchers.

 

On the bright side,  retail sales are now forecast to grow between 6% and 8% to more than $4.86 trillion by the end of 2022. This figure compares with the 14% annual growth rate from last year, which had the highest growth rate in more than 20 years.

 

As for physical store trends, Salesforce says that  60% of digital orders are now influenced by the physical store. By no surprise, in-store experiences continue to have a major impact on where consumers decide to buy, whether that be online or in-store.

 

Click HERE to read the full Mid-Year report.

Retail Snippets

Report: Self-scanning stores are expected to triple by 2027.

 

Same-day: Amazon launches same-day delivery from some brick-and-mortar retail brands.

 

Back to basics: Connected technology is once again the key to retail industry success.

RANDOM IRRELEVANCE

Treasure hunt: Earth is spinning faster than usual and had its shortest day ever.

 

Sugar shortage: Hershey says it won’t be able to meet Halloween demand this year.

 

Payday: Tonga eruption blasted enough water to fill 58,000 Olympic pools into the Earth’s atmosphere

Read More

Retail Traffic Trends #87: Change is coming to the retail industry

From predominately digital stores going physical to physical stores going digital, it has become increasingly hard to predict where the industry is headed.

 

After 7 years, Amazon is officially closing all of its book stores, switching its focus to its physical grocery stores. And as that happens, physical grocers are going digital to embrace the online grocery shopping trend.

 

This week we uncover the shifts we are seeing major retailers take over the past few months.

THIS WEEK’S HIGHLIGHTS

  • Amazons Brick and Mortar fall: The journey from digital, to physical, and back to digital.
  • Doorcounts integration: Doorcounts announces integration with PerformNOW

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

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

Amazon exits physical retail

Despite shoppers returning to physical stores, Amazon has decided to close all of its bookstores, 4-star stores, and pop-ups.

 

Amazon will continue to expand its grocery stores but is abandoning its roots of selling books in a physical store. Aside from Whole Foods, including locations opening this month, the company runs 85 grocery-oriented stores: 58 Amazon Fresh in the U.S. and U.K. and 27 Amazon Go convenience stores.

 

In Q1 of this year, Amazon saw a 3% decline in its online retail sales, yet its physical stores saw a dramatic increase year over year.

 

So why close all their stores? Amazon’s business is centered around logistics, technology, advertising, and as of late, less and less retail.

 

Click HERE to learn more.

Doorcounts announces integration with PerformNOW

We are pleased to announce our integration with PerformNOW, the largest retail home furnishing industry performance group.

 

This technology automatically reads all Doorcounts’ traffic analytics and sales data and integrates it into PerformNOW’s CRM platform. Fast mobile-enabled metrics, automation of follow-ups via email or text, task assignment, and visual pipeline tracking enable businesses to focus on converting more leads and increasing average sale.

 

One common user, Gardner Malouf, of Malouf Furniture, says, “PerformNOW and Doorcounts are indispensable in our business. Doorcounts is our traffic counter, our up system, and used for sales analytics. It integrates with PerformNOW, which we use for website tracking, sales follow-up automation, open order follow-up, delivery communications, service ticketing, and re-marketing. Integrated technology is critical in managing the customer experience and getting ahead of the competition.”

 

Click HERE to learn more.

Retail Snippets

The return: Retail grocers go digital to embrace the online grocery shopping trend.

 

Not Just Data: Why General Mills launched its first Consumer Loyalty Program.

 

Back to School: Tips, trends, and predictions for what lies ahead.

RANDOM IRRELEVANCE

Treasure hunt: Centuries-old shipwreck thought to have inspired ‘The Goonies’ has been discovered off the Oregon coast.

 

Long Live: The Choco Taco is dead, but it will never be forgotten.

 

Payday: Mega Millions jackpot tops $1 billion after no one won $830 million grand prize.

Read More

Retail Traffic Trends #86: 🚨 Retail predictions are in 🚨

Over the last few years, foot traffic and retail trends have been changing rapidly from week to week.

 

After a nearly 2-year period of people working from home, downtowns are slowly starting to reach pre-pandemic levels of foot traffic, and analysts predict to see new waves of consumers beginning their holiday shopping earlier than ever this year.

 

From downtown trends to holiday shopping patterns, this week is all about predictions for the future of the retail industry.

THIS WEEK’S HIGHLIGHTS

  • Downtown revival: Cities and the rise to normality.
  • Holiday shopping predictions: Why consumers are shopping earlier than ever this year.

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

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

Predictions for the 2022 Holiday Shopping Season

As the heat waves continue to hit across the country, analysts are hard at work predicting how consumers will shop during the winter holidays.

 

A recent report by PracticalEcomerce predicts that inflation will reach 6% worldwide by Christmas this year. And with that, analysts are predicting that holiday sales will increase less than inflation this year.

 

Similar to last year’s predictions, consumers are expected to start their holiday shopping even earlier this year. With increased prices, nearly everyone will be looking to snag deals as soon as they see them, whether that be 1 week or 3 months before Christmas.

 

Click HERE to read more about predictions for the holiday season.

Downtown foot traffic on the rise

After a nearly 2-year period of people working from home, downtowns are slowly starting to reach pre-pandemic levels of foot traffic.

 

With many companies switching to a full-time office or hybrid work schedules, the gap from 2019 has now narrowed by nearly a half from January 2022 when traffic was -42.9% below the 2019 level. For June, it was -26.3% below 2019 from -27.8% in May.

 

Despite traffic still being down compared to 2019, the positive trend gives up hope for the months to come for retail stores located in urban areas. As I think we can all relate, the newly revived energy in downtown areas is a much-needed change-up.

 

Click HERE to learn more about downtown foot traffic trends.

Retail Snippets

The return: Toys R Us looking to make brick and mortar retail comeback in time for the holidays.

 

Uncertain numbers: Confused about sell-by dates? you are not alone.

 

Returning customers: cautious shoppers pay more but get less.

RANDOM IRRELEVANCE

First look: Quidditch rebrands as Quadball and further distances itself from Harry Potter.

 

Long awaited: NASA sets launch dates for its return to the moon.

 

Thursday light show: Google pulls malware-infected apps in its Store, with over 3 million users at risk.

Read More

Retail Traffic Trends #85: Biometrics and the world of personalization

Similar to how sound can anchor retail spaces, so can color.


By taking the time to choose the right colors for the right areas of your store, you can personalize the shopping experience for people in your store without them even knowing how.


This week we look at how color can impact the customer experience and take a look at how biometric data is making its mark in retail.

THIS WEEK’S HIGHLIGHTS

  • Biometrics meet retail: The Minority Report is slowly becoming a reality.
  • Color in brick-and-mortar: How color can impact the customer experience.

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

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

Color and its effect on retail

Not all things are black and white. What some people may see as blue, others will see as purple. While some people may feel euphoric when they see a certain color such as baby blue, others may have the exact opposite emotion evoked from that same color.

 

Research shows that personal preferences, experiences, upbringings, cultural differences, and context all play a contributing role in our brains’ interpretation of color.

 

Similar to how sound can anchor retail spaces, so can color. Due to its primal function, color allows our brain to quickly connect basic constructs of our environment such as shape, distance, and temperature.

 

By taking the time to choose the right colors for the right areas of your store, you can personalize the shopping experience for people in your store without them even knowing how.

 

Click HERE to learn more about the importance of color in retail.

Biometrics enter the retail landscape

In 2002, the movie Minority Report was released and showed the world how terrifying the world could become if biometrics could tell advertisers exactly what you want.

 

20 years later, the premise of the movie is slowly becoming a reality. About two-thirds of marketing professionals said they expected to see greater use of biometric data to access, personalize or secure data and services by the end of this decade, according to a survey by WPP’s Essence.

 

Although biometrics are far from the level we saw on Minority Report, the more immediate marketing applications for biometrics are likely to focus on letting consumers protect their personal information.

 

As said by Mark Viden, senior vice president of brand at nonprofit hospital chain CommonSpirit Health, “Making the decision to tap such personal data fast-tracks an intimate relationship between a brand and consumers,”.

 

Click HERE to learn more about the future of biometrics in retail.

Retail Snippets

The steady rise: 3 things retailers can do to thrive in a tough economic environment.

 

Sustainable returns: Are sustainable returnspossible in the mattress industry?

 

Returning customers: The average Amazon Prime member spends this much per year.

RANDOM IRRELEVANCE

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Long awaited: YouTube begins rolling out picture-in-picture on iPhones and iPads

 

Thursday light show: How to see a huge passing comet at its closest point to Earth.

Read More

Retail Traffic Trends #84: June Metrics are in!

As we start Q3, let us take a moment to see what it takes to become a top-performing store.

 

Despite this June having less foot traffic than last year, both the furniture and mattress industry saw significant increases to their average ticket in June 2022.

 

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

THIS WEEK’S HIGHLIGHTS

  • June in the furniture industry: The highs and lows for the furniture industry to end Q2.
  • June in the mattress industry: How the mattress industry increased average ticket by 16%
  • Q1 Benchmark Report: Click HERE to download the report.

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

June 2022: Furniture industry

June 2022: Mattress industry

Retail Snippets

Mission-Ship Retail Stores: Innovative store designs and experiential elements.

 

Retail hacks: The top 10 trends driving retail growth.

 

Report: Virtual world shopping is not the metaverse.

RANDOM IRRELEVANCE

Chestnut: Joey Chestnut eats 63 hot dogs as he wins his 15th Nathan’s July 4 Eating Contest.

 

New rules: Airbnb makes its gathering / partying ban permanent.

 

Must See: NASA makes contact with satellite that broke free of Earth’s orbit.

Read More

Retail Traffic Trends #83: The End of Third-Party Data

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

 

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

 

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

THIS WEEK’S HIGHLIGHTS

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

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

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

First-Party data

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

 

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

 

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

 

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

 

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

Augmented reality’s reaches forefront

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

 

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

 

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

 

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

 

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

Retail Snippets

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

 

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

 

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

RANDOM IRRELEVANCE

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

 

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

 

New craters: whose rocket just hit the moon?

Read More

Retail Traffic Trends #82: Augmented Reality’s impact on returns

Over the 82 weeks of us discussing retail trends, both augmented reality and AI has gone from far-fetched ideas to viable tools for retailers.

 

Not only does AR allow shoppers to feel more confident in their purchases, but it has also proven to reduce returns.

 

This week is all about new technologies that are giving retailers the ability to track more than we have ever imagined.

THIS WEEK’S HIGHLIGHTS

  • Returns vs Augmented Reality: How augmented reality is helping reduce returns.
  • AI video analytics: The benefits of video analytics in retail.

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

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

AI video analytics energizes retail

With many shoppers choosing online over physical stores, it is imperative to track everything that happens in your store.

 

New capabilities within artificial intelligence give retailers the ability to track more than we have ever imagined.

 

AI video analytics is computer-vision powered by machine learning algorithms. AI video analytics can monitor and analyze visual data from cameras to improve business processes.

 

For retailers, this could give shoppers more personalized experiences, provide information to improve stocking levels, streamline floor plans into more efficient traffic patterns, improve inventory management, and much more.

 

Click HERE to learn more about Doorcounts’ plans for AI or click HERE to learn more about the capabilities of AI in retail.

Augmented reality’s impact on returns

As we’ve touched on in the past, more and more stores have begun using augmented reality (AR) to create virtual showrooms for their products. For big-ticket retailers, this was finally a way for shoppers to see the furniture or mattresses in their own space before purchasing.

 

According to an Alter Agents survey, Eighty-percent of survey respondents said they feel more confident in their purchases when using augmented reality tools. Not only does AR allow shoppers to feel more confident in their purchases, but it also reduces returns.

 

Although AR has proven to have a slower adoption rate for older generations, 92% of Gen Z shoppers already prefer AR reality tools for e-commerce.

 

Click HERE to learn more about DTC subscriptions.

Retail Snippets

Changing tides: Starbucks’ theme for three Seattle stores? Past, present, future.

 

Crate robbery: Ocean freight carriers made more money in 2021 than in the past 20 years combined.

 

Holiday sales: Lego makes plans to open its first US factory.

RANDOM IRRELEVANCE

Jack-and-Coke in a can: Coca-Cola and Brown-Forman team up for a new drink.

 

New digs: How fashion can swap Leather With Mushrooms.

 

NASA Voyager Probes: 18 best pictures as the 45-year journey nears an end.

Read More

Retail Traffic Trends #81: Industry Highs and lows

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


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


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

THIS WEEK’S HIGHLIGHTS

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

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

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

Auto weighs down retail

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

 

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

 

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

 

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

 

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

DTC subscriptions on the rise

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

 

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

 

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

 

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

 

Click HERE to learn more about DTC subscriptions.

Retail Snippets

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

 

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

 

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

RANDOM IRRELEVANCE

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

 

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

 

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

Read More

Retail Traffic Trends #80: May Retail Metrics

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

 

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

 

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

THIS WEEK’S HIGHLIGHTS

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

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

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

May 2022: Furniture industry

May 2022: Mattress industry

Retail Snippets

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

 

Retail hacks: The top 10 trends driving retail growth.

 

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

RANDOM IRRELEVANCE

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

 

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

 

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

Read More

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