September 27, 2021

Retail Traffic Trends #45: The secret sauce to increasing conversion rate

Everyone is always looking for the secret formula to increase conversion and average tickets.

Whether it be changing the consumer experience or how we sell to customers, retailers are constantly experimenting with new ways to get more out of each customer who walks through your door.

This week we take a deep dive into how solutions like Buy Now Pay Later and new retail experiences, such as retail on wheels, can increase conversion rates by 20-30%.

THIS WEEK’S HIGHLIGHTS

  • How Buy Now Pay later increases average ticket and conversion rates.
  • A look into how doctors and sleep.com are helping Mattress Firm educate its customers.
  • A new type of showroom that brings the product directly to the door of customers.

FOOT TRAFFIC INDEX

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

FOOT TRAFFIC TRENDS

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

Holiday 2021 predictions

In the past, it was common for shoppers to use layaway plans to get ahead of the holiday season and pay for the goods over time. Now, layaway plans are disappearing as Buy Now Pay Later takes over the charge.

Many retailers have begun to embrace the option for customers to pay later by utilizing companies such as Affirm, Afterpay, and Klarna.

Researchers have found that Buy Now Pay Later options can increase conversion rates by 20-30%. As it turns out, it makes the buying decision significantly easier when you don’t have to pay right away.

Not only do options like Affirm and Klarna increase conversion rate, but researchers find that it can also increase the average ticket by 30-50%.

Paying later gives customers the convenience of planning their budget and also increases trust between customers and retailers, as customers feel as if you are giving them the extra hand they need during the holiday season.

Retail on wheels

Retail has changed a lot in the last year, and retailers are still finding ways to rethink the wheel. For Santa, they have rethought the wheel by putting retail on wheels.

Santa, a new retail concept, was created by veteran tech startup founders who recruited experienced store executives for their pandemic-inspired idea. “Santa is an attempt to create a new kind of physical store that moves around and is backed by logistics and technology,” stated Roee Adler, co-founder, and CEO of Santa.

After researching 1,400 markets, Santa has chosen Collin County as the first stop on their journey. Customers will be notified by the Santa app that the truck is in their neighborhood. 

Similar to virtual showrooms, customers will be able to try an assortment of products from their own homes.  There’s no better way to find if a product is for you than to see it in action in the comfort of their homes.

Although this type of concept is easier said than done for large-ticket retailers, an alteration of retail on wheels could be a game-changer for customers deciding on a new couch, bed, or appliance.

Sleep team

Over time, marketers and retailers alike have discovered that selling the lifestyle or benefits of a product yields better results than simply reading off the features of the product.

Over the last few months, Mattress Firm has released Sleep.com, a resource for customers to learn more about their sleep and feel better.

In addition to Sleep.com, Mattress firm has announced their sleep team. The team will share insights and analytics about how people can get the most out of their sleep. This not only gives customers a useful resource to help live a healthier life but also gives customers the confidence they need to make a purchase.

The sleep team includes doctors, sleep advisors, and researchers who have devoted their careers to guiding people to get better sleep.

Giving away useful information is a win-win. It informs your customers to make an educated purchase and increases trust between retailer and customer.

THE FAM

The million dollar question

Put yourself in front of the judges on the hit ABC show, Shark Tank. Mr. Wonderful, also known as Kevin O’Leary, offers you the million dollar investment you are asking for if you can answer the following question: “What is the #1 skill needed to be successful in mattress sales?”


Do you know the answer? 

LISTEN TO THE PODCAST HERE.

NOTEWORTHY NEWS

Re-sale furniture: How the furniture resale industry will grow 3.5 times faster than traditional retail by 2025.

Shape-shifting: shapeshifting furniture, ‘Niche’ aims to prove people can still live large in a smaller footprint.

Artificial intelligence: How AI is changing retail marketingand how retailers plan for future demand.

Retail convergence: What the merging of retail and digital media means for your brand.

RANDOM IRRELEVANCE

Birdseye view: New NASA satellite to continue half a century of changing Earth observations.

Video: A massive fireball soaring over North Carolina at 32,000 mph caught on video.

Robots in charge: How robots are automating workflowsacross the retail enterprise.

Recipe: The best recipe for Ted Lasso’s ‘Biscuits with the Boss’ Shortbread. WARNING: extremely hard to stop eating.

Read More

September 20, 2021

Retail Traffic Trends #44: Holiday season predictions

With Q4 right around the corner, it’s time to quickly look into the pass to gather predictions for the 2021 holiday season.

Analysts were pessimistic going into the 2020 holiday season and were quickly proved wrong when holiday sales were up 5.8% compared to 2019 sales.

This year, with foot traffic increasing and retailers adapting to omnichannel, researchers are very optimistic about the 2021 holiday season.

WHAT ELSE IS IN STORE THIS WEEK?

  • How the hot furnishing industry outperformed other retail industries in August.
  • A sneak peek of what to expect for the 2021 holiday season.
  • Get our upcoming research reports.
  • Dos Marcos … waiting on this week’s podcast

FOOT TRAFFIC INDEX

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

FOOT TRAFFIC TRENDS

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

Holiday 2021 predictions

As Q4 approaches, researchers are expecting a big surge in holiday sales compared to 2021.

Last year, holiday sales saw a 5.8% increase compared to 2019. This year, researchers expect they could rise 7% to 9%, according to the latest projections from Deloitte. 

The predicted increase is a result of increasing foot traffic as the year continues and retailers’ ability to adapt to omnichannel solutions.

Even with high hopes for the 2021 holiday season, shipping delays and supply-chain issues are still top of mind for many retailers. In addition to rate hikes, many overseas supplies are encountering trucking and crate shortages.

Black Friday: future and past

For all of retail, August 2021 saw a 15.1% increase to 618.6 billion compared to $537.7 billion in August 2020.

More surprisingly, home furnishing was the second strongest performer of all the retail industries. Compared to August 2020, the home furnishing industry saw a 15.6% increase with $12.5 billion in sales for the month.

And in all honesty, home furnishing deserves the award for best performer of the month. The only industry to outperform them was “nonstore” retail, which could still consist of home furnishing.

THE FAM

The million dollar question

Put yourself in front of the judges on the hit ABC show, Shark Tank. Mr. Wonderful, also known as Kevin O’Leary, offers you the million dollar investment you are asking for if you can answer the following question: “What is the #1 skill needed to be successful in mattress sales?”


Do you know the answer? 

LISTEN TO THE PODCAST HERE.

NOTEWORTHY NEWS

Inflation: How inflation is hitting the online prices of everything from apparel to furniture.

Holiday preparation: Big-box retailers start stockpiling inventory in a bet on strong holiday sales.

Reshaping Retail: A look at what the future holds for brick-and-mortar retailers.

IPO: Mattress Firm confidentially files IPO papers this week.

RANDOM IRRELEVANCE

Cold as night: How the whitest paint on Earth could eliminate the need for air conditioning.

Save the trees: Officials wrapped the world’s largest treein protective foil to guard it against California wildfires.

Autumn equinox: The first day of fall 2021 is just around the corner with Autumn equinox coming this week.

Video: SpaceX civilian crew returns to earth after a 3-day trip in space.

Read More

September 13, 2021

Retail Traffic Trends #43: Customers plan their return

The great retail migration is coming.

Customers are just as eager as retailers are to get back to shopping at brick-and-mortar stores. With 71% of shoppers already shopping in-store at least once a week, customers are starting to get their toes wet before fully diving into in-person shopping.

This week we take a look at predictions for future foot traffic and prepare for what to expect for Black Friday 2021.

WHAT ELSE IS IN STORE THIS WEEK?

  • Foot traffic analysis and predictions for the future.
  • The evolution of Black Friday and what to expect this year.
  • Get our upcoming research reports.
  • Dos Marcos on how Miskelly’s Secret to Success it PTF.

FOOT TRAFFIC INDEX

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

FOOT TRAFFIC TRENDS

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

Customers plan their return

Although we don’t know when the pandemic will end, we do know that consumers are ready at a moment’s notice to return to their brick-and-mortar shopping.

In a recent survey by MorningBrew, 71% of respondents say they shop in-store at least once a week, which is up 1% from when the same survey was done in March 2021.

Looking forward, 63% of shoppers say they will do most of their shopping in person a year from now.  

More importantly, 25% of respondents say they are now buying big-ticket items in person, and 66% say they will be a year from now.  As we all know, no one chooses to buy big-ticket items without seeing them in person.

The pandemic forced the hands of customers into buying big-ticket items online, but consumers are now starting to feel comfortable going back to shopping in person.

Black Friday: future and past

What started as a one-day sale has transformed into a month-long promotion and sales event.

Whether it was social restrictions that pushed this change or it was the natural progression of the holiday, the jam-packed lines and fights over popular items are becoming something of the past.

Now that deals have to compete with Cyber Monday the following week, Black Friday sales start early and last through Cyber Monday in hopes of winning the sale over the digital rival.

Despite the hype around Black Friday, Cyber Monday sales have exceeded Black Friday sales for the last 7 years.

Looking forward to Black Friday 2021, Retailers may be able to capitalize on people looking for the experience more than a good price. As we discussed earlier, customers are counting down the days until they can fully return to shopping in brick-and-mortar stores.

THE FAM

Miskelly’s Secret to Success is PTF.

In this week’s Dos Marcos Podcast, Mark and Quinn discuss Quinn’s visit to Miskelly’s Furniture–discussing how they rolled out the red carpet for his arrival and then discussing how our name ended up in lights.

They also overview the secret ingredients to their culture and how you can implement them little by little and create a lasting impact for both your employees and your customers.

LISTEN TO THE PODCAST HERE.

NOTEWORTHY NEWS

Report: Personalization and advanced analytics top list of retail initiatives for 2021.

Ask retailers: 7 simple yet effective strategies to sell morethan your competitors.

Stay sharp: An entrepreneur’s handbook to getting more done every day.

More for less: How to shorten your sales cycle and convert more leads.

RANDOM IRRELEVANCE

Climate change: A firm raises $15m to bring back woolly mammoth from extinction.

NASA: Mars rover rocks reveal ‘potentially habitablesustained environment’.

Micro-photography: Nikon Small World Photomicrography 2021 – pictures impossible to see with the human eye.

Pepsi goes analytical: PepsiCo is launching Pepviz Data Science practice for retail partners.

Read More

September 7, 2021

Retail Traffic Trends #42: August fights back.

This year has been a year of making the most out of what you got.  This has meant making more sales out of fewer customers than in years past.

For August 2021, thanks to salespeople doing what they do best, year-over-year same-month sales outperformed in multiple metrics despite fewer customers coming in.

It’s that time again, where we dive into the data from the previous month and see what we can learn about our foot traffic. Enjoy!

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • The furniture industry’s secret to beating August.
  • The power of 4 extra minutes with a customer in the mattress industry.
  • Get our upcoming research reports.
  • Heavy-hitting mattress stories from The Fam that you don’t want to miss.

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.

Furniture in August

Despite a drop in foot traffic, the furniture industry showed major strides compared to the same time last year. 

The customers who did shop in-store came with their checkbooks ready, making the average ticket the star of the show in August. With an increase of 21% compared to the same time last year, August now holds the record for highest average ticket thus far this year in the furniture industry. 

Last month, July 2021, had the highest conversion rate in 2021. August showed a similar trend with an average sales conversion of 37%, less than 1% off the yearly high. 

 

As we all know, fewer customers coming into the stores puts more importance on each customer that does walk into the store.  Salespeople in the furniture industry took this to heart and spent an average of 4 extra minutes with each customer in August 2021 compared to the same time last year. In contrast, July had 10% less foot traffic, and salespeople spent an average of 8 minutes more per customer.

Overall, the combination of more time with customers and a higher conversion rate resulted in average daily revenue of $19,387, only $400 off the yearly high in May.

A month to Remember

For the mattress industry, August was the month of the sales floor as salespeople made the most out of what they had.

Similar to the furniture industry, foot traffic was down as customers were near and far in-between. Despite a 14% drop YoY and a 3% drop compared to July 2021, the sales floor sold as if every customer was their last.

When it came to spending the extra few minutes required to make a sale, the mattress industry spared no time. On average, salespeople spent an extra 2 minutes with each customer. 2 minutes may not sound like a lot of time, but it only takes a few seconds to make the connection needed for a customer to cross the buying line.

Compared to the same time last year, sales conversion was up 6% and also saw a 15% increase compared to the previous month, July 2021. Although the average ticket saw a drop, a conversion rate of 75% resulted in an increase in daily revenue by 2%.

The Fam

Audio Stories

On this week’s episode of the Dos Marcos Mattress Podcast, they reminisce on their favorite audio stories from The Fam.

Mark and Quinn get it. Not everyone has the time or desire to read articles throughout the day. That’s why they created Audio Stories, every article on The Fam in audio form.

Listen to this Week’s Podcast to hear heavy-hitting mattress stories you won’t want to miss.

NOTEWORTHY NEWS

Virtual learning: 5 Advantages of Virtual Simulations for Developing Sales and Service Teams.

Ask retailers: What is in store for the future for furniture markets?

Buy-back: Ikea pilots Buy Back & Resell service in the U.S. as they strive to be a circular business by 2030.

Free publicity: How to transform media coverage into leads and sales.

RANDOM IRRELEVANCE

Wild Wild West: Plans for $400-billion new city in the American desert is unveiled.

McFlurry: McDonald’s broken ice cream machines are part of a Federal Trade Commission  investigation.

Space photography: Space station astronaut captures a breathtaking view of the edge of the Earth.

TP revolution: Americans are beginning to stock up on toilet paper again.

Read More

August 31, 2021

Retail Traffic Trends #41: Location is key

There’s a lot that’s changed in the retail industry in the last few years, but one thing that hasn’t changed is the significance of a store’s location.

Whether it be a mattress store closer to a customer’s home who wants to try it first, or a furniture store serving as a distribution center for online sales, physical stores are still very much alive and well. At the end of the day, the changes we can always count on are how and what customers are purchasing within the walls of a brick-and-mortar showroom and the different ways they can buy.

They say the more something changes the more it stays the same, that’s why we are dedicating this week’s newsletter to “new” trends that may look familiar to you.

WHAT ELSE IS IN STORE THIS WEEK?

  • Why retail locations matter now more than ever.
  • Inside the growing rental furniture industry.
  • Get our upcoming research reports.
  • How the furniture industry has made a 180 in the last few years.

FOOT TRAFFIC INDEX

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

FOOT TRAFFIC TRENDS

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

Location remains key

No matter how many sales come from online vs in-store, the location of your store still holds major importance.

Dick’s Sporting Goods, which has over 850 stores, has long used geographic data to ensure they choose a location with maximum foot traffic.

Dick’s is not only choosing locations based on foot traffic but also considering which areas would best work as some sort of distribution center.  In the first 3 months of 2021, 70% of Dicks online orders were fulfilled at their storefronts.

As shopping habits continue to change, the patients of shoppers stay the same. Consumers continue to want their goods as fast as possible, which in most cases the fastest option is to buy online and pick them up in-store.

Physical locations are not going anywhere, but rather their purpose has evolved into being the perfect pairing for online sales.

Furniture on rent

The furniture on rent market is about to see a major boom. The industry has had growing popularity in the Netherlands over the past few years, where there are over 3 million dwelling rentals.

Millennials and Gen-Z have shown major interest in furniture rentals as they have less money and interest in spending money on home furnishing.

The furnishing on rent market has received over $100 million in investments from various investor archetypes in 2021. As home assets continue to rise in price, the demand for furniture rentals will continue to grow.

In the coming years, the US is expected to account for 30% of the worldwide furniture rental market. 

The future of the mattress industry

The mattress industry, which has essentially been around since the 37th century BCE when the Persians made goat-skin water beds, has come a long way.

While the US furniture market is worth around 17.3 billion, the global furniture market is now worth $81 billion. The mattress industry revenue grew by 8.3% year over year in 2020 and is expected to grow an additional 3.9% in 2021.

The pandemic resulted in a surge in demand for home furnishing, which piggybacked off the surge brought by online mattress sellers in 2018.

While only 27% of consumers had a preference for online mattress shopping in 2016, the emergence of retailers such as Casper has resulted in 47% of consumers shopping for mattresses online in 2020.

Although there has been an increase in interest in buying mattresses online, location is still key. When consumers are in the mood to buy, mattress stores will continue to be their fastest option.

THE FAM

How to Handle “Walk-in” Customers and Convert Them to Buyers

This week our friends over at The Fam take a deep dive into how to make the most out of walk-in customers.

 

Cathryn Clark, vice president of Columbus Mattress Wholesale asked in a mattress industry Facebook group how to handle an influx of customers after moving to a new store location.

Her post was overwhelmed  with responses from retailers alike.

Steve Houk, owner of Boise Mattress gave one of the simplest and to-the-point answers: treat them like you would your other customers. Stew Segura, co-owner at Mattress Doctor Lafayette, says to do it ask the right questions.

Click Here to read the full article.

NOTEWORTHY NEWS

Selling re-imagined: Shopify introduces shopping tab to TikTok.

Shop-in-shops: As malls continue to decline, brands turn to shop-in-shops to get in front of new customers

Double-edged sword: More retail workers are quitting than ever, but more stores are opening than expected.

High-velocity SKUs: Home Depot improves inventory depth with a focus on high-velocity SKUs.

RANDOM IRRELEVANCE

A ‘pet’ peeve There’s now a dog bar in London serving canine cocktails.

Hurricane Ida: One million people in Louisiana are without power as Hurricane Ida hit Louisiana.

Space travel: SpaceX launches ants, avocados, and a robot to the space station.

Wearable muscle: Synthetic biology enables microbes to build muscle, making clothing stronger than Kevlar.

Read More

August 25, 2021

Retail Traffic Trends #40: Consumers take their revenge

As customers continue the trend of spending more than they usually do, sales have been hotter than H-E double hockey sticks. Some people call it revenge shopping, which is making…

Read More

August 17, 2021

Retail Traffic Trends #39: Retail analytics moves to the forefront

After a what’s turning out to be a record year, it’s onwards and upwards to see what the future holds for retail analytics.   

This month, many of you will be attending your first in-person conferences in more than a year and a half.  If we don’t see you there, say hi to everyone and have fun learning new things.

Or, even better, have fun unlearning a thing or two. 

And, if you don’t know what we mean, be sure check out the video below about how to learn something new that you thought you already knew.

WHAT ELSE IS IN STORE THIS WEEK?

  • What’s in store for the future of retail analytics.
  • Cognitive bias and the “Backwards Brain Bicycle”
  • Get our upcoming research reports.
  • DC features and enhancements 

FOOT TRAFFIC INDEX

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

FOOT TRAFFIC TRENDS

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

What’s new with Doorcounts

BrandSource: Next week Doorcounts will be attending the Brandsource National Buying convention in Nashville Tennessee on August 23-24th.

We look forward to showing everyone how to turn your foot traffic into more sales with as little as three clicks.

If any of you will be attending or are near Nashville, we would love to see you in person!

DC User Interface update: This Thursday we will be releasing our highly-anticipated dashboard refresh. You will now be able to see in-depth reports about your store(s) on one convent and powerful page.

In addition to the new dashboard, the update includes other new features and enhancements, including but not limited to:

  • Daily Sales Process – You can now enter sales/customer information into floorboard at a later date. This can be done through API, an excel upload, or a manual entry.

  • CRM – increased speed and reduced load time.
  • Scheduled actions – Filter scheduled actions and the action calendar by location or salesperson.

We look forward to showing you everything we planned for the future!

retail analytics

It’s no surprise that we at Doorcounts are big fans of retail analytics. And as it turns out, we are not the only ones.

A recent report found that the worldwide retail analytics industry is expected to reach $23.8 billion by 2027. The major jump in market size is mostly driven by retailers growing adoption of new technologies such as AI and retail clouds that help better predict what is to come in the retail industry.

In 2020, the software segment accounted for the largest share of the market with many retailers starting to utilize retail software to follow up with every customer and better understand the customer experience.

If you are already a Doorcounts customer, then it is more likely than not that you understand the power of using analytics to make better business decisions.

If you are not a Doorcounts customer and are looking to learn more, hop on a quick demo to see why you need Doorcounts in your business.

Cognitive bias and the “Backwards Brain Bicycle”

Check out this video from Smarter Every Day about the “Backwards Brain Bicycle” and how our brains work when we have to relearn something we think we already know.

It’s especially meaningful, given the speed of change businesses are experiencing due to the convergence of technology and its impact on human potential.

When something is easy, people say it’s like riding a bike. For some people, learning to ride a bike was not easy, but once they learned how to ride a bike the saying applied.

That’s until things change and you must unlearn something familiar and relearn something new.

This is where cognitive bias kicks in…
 

According to verywellmind.com, “A cognitive bias is a systematic error in thinking that occurs when people are processing and interpreting information in the world around them, and it affects the decisions and judgments that they make.”


Read the entire article on our blog.

NOTEWORTHY NEWS

Consumer relationship: Build a stronger brand-consumer relationship using social media.

A new era of currency: Walmart is hiring a ‘cryptocurrency lead‘ to develop digital currency strategy and Products.

Test of time: How do retail furniture prices stack up over the years?

retail and e-commerce: The divergence between convenience and luxury.

RANDOM IRRELEVANCE

Cool tech: Audi unveils a shape-shifting concept car.

Banksy’s back: Banksy confirms he is behind ‘spraycation’ artworks in British coastal towns.

Alaska: Three volcanoes are erupting simultaneously on the Alaskan island chain.

Sudoku: The man who created the infamous Sudoku puzzle, Maki Kaji, passes away at 69.

Read More

August 9, 2021

Retail Traffic Trends #38: Retail’s Record-Breaking Month

What separates a good month from a great month?

As we start the second week of August, it’s time to sit back and pat ourselves on the back for a record-breaking month in the retail industry.

In July, both the furniture and mattress industry saw yearly highs in multiple metrics as foot traffic increased and salespeople continued to convert more sales.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • The power of 4 extra minutes spent with a customer.
  • Emerging technologies are helping retailers expand their community of loyal customers.
  • New ways retailers are putting a physical twist on digital selling.
  • Get our upcoming research reports.

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.

Furniture’s July sprint

As summer heatwaves continue, the furniture industry carries on with its summer momentum.

Foot traffic saw a relatively significant drop of 23% compared to July 2020, but see a 16% increase compared to last month (June 2021). We would like to assume that the drop in traffic is a result of people staying inside on hot days, but regardless, salespeople in the furniture industry pushed on.

Compared to last July, salespeople are converting 9% more sales, which resulted in a daily revenue increase of nearly 1%. While the 1% doesn’t seem like much, it’s quite impressive considering the lack of foot traffic relative to last year.

Converting more sales doesn’t come without the effort and time put in by the people on the sales floor. In July, salespeople spent an average of 38 minutes with each customer, which is up 5% compared to July 2020, and also up 5% compared to June 2021. 

A month to Remember

For the mattress industry, July was filled with green grass and even greener metrics.

The mattress industry saw major increases in nearly every metric compared to both July 2020 and June 2021. One of the biggest increases was in daily revenue, where July saw a 38% increase compared to the same time last year, and a 43% increase compared to last month (June 2021). 

Unlike the furniture industry, the revenue increase did not come from an increase in conversion rate, but instead, a rush of foot traffic.

Foot traffic increased by 18% year-over-year, and 35% month-over-month. The 18% increase gives July the highest foot traffic of 2021 so far.

As more customers walk into the store, salespeople continued to take the time necessary to make a sale.  Compared to last July, when the mattress industry had 18 less foot traffic, salespeople spent 5% more time with customers, which adds up to around 4 extra minutes.

As we all know, those 4 minutes can be the make or break moment for connecting with the customer and making a sale. Not only that, but those 4 extra minutes could easily be the differentiating factor that increased the average ticket in July by 21% compared to the same time last year.

Overall, July was a month to remember for the mattress industry.

Get our upcoming research report:
Building a high-performance sales team

There is data that clearly points to better sales results. The question is, can you see it from anywhere, on any device? Either way, our upcoming research report will give you the insights you need to win. 
 
Here are some of the top questions we answer for YOU!

  • Do follow-up sales have a higher average ticket than first-visit in-store sales?
  • How does closing out follow-up tasks make a big difference?
  • Why in-home visits for furniture stores are essential?
  • Do active Doorcounts users perform better than the rest?

If you have Doorcounts, chances are you probably know the answers to these questions. The sales game is more competitive than ever. But, there are always ways to dominate when you have the right data and know how to use it.

 
SIGN UP TO RECEIVE THE REPORT WHEN IT’S RELEASED.

NOTEWORTHY NEWS

The ‘Phygital’ World: How retailers are reinventing the in-store experience digitally.

A new era of showroom: How an outdoor furniture brand Outer grew its unique showroom model.

Keeping customers loyal: See which technologies are being used to stay in touch and grow your community of loyal customers.

A new twist: ‘Junk Sleep’ ad campaign provides a refreshing spin on selling mattresses.

RANDOM IRRELEVANCE

The price to pay: The Tokyo Olympics Cost $15.4 Billion. What else could that buy?

Checkmate: A New Jersey 12-year-old is the world’s youngest chess grandmaster.

A fried dream: KFC is opening a pop-up hotel where guests have their own ‘press for chicken’ button.

Million-year-old question: The origin of the dinosaur-ending asteroid has possibly been found.

Read More

August 2, 2021

Retail Traffic Trends #37: Read your customers minds’

Do you ever wish you could read your customers minds’?
 
Although not everyone is a fan of the digital shift the retail industry has made, it’s hard not to love all the information you can gather with little to no work with digital selling solutions.
 
This week we take a deep dive into how digital solutions such as e-commerce and virtual showrooms give retailers an abundance of information about what the customer is interested in.

WHAT ELSE IS IN STORE THIS WEEK?

  • Using digital solutions to pick your customer’s brains. 
  • How to build a community of loyal customers through your customer experience.
  • Retailers’ solutions to increased wait times and shipping delays.
  • Get our upcoming research reports.

FOOT TRAFFIC INDEX

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

FOOT TRAFFIC TRENDS

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

Pick your customers minds’

While going virtual was a total 180-degree turn for most retailers, the tracking and information gathering available with online selling allows retailers to see into the minds of their customers.
 
Live-stream selling events, online sales, and virtual showrooms give retailers a surplus of information that is not nearly as easy to get with in-person visits. The time a customer spends looking at a specific product, related products viewed, and items sitting in a customer’s cart are all examples of a situation where a surplus of information is gathered.
 
Interests, price range, and customer expectations are all metrics that are almost instantly gathered through most forms of digital selling and marketing.
 
In contrast, in-person sales require salespeople to be asking the correct questions to gather the required information. Which as we all know, can be easier said than done.

Winning loyal customers

As stores continue to open and online sales continue to come in, it is key to marry your online and in-store experience to win loyal customers.
 
A recent survey found that 73% of customers believe that a good in-store visit is the most important factor influencing their brand loyalty – We’ve all experienced that “one” bad experience with a salesperson that makes you never want to buy from that store again.
 
In the United States, even when people love a company or product, 59% will walk away after several bad experiences, 17% after just one bad experience. Not surprisingly, but every single visit with a customer has great importance as it easily could be their last if they have a bad experience.
 
For the online world, making sure to find “trouble points” or the point in which most customers abandon their cart, will be key to enhancing your online customer experience.

Retailers vs. shipping delays

Since the beginning of the pandemic, shipping delays and wait times have been a sore subject for retailers alike.  
 
As many of you know, half the time it wasn’t due to a product shortage, but a shortage of shipping containers to get the product to your store and customers. Even once you get a container, the prices have skyrocketed.
 
While all this is very common knowledge, knowing how other retailers are handling the situation will give you more ideas on how to deal with frustrated customers. For larger retailers, solving the wait times can be as easy as biting the bullet and paying the increased price. But for smaller retailers, it’s not that easy nor simple.
 
Certain groups such as the AAFA have pointed out policy solutions to help monitor how the Federal Maritime Commission charges retailers in hopes of giving smaller retailers a solution for the delays and price increases.

Get our upcoming research report:
Building a high-performance sales team

There is data that clearly points to better sales results. The question is, can you see it from anywhere, on any device? Either way, our upcoming research report will give you the insights you need to win. 
 
Here are some of the top questions we answer for YOU!
 
  • Do follow-up sales have a higher average ticket than first-visit in-store sales?
  • How does closing out follow-up tasks make a big difference?
  • Why in-home visits are essential for the furniture industry?
  • Do active Doorcounts users perform better than the rest?
If you have Doorcounts, chances are you probably know the answers to these questions. The sales game is more competitive than ever. But, there are always ways to dominate when you have the right data and know how to use it.
 
 

NOTEWORTHY NEWS

Building a sales team: 9 of the biggest mistakes made making when building a sales team.
 
The show goes on: Why Americans aren’t cutting back on spending — even with rising inflation
 
Retail’s next challenge: What the delta variant already means for retail.
 
Catalog facelift: Ikea tracked 1.4 billion click-throughs to their first digital catalog with a reach of more than 2.8 million.

RANDOM IRRELEVANCE

Dubai’s weather machine: It’s so hot in Dubai that the government is artificially creating rainstorms.
 
Power in numbers: 1 out of every 153 American workers is now an Amazon employee.
 
A piece of cake: Prince Charles and Princess Diana’s wedding cake from 1981 to go up for auction.
 
Olympic medals: How much are the Olympic medals worth in 2021?

Read More

July 26, 2021

Retail Traffic Trends #36: Old is new

Old is the new NEW.
 
After the last years have pushed the hand of many retailers to make the digital transformation, some retailers are seeing the benefits of going back to the old ways.
 
This week we examine why some retailers are seeing significant returns using old methods. Along with the resurrection of old methods, we take a look at the challenges that a new breed of customer brings to retail.

WHAT ELSE IS IN STORE THIS WEEK?

  • The importance of product information management.
  • Why retailers are returning to an old form of marketing.
  • How to sell to the new type of customers – Gen-Z.
  • Get our upcoming research reports.

NEW TO DOORCOUNTS THIS WEEK

Chat is now enabled!

The highly-requested chat feature is now back in action. You can now quickly chat a message to our support team and get a response from within Doorcounts.

As great as the chat feature is, we are aware that some companies do not want to have chat within Doorcounts. If you would like chat removed, please email or chat support and they will turn it off for you.

We look forward to chatting with you all!

FOOT TRAFFIC INDEX

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

FOOT TRAFFIC TRENDS

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

Product information management

When nearly any and every piece of information is available someplace on the internet, the least you can do is have customers learn about your product from your website -not a competitor.
 
A recent Digital Trends Report found that 79.1% of retailers are planning to use social media and digital marketing to enhance their customer experience and improve product knowledge.  
 
With going online comes beefing up the product descriptions across your different platforms. One of the easiest ways to lose a sale is to leave a generic product description that customers can easily gloss over. When in doubt, the Roy Williams method never fails.
 
Along with a well-written product description, product comparison is just as important.  Making it easier for customers to choose between two different products will make it less likely they get neither option. 

Old is new

Although we just discussed how 79% of retailers are taking more of a digital approach, many retailers are returning to their old methods.
 
Old methods, such as print advertising, have been around since Tiffany’s “Blue Book” in 1845. Since 1845, the medium has slowly taken the backseat to digital forms of advertising. Not only is print more expensive, but far fewer people read print than those who get their information online.
 
As many key players in the print world have gone digital, print advertising has become more appetizing for retailers to stand out.
 
Along with print, direct mail has seen a resurgence lately. Belardi Wong, a marketing agency, says 80-90% of their clients saw heightened response rates in the mail for both customer acquisition and retention within the last year.
 
At the end of the day, it is never too late to go back to the old ways and see the impact different mediums have on your business.

A new breed

After the millennials, Gen-Z is the next consumer segment to begin living on their own and starting their own lives.  This new generation of customers has unique sets of wants and needs, as well as a unique financial situation.
 
Most of Gen-Z have money saved from part-time jobs, gifts, and savings over the years without major expenses.
 
Where Gen-Z stands out is their desire for instant gratification.  You will not find many people in Gen-Z who are willing to wait weeks for a piece of furniture. When they want something, they want it now, not later.
 
Even though most people in this consumer segment have money saved, Gen-Z is very diligent about price checking on their phones and ensuring they can’t get a better deal elsewhere.
 
Read more about a salesperson’s experience selling to people in Gen-Z and the takeaways for selling to this new type of customer.

Get our upcoming research report:
Building a high-performance sales team

There is data that clearly points to better sales results. The question is, can you see it from anywhere, on any device? Either way, our upcoming research report will give you the insights you need to win. 
 
Here are some of the top questions we answer for YOU!
 
  • Do follow-up sales have a higher average ticket than first-visit in-store sales?
  • How does closing out follow-up tasks make a big difference?
  • Why in-home visits are essential for the furniture industry?
  • Do active Doorcounts users perform better than the rest?
If you have Doorcounts, chances are you probably know the answers to these questions. The sales game is more competitive than ever. But, there are always ways to dominate when you have the right data and know how to use it.
 
 

NOTEWORTHY NEWS

Croc revolution: Crocs revenue nearly doubles in Q2 as DTC and wholesale take off.
 
Dancing retail: TikTok to launch workshops to support small business growth.
 
Googles Kryptonite: Everything to know about Amazon’s $21 billion and growing advertising business.
 
Technology wins: Why you should ditch conversion rate optimization for customer experience optimization.

RANDOM IRRELEVANCE

Gold hunting: Keep an eye on which country is winning the most medals at the Tokyo Olympics.
 
Onward and outward:  SpaceX is awarded $178 million for NASA’s first mission to Jupiter’s moon Europa in 2024.
 
Ramsey’s dethrone: How Guy Fieri became the highest-paid chef on cable TV.
 
Terrifyingly impressive: Toyota’s basketball robot steals the show at the Tokyo Olympics.

Read More

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