July 20, 2021

Retail Traffic Trends #35: Retail’s bigger picture

Last week we took a look at the second quarter by sales volume and got a sneak peek into the differences between a small retailer and a global brand.
 
While taking a deep dive into key performance metrics is our bread and butter at Retail Traffic Trends, sometimes you need to sit back and look at the bigger picture.
 
This week we uncover the importance of small retailers and the big impact they are making on the retail sector in 2021.

WHAT ELSE IS IN STORE THIS WEEK?

  • A look into the data that shows the scale or retail in 2021.
  • Simple ways to use online orders to increase average ticket.
  • Marketing with consumer trust in mind.
  • 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.

Retail: the bigger picture

Sometimes while searching the internet you find an article or paper that is jammed pack with useful information.  This week, that article was Retail Statistics You Should Know by Small Biz Trends.
 
Although key performance metrics are important to watch, this week we take a look at data that captures the bigger picture of retail.
 
In Q1 of 2021, Non-e-commerce sales were 86% of total retail sales in the US during the quarter. Although it may feel like e-commerce is gaining momentum, shoppers are still adamant about shopping in physical stores.
 
62% of shoppers still prefer shopping in-store because they can see and feel the product themselves.  In the same survey, 49% of people prefer in-store because of the speed they can get their product compared to online shopping.
 
One stat that caught my eyes was that 56% of shoppers are more likely to buy if the salesperson simply remembers their name.  The customer’s experience can be night and day by the small act of listening and making them feel heard.
 
I would recommend everyone to take a look at the article above because it is jam-packed with actionable data you can implement in your business.

Small retailers take the win

Small retailers don’t sell at the same level as major corporations but pack a major punch when it comes to other metrics.
 
For starters, small retailers are not small when it comes to contributing to the economy. A recent report by score.org breaks down the importance of retailers with less than 50 employees.
 
Small retailers employ 39.8% of all retail employees. In addition, retailers with less than 50 employees make up 98.6 of all retail firms, adding up to nearly 131,470 small specialty retail stores in the US in 2021. 
 
The title of small retailer does not do justice for the impact and scale of the group as a whole.  As they say, there is always power in numbers, and small retailers more than have the numbers.

Using online orders to increase average ticket

While one would usually assume that in-store visits result in higher average tickets, the potential value of the sale can be significantly higher when the right strategies are used.
 
First, we have to understand why shoppers are shopping for your product online in the first place. 65% of consumers conduct online product research before entering a store. With that, shoppers are more likely than not to go on your website before entering a physical store.  
 
If you can chat or communicate with customers when they are in the research phase, the more likely they are to buy from you.
 
A simple yet effective way to increase your average ticket online is to introduce or raise your free shipping threshold. There have been endless psychological studies that show how much people love free shipping. Sadly, I’m guilty of spending more on a product that has free shipping than I am to buy a cheaper product with a shipping cost.

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

Loyal customers: The keys to building a modernized loyalty & rewards program.
 
Sustainable retail: 5 reasons you should adopt a circular economy business model.
 
King of shipping: How Maersk dominates the global shipping industry.
 
Technology wins: June retail sales show the importance of retail technology innovations.

RANDOM IRRELEVANCE

Unlikely sighting: A 100-pound tropical fish was discovered on a beach in Oregon.
 
National Ice Cream Day: Where to score free or discounted treats on the big holiday.
 
Flaming weather: The Bootleg Fire in Oregon is so large, it’s creating its own weather.
 
The second sighting: After capturing the first photo of a black hole, the Event Horizon Telescope zooms in on a second.

Read More

July 12, 2021

Retail Traffic Trends #34: Q2 2021 Metrics by sales volume

What separates the big leagues from the minor league or the leaders from followers?
This week we take a look at the second quarter metrics by sales volume to see how those who are selling at maximum potential compare to those who need an extra push.
 
At the same time, we take a look at what improvements can be made to bridge the gap between mom and pops stores and major franchises.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • Join Podium and The Fam’s upcoming webinar.
  • The relationship between time with customers and foot traffic.
  • The mattress industry’s payoff for gathering customer information.
  • Get our upcoming research reports.

JOIN:
The FAM X PODIUM webinar

During this first-ever webinar, The FAM tells you the story of a rogue delivery driver who stumbled across Podium and single-handedly generated $11,000 in sales in one month (spoiler: his boss couldn’t figure out where the money was coming from).
 
ALSO: How more creative retailers are using world-class communication, texting, appointment reminders, and text-to-pay to boost sales, serve customers, and earn repeat business!
 
REGISTER FOR WEBINAR

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.

Q2 Furniture by sales volume

After sorting all of the stores in Q2 by sales volume, we can see how each metric plays a role in certain stores selling a significant amount more than others.

Metrics in green signify the high for the quarter, while red displays the low for the quarter. Not surprisingly, the top 33% had a quarterly high for each metric.

The major difference between the top percentile and the middle percentile is not conversion rate, but foot traffic. Both the top and middle percentile have a comparable conversion rate, but the top percentile saw 38% more traffic than the middle.

Not only did the top percentile see the most foot traffic, but the salespeople in those stores took the extra time needed to make a sale. When your store gets busy, it’s easier said than done to fully engage with every customer. Even with more foot traffic than the other percentiles, the top performers left no stone unturned when it came to spending time with customers.

Lesson to be learned: Don’t rush your customers. Taking the time to get to know them and their wants will go far when trying to get the most out of every sale.

Q2 Mattress by sales volume

Unlike the furniture industry, the top percentile is not the record-holder for each metric.

For the mattress industry, the middle percentile was able to hang with the top dawgs when it came to getting customer information and spending an ample amount of time with customers.

The more time spent with customers, the more likely salespeople were to gather customer information for potential sales. The middle percentile spent the most time with customers and as a result, gathered the most customer information.

Even if the middle percentile did not have the same level of sales as the top, they have a higher potential of future sales as a result of the extra time spent gathering customer information.

The differencing factor for the top percentile was not foot traffic as we saw in the furniture industry, but instead, the average ticket is where the difference was made.

The top percentile had a 16% higher average ticket than the middle percentile, and a 28% higher average ticket than the bottom percentile.

NOTEWORTHY NEWS

Aflac duck: How Aflac’s duck commercials ‘doubled its business in three years.

Foot traffic race: Nashville/Memphis leads increases in bi-weekly foot traffic monitor.

Retail’s new form: Why the future of online retail will have a resemblance to QVC.

Hybrid work: Apple is the latest company to test hybrid retail worker schedules.

RANDOM IRRELEVANCE

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Fake reviews: Why Amazon is now letting sellers reply to negative reviews.

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Read More

July 6, 2021

Retail Traffic Trends #33: How does your store stack up?

After an eventful month, we can finally take a breather and enjoy the fruits of July.

With father’s day and the 4th of July within the last month, there is much to debrief when it comes to analyzing traffic patterns and data.  On top of the two holidays, warm weather and decreasing social restrictions set up the retail industry for a major sales month.

While you and your team start breaking down your own numbers, this week we take a deep dive into the industry averages for the month of June.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • Warm weather and the impact on foot traffic patterns.
  • The bittersweet outcome for the mattress industry.
  • Making sales conversation effortless with difficult customers.
  • 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.

Two steps forward,
One step backward


June 2021 was filled willed with sunshine, heat beyond imagine and reduced social restrictions across the country. For the furniture industry, June consisted of higher conversion rates and larger than the usual average tickets.

As the heat increased, people found themselves adding extra pieces of furniture to their homes while they stayed cool inside. Not only did average ticket see an increase of 31% compared to the lockdowns of June 2020, but also a minor increase of 1% compared to the month before.

While improvements from last year are important to note, we can almost guarantee an increase considering the state of the world in June 2020. It’s important to note that of all the metrics that are up compared to last year, foot traffic is not one of them.

Semi-surprisingly, foot traffic is down 31% compared to last year. While social restrictions were much more prominent last year, furniture was at the peak of its demand due to months of people staying at home.

Even with the increased demand and foot traffic in June 2020, the furniture industry increased their average daily revenue by 0.06%. While the percentage is rather small, it holds huge value considering the circumstances.

Mattress mayhem

Similar to the furniture industry, June 2021 had a bittersweet performance.

To start off with some positive takeaways, the mattress industry saw an increase in every metric compared to June 2020. Not only was foot traffic up over 160%, but the people who came into the store spent an average of 22% more compared to June 2020.

Salespeople found their June groove and increased conversion rate by 0.08%, which was just enough to push the average conversion rate over 70%. The ability to sell to 7 out of the 10 people who walk through the door is a quick way to increase the year-over-year daily revenue by 130%.

Here the bittersweet part: 4/5 of the metrics saw over a 15% decrease compared to the previous month, May 2021.

On the bright side, sales conversion being the only metric with an increase tells us that the decrease is a result of external factors, not the result of poor sales performance.

NOTEWORTHY NEWS

A sales conversation: The 5 key takeaways for making better sales conversationafter someone made over 500 sales calls over the last two years.

Building better loyalty: Smart store technologies that are transforming retail experiences.

Caspers revenge: Casper has announced a retail partnership with Mattress Warehouse.

Beyond social: Simple LinkedIn tools that could boost your sales.

RANDOM IRRELEVANCE

Evolutionary breakthrough: A Massive skull found in China might be a new human evolutionary branch.

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Crabby texture: A new facility will produce bio-based textile treatments derived from crab and shrimp shells.

New dawn: Jeff Bezos picks a female aerospace pioneer to launch into space with him.

Read More

June 28, 2021

Retail Traffic Trends #32: Selling to the reimagined customer

From new sales techniques to the ever-evolving expectations of customers, a lot has changed in the last year. According to Accenture, one of the major changes was the birth of a new type of customer – the reimagined customer. 
 
As always with a different type of customer comes new and different kinds of expectations from the businesses they buy from.
 
Read more below about how to understand the reimagined customer, and find ways to cater to the values that matter most to them.

WHAT ELSE IS IN STORE THIS WEEK?

  • How inflation is changing consumer expectations.
  • Understanding new techniques for selling to the reimagined customer.
  • Marketing with consumer trust in mind.
  • 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.

DC FEATURE OF THE WEEK

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

Comments report

Do you ever remember a comment you wrote about a customer but can’t remember which customer it was?
 
The Comments report lets you view all comments from no-sales, potential sales, sales, and excluded photos.
 
Now you will never lose a comment made that could lead you to your next big sale.

FOOT TRAFFIC TRENDS

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

The reimagined customer

A recent survey by Accenture dug deep into the ways the pandemic changed consumer behavior.
 
The survey discovered a new type of customer that emerged from the pandemic –the reimagined customer.
 
Reimagined customers make up 50% of the 25,000 people surveyed.  These customers say the pandemic changed their purpose and made them reevaluate what is important to them.
 
This is great to hear, but how do you sell to this new type of customer?
 
72% of the reimagined customer expect companies they buy from to address how their wants and needs have changed during these times.  On top of that, 50% find themselves disappointed with the way companies are currently addressing their situation.
 
In comparison to the traditional customers, reimagined customers value good service, trust, and reputation more than price and quality.

Inflation and the effect on consumer expectations

Not only has the pandemic caused a change in consumer expectations, but other variables such as inflation play a major role in the times to come. 
 
Even if customer finances are up, the fear of rising inflation is bringing buying confidence down. A combination of a shortage of supplies, increased demand, and the Federal Reserve’s main inflation measure rising by the most in 29 years results in shoppers pumping the brakes on their shopping.
 
Similar to the reimagined customer, the key to managing expectations is to be understanding of the customer’s situation.  Addressing and understanding that many customers will be unhappy with a variety of factors such as price and delays.

Marketing with consumer trust

A recent study found that among consumers today, 70 percent say trusting a brand is more important today than in the past. Consumers are becoming more driven by common values rather than price or convenience. 
 
Amount the same group surveyed, 53 percent agree that trust is the second most valuable factor behind price.  People would choose to buy from someone they have a relationship with instead of a random marketplace online.
 
Any easy way to build trust without direct marketing is by the way your company responds to certain situations and issues.  The way a company holds itself in trying times can go a long way for customers.
 
Although it’s easier said than done to shift your marketing from new features or deals to marketing around building trust with your customers, sales become simple once the relationship with your customers has been formed.

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

Saying vs. being: How to differentiate between saying you’re customer-centric, and being customer-centric.
 
Socialize your company: 15 keys to get the most out of Instagram for your company.
 
Retail joins the dark side: see which retailers showed up as the biggest Prime Day ever pushes US e-commerce above $11B.
 
The beginning: How omnichannel retail is shaping the future of the retail store.

RANDOM IRRELEVANCE

Tokyo Olympics: See which athletes have already qualified for the Tokyo Games.
 
Watch: The U.S. Navy sets off a giant explosion to test USS Gerald R. Ford.
 
Vanishing act: A gigantic antarctic lake suddenly disappears in a monumental vanishing act.
 
Space gators: A Florida company is offering a luxury trip to space for a pretty penny.

Read More

June 21, 2021

Retail Traffic Trends #31: Are you selling your store short?

As we wrap up a holiday weekend like Father’s Day, it’s easy to see how your sales team would start looking forward to the next holiday sale. The problem in this mindset is that just because the holiday ended, doesn’t mean that the sales opportunities it created have ended as well. 
 
It is always easier to look forward to the next big event than it is to follow up on the opportunities that walked out the door during the past sales event.
 
The good news is, with the right system, you can accomplish both–follow up and close the business and get the customer in for another sales opportunity during the next event.
 
The question is, do you have the system necessary to do this?
 
With this in mind, this week we look forward to the Fourth of July and the insights that can help you make this your best event ever.
 
However, just because we are focusing on the next big event, doesn’t mean your salespeople should. Our research shows there are a lot of missed opportunities that can be closed when you have the right system in place to hold your team accountable for following up with the clients who left without buying. 
 
So, starting today, make sure your sales team follows up with every customer that leaves without buying. AND, don’t forget to sign up for our upcoming research report about how to build a high performance sales team. 

WHAT ELSE IS IN STORE THIS WEEK?

  • A look forward to the keys to furnishing the fourth.
  • Lessons learned from Fourth of July 2020 in the mattress industry.
  • The impact a smile has on the consumer experience.
  • 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.

DC FEATURE OF THE WEEK

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

Potential Sale Report

A potential customer is a customer you gathered information on who left the store without buying. These customers or “prospects” have a high sales value when follow up is prompt. 
 
With the Potential Sale Report, you can view a summary of your potential sales including customer Information, salesperson actions, Schedule date/time, Product Category, etc.)
 
The report is a great way to stay on top of your scheduled actions and potential sale opportunities in order to convert them into satisfied customers.

FOOT TRAFFIC TRENDS

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

Fourth of July – Timing matters

One of the best ways to situate your team in a position for success leading up to a big holiday is to dive deep into the data from years past.

Although the last Fourth of July was in a pandemic, shoppers still came out with their checkbooks ready.

This week we took a deep dive into the week before and after Fourth of July 2020 to see what trends are hidden in the data.

Furnishing the fourth

In the week leading up to the Fourth of July, foot traffic continued to ramp up throughout the week. While there was only an average of 3 shoppers per day 7 days before the fourth, the 3rd of July saw an average of 38 customers in the furniture industry.

To our surprise, the week after the fourth was where the action happened. For the mattress industry, the week leading up to the holiday had an average ticket of $1,554.82 and average daily revenue of $17,816.30, while the week after had an average ticket of $1,650.88 and average daily revenue of $19,388.25.

While the holiday hype usually occurs leading up to the holiday, the data shows us there is absolutely no reason to pump the breaks until well over a week after a holiday like the Fourth of July.

The significant increase in foot traffic and sales that you would expect from a holiday sale did not start until July 3rd for the furniture industry. July 3rd had the best performance of any day in the two weeks around the Fourth. The average foot traffic of 38 customers on the 3rd resulted in an average ticket of $1,973.50 and daily revenue of $37,645.29.

The major takeaway is to stay motivated throughout the week before a sale knowing that the major rush is to come right before and after the holidays.

Mattress industry keeps its stride

Similar to the furniture industry, the mattress industry saw its foot traffic triple in the days leading up to the holiday.

Although the furniture industry had a more dramatic shift between the week before and after, the mattress industry was more melodramatic with subtle changes between the two weeks.

Both the week leading up to the 4th and the week after had an average of 2 customers a day. Similar to the furniture industry, July 3rd (Friday) had the highest foot traffic with an average of 5 customers and the highest daily revenue of $4,376.37, nearly double the average for the week.

The week after the fourth was very similar to the previous week with nearly identical traffic resulting in a 3% decrease in average ticket and a 7% decrease in daily revenue.

Despite the slight decrease, the data proves that continuing your momentum past the holiday can yield the same results if not better than the week before.

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

Simple yet effective: simple marketing ideas and tactics to make the most out of the 4th of July.
 
Finding the silver lining: How to motivate your sales team through a long weekend sale.
 
Evolving habits: Many retailers update their 2021 holiday strategies amid evolving shopping habits.
 
holiday preparedness: tips to maximize sales events without selling your soul.

RANDOM IRRELEVANCE

Eaten alive: A Cape Cod diver survives after a humpback spat him out.
 
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Keep Portland weird: ‘Free Blockbuster’ neighborhood movie libraries popping up across Portland.
 
Samoas surplus: Girl Scouts say they have millions of boxes of unsold cookies due to the pandemic.

Read More

June 15, 2021

Retail Traffic Trends #30: Get your head in the game

What do you lose when your sales team is not at the top of their game?
 
Get our upcoming research report where we take a deep dive into what’s working and how you can instantly put these insights into action and make more sales.
 
You might be surprised by what we’ve learned and how easy it is to maximize your sales team’s performance at every opportunity. Who knows, this could be the game changer you have been looking for. 

WHAT ELSE IS IN STORE THIS WEEK?

  • Everything new and upcoming to Doorcounts.
  • How the increase in technology adoption has brought crypto into retail.
  • The difference between experience and data and how to combine the two practices.
  • A look into the updated projections for retail in 2021.

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:

Mass excludes

Mass EXCLUDE gives the Administrator a quick way to remove the non-shopper photos, and get a Net Opportunities number.
 
With Mass EXCLUDE, you can remove a day’s worth of non-shopper photos, in just a few minutes. 
 
When using Mass EXCLUDE, you can also create a new EXCLUDE Reason:  Mass Exclude, to make it even easier to process these.

FOOT TRAFFIC TRENDS

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

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. Some top questions we ask is, why…
  • Follow-up sales have a higher average ticket than first-visit in-store sales?
  • Closing out follow-up tasks makes a big difference?
  • In-home visits for furniture stores are essential?
  • 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.
 

Cryptocoin-back

While the idea of giving cash-back is nothing new, the hype around cryptocurrency has customers willing to accept crypto rather than cashback.
 
A recent survey found that 44% of Americans are interested in receiving cryptocurrency such as Ethereum or Bitcoin instead of cash.
 
Starbucks, Whole Foods, and Nordstroms are among some of the brands that are already accepting cryptocurrency for purchases.
 
With almost half of Americans interested, the opportunities to implement cryptocurrency into rewards programs are endless. As more and more crypto becomes available with different values and meanings associated with them, there is bound to be an option for every shopper.

Data vs. experience

For decades now, companies have used their experience and insights on how their business works to develop a strategy for the future.
 
The pandemic quickly showed us that past experience went out the door when everything in the retail world became so far from normal –This is where data came to save the day.
 
Retail data allowed retailers to see new trends in the shopping experience and helped retailers find the best way to implement new technology.
 
But with great power comes great responsibility. Data privacy is something that many people take very seriously and can greatly impact their brand loyalty.
 
Clearly outlining your privacy agreement and what data you do and don’t track can make the difference between a one-time buyer and a lifetime customer.

A look forward

We have reached a time within the year where both analysts and retailers are very optimistic about the future for big-ticket retailers.
 
While at one point the National Retail Federation predicted retail growth to reach around 6.5%, the NRF now expects retail to grow between 10.5% and 13.5% by the end of the year.
 
This new projection of over 10% growth is estimated to total between $4.44 trillion to $4.56 trillion.
 
The updated projection was based on new vaccination numbers, re-opening of stores across the country, and consumers’ built-up demand after a locked-down year. 

NOTEWORTHY NEWS

The right decision: Why The future of retail belongs to those who make the best decisions.
 
The return: How companies cashing in as Americans return to offices.
 
Port crisis: Ports are seeing record volume as supply chains struggle to meet demand.
 
Flexible talent: A Game Plan for Introducing Flexible Talent.

RANDOM IRRELEVANCE

Plant mayhem: A New Zealand houseplant sells for $19,200 in an online bidding war.
 
Fishy security: How a casino was hacked through a fish-tank thermometer.
 
The return: After hiding underground for 17 years, Cicadas return to New York.
 
Netflix swag: Netflix launches a shopping experience that lets viewers buy gear related to their favorite shows.

Read More

June 7, 2021

Retail Traffic Trends #29

Each month that we report on retail analytics we are blown away by the rebound retailers have made since retail stood still this time last year.
 
May 2021 was no exception with retailers seeing major improvements from both last month, and the same time last year.

WHAT’S IN THIS WEEKS EDITION, YOU ASK?

  • See how the furniture industry has changed since last May.
  • How the mattress industry increased average ticket by 42%.
  • The different ways motivation and accountability play a vital role on your sales team.
  • The return of the handshake in business.

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:

Excluding photos
Excluding photos can be a great way to keep your counts as accurate as possible, but for a manager, it can be seen as an excuse for salespeople not to help a customer.

To see exactly where the excludes are coming from, the charts filter by Exclude reason, location, salesperson, and by time threshold

FOOT TRAFFIC TRENDS

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

Furniture industry on top in May

The furniture industry made major strides compared to May 2020, which is quite the achievement given that May 2020 was the best month for furniture last year.

When shoppers went to stores in May of last year, there was a much higher likelihood they would buy due to the risks involved with shopping at the time. That being said, a 10% decrease in sales conversion is a minor setback to an otherwise great month.

Customers are starting to spend more of their excess savings on each shopping trip as we see not only an 18% increase in average ticket since May 2020 but also a 7% increase since April 2021.

Although the conversion rate was lower than it was at the same time last year, an increase in foot traffic to 27 customers a day greatly helped the bottom line for sales.

For the first time since we’ve released this newsletter, the furniture industry is closing in on $20,000 in average daily revenue. In comparison, May 2020 had an average daily revenue of $13,300.

Overall, the data from May 2021 would make you assume that the world is fully back to normal, which more than anything shows the need to compare data to what is happening in the world at that time.

SEE FULL COLLECTION OF CHARTS BELOW

FURNmaynewprospcts
FURNmaydailyopps
FURNmaydailyrev
FURNmayavgticke
FURNmayconversion

Mattress industry leaves May in the dust

Similar to the furniture industry, the mattress industry is in the green for every metric besides sales conversion compared to May 2020.

Simply put, converting sales was much easier when a majority of people were shopping to shop, rather than to browse.

As we all know, most metrics will fall into line if foot traffic stays steady. Compared to May 2020, Foot traffic is up 217% in May 2021. Obviously, the percentages are a little deceiving when we are talking about 2 or 3 customers a day.

Although sales were converted at a higher rate in May 2021, an increase in both foot traffic and average ticket resulted in a daily revenue increase of 195% year-over-year. On top of that, daily revenue is up 21% from April 2021, which had the highest daily revenue this year up until May.

Shoppers are not just going to stores more frequently, but they are spending more money during each purchase. This is a trend that has continued throughout 2021.

Throughout 2021 we are not only seeing year-over-year increases in the mattress industry, but also month-by-month increases.

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NOTEWORTHY NEWS

The handshake: Is the handshake back? How we’re greeting each other as the world slowly reopens.
 
Dose of motivation: How motivation and accountability play a vital role on your sales team.
 
Smart retail: Simple ways to merge the gap between physical and digital stores.
 
Primetime: Experts suggest we are entering the best environment for retail in many years.

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June 1, 2021

Retail Traffic Trends #28: the price for speed in retail

From the need for speed in retail to the battle between retailer and technology, a new week means new trends in retail.

WHAT’S IN STORE THIS WEEK?

  • Speedy deliveries and the price consumers are willing to pay 
  • How the perception of a home has changed forever
  • The growing pains of adopting new technology in retail
  • A look into excess savings and the impact on shopping trends

FOOT TRAFFIC INDEX

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

DC FEATURE OF THE WEEK

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

Sales Statistics by Employee

When the end of the month comes and the numbers begin to get crunched, finding ways to efficiently sort through data is essential.

With the Sales Statistic By Employee tab, you can create a custom report for all your employees in one place to compare and contrast the sales and performance metrics of all of your employees.

FOOT TRAFFIC TRENDS

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

The price of speed

While at one point throughout the year BOPIS and Buy Now Pay Later was the most enticing deal you could offer consumers, speed and faster deliveries are now the hot commodities.
 
Not only is fast delivery a hot commodity, but it can also be the determining factor.
 
A recent study by furniture today found that consumers are willing to pay 1-5% extra for faster delivery on big-ticket items.
 
While a majority of people aren’t willing to pay up to 10% extra, a handful of people in the survey were willing to pay up to 16% extra to get their furniture quicker.
 
Of all the industries, mattress and home furniture were the leading items that consumers were willing to pay more for.
 
At the end of the day, it’s easier said than done to offer more for delivery if you don’t have the item in stock. Regardless, it’s nice to know that people are willing to pay more to get your goods quicker.

The home – reimagined

The pandemic changed the way people look at a lot of things.  From sanitation to shopping online and picking up curbside, a lot of things changed.
 
One of the biggest changes in perception was a byproduct of lockdowns: The way people view a home.
 
A home went from a place where people sleep and shower to a place where a majority of their life was spent for over a year.
 
In 2020, nearly 77% of people took on at least one home improvement project, which is up 68% over 2019.
 
The new way people look at their homes has had a major impact on big-ticket retailers and will continue to drive people into stores for years to come.

Retail vs technology

As consumers begin to expect more from retailers when it comes to a seamless experience between online and physical stores, retailers are forced to rapidly adopt new technologies.
 
And as we all know, adopting new technology is never as easy or seamless as you would expect.
 
A survey by Forester consulting found that 94% of the 250 retail and manufacturing decision-makers surveyed said that they faced significant issues when initializing omnichannel capabilities.
 
Even once your omnichannel is up and running, only 36% of retailers say their inventory can keep up with the growing interest in Buy Online Pick Up In-Store.
 
No matter where you are at in your technology adoption, know you are not alone in the struggles faced along the way.

A look forward

We have reached a time within the year where both analysts and retailers are very optimistic about the future for big-ticket retailers.
 
A recent study found that consumers have put away nearly $5.4 trillion in excess savings. The extra savings combined with summer-weather ramping up has a strong impact on retail foot traffic.
 
Along with excess savings and the summer breeze, school re-openings across the country will leave parents across the country with extra time on their hands for the first time in over a year.

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May 24, 2021

Retail Traffic Trends #27: Sales techniques backed by data

This week we discuss the importance of the salesperson and sales techniques to make the most out of every opportunity.

WHAT’S IN STORE THIS WEEK?

  • Simple and effective sales techniques
  • How to choose the best music for your stores
  • Thinking outside of the box with unique collaborations.
  • The follow-up barrier

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:

Search reimagined

With our newly enhanced global search, finding a customer has never been easier.

You can now search customers by their name, prior sales order, or by specific comments made on the customer.

Trying to find all customers who were interesting in outside furniture or a specific material? Simply search “patio furniture” and Doorcounts will do the rest.

FOOT TRAFFIC TRENDS

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

Sales techniques by the data

Through everything, salespeople have proven that they are irreplaceable when it comes to big-ticket items.
 
When it comes to making sales, research has shown that certain techniques have higher conversion in today’s retail landscape.
 
A recent study found that you are 100x more likely to successfully contact a lead if you respond within 5 minutes and 21x more likely to qualify that lead.
 
Timing matters. In fact, the time at which you respond has a major impact on the response rate.
 
Studies show that between 8 am and 9 am and then again between 4 pm and 5 pm are the best times to call a prospect.
 
Have you ever wondered why we send our newsletter on a Wednesday? As it turns out, Monday and Tuesday have the lowest open rates of the week. It’s never a bad idea to wait until Wednesday to send an important message.

Follow up

It’s no surprise that following up with customers is becoming increasingly important as trips to the store are still near and far for many shoppers.
 
A recent study found that only 2% of sales happen during a first meeting. The study also found that 80% of non-routine sales occur only after at least five follow-ups.
 
Although it’s proven that sales are made after multiple follows ups, nearly 44% of salespeople give up after hearing one “no”.
 
As we’ve said above, timing is everything. 
 
Catching the customer at the right time and following up while you are fresh in mind is just as important as saying hello with a smile.

How to find and keep top talent

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

This week the Dos Marcos Podcast discusses finding the right people to hire and how to retain them to be an asset for your business for years to come.
 
Listen to Podcast HERE

Think outside the box

These days, companies will go to crazy lengths to think of new ways to draw in customers.
 
Although Brands collaborating is nothing new, companies are thinking outside the box to find unique collaborations.
 
Crocs recently collaborated with Hidden Valley Ranch to create a ranch-inspired shoe.
 
Shoes and a dipping sauce are almost unique as Dunkin Donuts collaborating with DTC paint brand Backdrop to bring its signature colors to life.
 
No matter what industry you are in, there are endless potential collaborations when you think outside the box. 

The sound of music

What do customers first hear when they enter your store?
 
As it turns out, the music you play or the sound customers hear first has a major impact on their customer experience.
 
Ideally, the sounds or playlists you use should match the personaof your ideal shopper.
 
For example, when a wine store changed its music from the top 100 to classical music, their customers began to buy more expensive and sophisticated wine.
 
Not surprisingly, volume matters just as much as the selection.  A study found that the louder your music is, the less amount of time people spend in your store.
 
When in doubt, you can seldom go wrong with Jack Johnson.

NOTEWORTHY NEWS

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Retail podcasts: Stay on top of trends and current events in retail with these retail podcasts.
 
Automation simplified: Why retail and restaurant automation is taking off.

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May 17, 2021

Retail Traffic Trends #26

From new retail guidelines to the effects of the booming real estate market, this week we explore everything new in the retail world.

WHAT’S IN STORE THIS WEEK?

  • The effect new technology has on training employees
  • How the new CDC guidelines will affect retail
  • Furniture trends that will outlive the pandemic
  • Doorcounts chat

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 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.

Doorcounts chat

A couple of weeks ago we released our biggest update to Doorcounts yet.

One of the features that was added, the chat feature, quickly became a hit amongst users.

The chat feature opened our eyes to the need for more human interaction between user and software.

We had a great time chatting with users about everything from the weather, to our favorite sports teams, to finding a feature on the new interface.

The chat feature will be added back shortly after a few adjustments are made so that we can disable the feature for companies who do not wish to have it.

We look forward to talking to you all again soon!

Retail breakthrough

After the CDC announced the new mask guidelines that allow for fully masked individuals to return to normal activities without a mask, retailers across the country are deciding whether or not they will update their store guidelines.
 
Although the CDC advises that fully vaccinated individuals no longer need to wear masks under certain circumstances, the final decision on masks is still up to the store owners.
 
Retailers such as Trader Joes have already updated their guidelines to allow fully vaccinated no longer need a mask. Other retailers such as Target, Macy’s, Kroger, Publix, and Home Depot still require masks.

Labor imbalance

As the retail industry continues to evolve, e-commerce and technology have played a major role in a majority of the changes.
 
With new technologies continue to emerge, retailers across multiple industries are facing the issue of their employees lacking the skills to address the new technological needs of retail.
 
Although the US job openings reached a record high in March, retail jobs are not the same as they were just a year ago.
 
Retailers are beginning to retrain their workers to equip them with more technological skills rather than selling techniques.

Furniture trends

As home makeovers and remote working became more and more common throughout the pandemic, the furniture industry felt the rush first-hand.
 
The real question is whether or not this rush has seen its final days or is this just the beginning?
 
Although more people are getting vaccinated, it seems like working from home may be a trend that continues well after the pandemic.
 
A recent study found that 83% of employers now say the shift to remote work has been successful. 
 
The longer people work from home, the more improvements they will make to their home office and their house as a whole.
 
Along with people working remotely for a prolonged time, the number of single-person homes continues to rise in 2021. More single homes mean fewer people living together and a higher demand for furniture.
 
Overall, it seems like the furniture rush is nowhere near its end.

NOTEWORTHY NEWS

Home retail: Has the home furnishing rush of the pandemic seen its final days?
 
Shop small, shop local: How a simple message can go a long way for independent retailers.
 
Digital price tags: Nationwide Marketing Group and Pricer announce a preferred partner program for digital price tags.
 
No-touch: Tech trends that are destined to outlive the pandemic.

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