Canadian Retailer - Holiday 2016 - 9
PARTNER MESSAGE HEADCOUNT
Store Traffic is down-what are
retailers doing about it?
BY MARK RYSKI, Founder and CEO of HeadCount
BY any measure, empirical or anecdotal, the number of people
visiting retail stores is down. There are plenty of theories about
why: it's the mass movement of shoppers to online; it's changing
consumer preferences; it's the weather; it's those pesky, hard-tofigure-out millennials. It's a combination of all of these things.
As someone who has studied brick-and-mortar store traffic
trends for more than 20 years, I know it's not unusual to see
year-over-year store traffic declines of 5 per cent, 10 per cent
and even 20 per cent or more. When you put this in absolute
terms, it can be startling.
It's even more concerning for retailers that don't have traffic
count data to analyze, because without data, they are literally
flying blind. Or worse, they use sales transaction counts as a
proxy for store traffic, so they think they know what their store
traffic is when they actually do not.
There is a profound difference between transaction counts and
traffic counts. Using transaction counts as a proxy for store traffic will lead to wrong conclusions, bad decisions and poor results.
All retailers know that store traffic and store
sales are connected. But store traffic is only one
piece of the retail sales puzzle. And with the proper data and analytic tools, there's a lot retailers can
do to improve results despite lower store traffic.
To learn more, read 5 Things Retailers Need to
Do to Thrive in a Declining Store Traffic World',
If your store traffic is down and you'd like to find
out what to do about it-or you are curious about
how much more you could be doing with the traffic
you do get, drop us a line at email@example.com.
We'd be delighted to talk to you.
THE LOSS PREVENTION ISSUE | CANADIAN RETAILER