NEW YORK – January 14, 2008 – This week, more than 17,000 people will descend on the annual NRF convention digesting fresh holiday sales reports. Many retailers will be eager to see how well they have really performed, and as a result will be analyzing traffic counts alongside other more traditional metrics. Experian FootFall, a global provider of information and services related to traffic counting recently has fielded higher than normal inquiries from retailers looking to improve operational efficiencies and maximize conversion rates.
“We have found that retailers who are focused on improving operational efficiencies actively use traffic counting as a means to monitor changes in conversion rates,” said David Smyth, vice president of sales and operations for Experian FootFall. “It is a tool that should be used during all economic cycles because it helps retailers understand the factors impacting in-store activity, allowing them to maximize conversion and ultimately hit their profit targets.”
Experian FootFall provides retailers with traffic-counting data in an easy-to-use, actionable format that enables them to improve their business by making operational and strategic improvements such as:
By applying these operational changes on a by-store, regional and chain-wide basis, even small operational adjustments can roll up to material sales and profit improvements for a retailer’s overall business.
Smyth continued, “Retailers utilize a number of techniques to drive traffic into their stores, yet many are not maximizing conversion as they do not have an accurate account of how many people actually walked through the door. Without foot traffic information retailers can’t assess the missed sales opportunities and make the necessary adjustments to increase profit margins. The key to improving retail potential regardless of conditions is to stimulate purchases from the people who walk into your store, but don’t spend any money. We find that oftentimes retailers generate enough traffic into their stores but miss the opportunity to convert shoppers into purchasers, and that’s the true enemy of profitability.”
Experian FootFall is the traffic counting division of Experian Group Ltd. As the global leader in the provision of traffic counting systems, Experian FootFall helps retailers and retail property owners better understand how their businesses are performing at an operational, as well as strategic level. By combining traffic information with key retail metrics such as the number of transactions or labor hours, Experian FootFall is able to help their clients understand their market opportunity by measuring customer numbers; identify centers and outlets which have the potential to increase traffic and convert more shoppers into customers thereby maximizing their retail potential. Experian FootFall continues to use ‘open’ software standards to ensure that systems can be developed as non-proprietary standalone solutions, or can be highly integrated with business management software, point of sale data and staffing systems where applicable.
For more information about the Experian FootFall, please visit www.footfall.com.
Experian is a global leader in providing information, analytical and marketing services to organizations and consumers to help manage the risk and reward of commercial and financial decisions. Combining its unique information tools and deep understanding of individuals, markets and economies, Experian partners with organizations around the world to establish and strengthen customer relationships and provide their businesses with competitive advantage. For consumers, Experian delivers critical information that enables them to make financial and purchasing decisions with greater control and confidence. Clients include organizations from financial services, retail and catalog, telecommunications, utilities, media, insurance, automotive, leisure, e-commerce, manufacturing, property and government sectors.
Experian Group Limited is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. It has corporate headquarters in Dublin, Ireland, and operational headquarters in Costa Mesa, Calif., and Nottingham, UK. Experian employs approximately 15,500 people in 36 countries worldwide, supporting clients in more than 65 countries. Annual sales are in excess of $3.8 billion.
For more information, visit the Group’s Web site on www.experiangroup.com.
Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein may be the trademarks of their respective owners.
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