Schaumburg, Ill., Jan. 12, 2009 — With a record number of retailers filing for bankruptcy protection, keeping the shop doors open in today’s economy requires a sound strategy built on a foundation of detailed, accurate and usable data.
Charlotte Russe, a retailer offering clothing and accessories to young, fashion-conscious women in their teens and early 20s, selected Experian® FootFall® to measure, track and analyze store traffic patterns and customer conversion rates. The data also can be used to analyze marketing campaign success and determine labor and staffing needs.
Like many retailers, Charlotte Russe looked at daily sales reports but didn’t know how many customers were coming through their doors or where they browsed once inside. They didn’t have a clear picture of the missed opportunity to convert a browser to a customer.
“We began by establishing foot-traffic data for a sampling of Charlotte Russe stores and overlaid store revenues to calculate traffic-to-sales conversion rates for those locations,” said Rick Erwin, senior vice president and general manager for Experian. “We found specific stores, including some locations with very high revenues, that have substantial opportunity for increased traffic conversion rates.”
The data and analysis showed how many people entered the stores throughout various times during the day and if they made a purchase.
“We’re using this information to adjust merchandising and staffing to increase conversion that will lead to increased profits,” said Traci Lawson, director of service solutions for Charlotte Russe. “Experian FootFall offers flexibility and real-time reporting, something that was lacking in the other providers we considered.”
The chain will align resources to increase conversion rates across the brand. “With more than 500 stores, increasing our conversion rates by only a few percentage points will have significant impact on our profits,” said Lawson.
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 plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Experian has corporate headquarters in Dublin, Ireland, and has operational headquarters in Costa Mesa, Calif., and Nottingham, UK. The Group employs approximately 15,500 people in 38 countries worldwide, supporting clients in more than 65 countries around the world. Continuing sales for the year ended March 31, 2008, were in excess of $4 billion.
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