Cross Store Performance analysis is integral for the success of a retail franchisee. There are several parameters that need to be considered while evaluating the success of one store against the other.
There are several factors that can be measured and reviewed, for instance, how a particular location succeeds in engaging and retaining customers. Similar efforts can be made in the stores that lack in customer engagement.
Retailers can track how visual merchandising, store level staffing and store layout affect shopper engagement& accordingly rethink their in-store sales strategy.
With RadioLocus you will receive a comprehensive understanding of key insights through advanced data visualization which will help in measurable performance indicators across stores for comparative analysis.
This would help measure multiple stores performance understanding the total number of visitors across stores. Cross Store Analysis Of Customer Frequency, Dwell Time, Repeat Visitors, Visitor Engagement etc is possible. Thus giving you a holistic idea of which store is excelling and which isn’t.
One can even track the new vs. loyal (returning) customers. New customers can be enticed with vouchers for their next visit, returning customers can be given a sneak peek during the EOSS season.
Based on repeat customers you can evaluate the success of the campaigns and whether it’s attracting the existing loyal customers or new ones. And if it’s the new ones, then what is the customer retention like over a period of time.
You can gauge what time during the day consumers prefers to visit the most & increase your sales staff accordingly. You can analyze how events across locations influence consumer behavior and which location is prone to aversion towards events & the locations where engagement activities are welcome. By trying different on ground strategies at different stores, retailers can track factors that influence consumers to stay longer in the store.