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Has anyone else had a big drop off in business since late January ?

Discussion in 'General Business Forum' started by Justin Smith, Feb 11, 2019.

  1. The Byre

    The Byre UKBF Ace Free Member

    9,044 3,540
    There's an infrared beam at every shop door and the entry to every shopping mall or centre and the beam-breaks are counted and divided by two - simples!
     
    Posted: Apr 12, 2019 By: The Byre Member since: Aug 13, 2013
  2. Gordon - Commercial Finance

    Gordon - Commercial Finance UKBF Ace Free Member

    1,606 442
    Important to measure footfall so that you can understand conversion rates. When I worked in retail as a youngster I got to see in the office a big LCD display showing a count of customers in the door for the day, and next to it a feed from the till which showed how many of those browsers were converted to purchases.
    The store manager used to just sit and stare at it all day.
     
    Posted: Apr 12, 2019 By: Gordon - Commercial Finance Member since: Jun 26, 2017
  3. WaveJumper

    WaveJumper UKBF Enthusiast Free Member

    564 101
    The two largest providers / collectors of footfall data are Experian Footfall and Springboard not only do they collect data from probably every shopping centre worth its salt within the UK they also (Springboard in particular) have contracts with many councils across the country and as such monitor their highstreets.

    Along side this between them they are collecting data from almost all your most well known retailers on the high street, so it’s quite easy for them to have a good feel for what trends there maybe and obviously the retailers are comparing their own data to the national picture.

    Like everything you can read whatever you like into numbers, but as a retailer if your currently running for example -8% on the month and the national data is running at -4% or perhaps more worrying the local data is +1% you might I suggest be wanting to look closely at what you are doing.

    Your right about spend, retailers will not only be looking at footfall in their stores / shops but also conversation rates, average spend per customer. So yes footfall could be down, average spend could be up, good news for some.

    At the end of the day your well known retailers will want to be in high footfall locations, why, more footfall the chance of more customers, more spend, you will also find certain retailers come to towns or centres in groups, Footlocker will come if they are near JD Sports, hence why you might ask yourself why do some centres and high streets all look the same, these retailers will all play off each other.

    Big brother is watching: I could also mention the collection of car park data, its not difficult to know how many cars are coming and going in car parks, and then if you think hey they also have ANPR (automatic number plate recognition) ….. They know where you have come from too, a great marketing tool?
     
    Posted: Apr 12, 2019 By: WaveJumper Member since: Aug 26, 2013
  4. WaveJumper

    WaveJumper UKBF Enthusiast Free Member

    564 101
    In the past I have known head offices to ring my team and actual ask if their unit had opened and at what time, why oh we don't seem to have had any footfall from our unit for an hour. a bit embarrassing for a local store manger who was late in again.
     
    Posted: Apr 12, 2019 By: WaveJumper Member since: Aug 26, 2013
  5. Noah

    Noah UKBF Ace Free Member

    1,206 300
    Oh, come on! Eggstravagant, shurely!

    Missed a sitter.
     
    Posted: Apr 13, 2019 By: Noah Member since: Sep 1, 2009
  6. Newchodge

    Newchodge UKBF Big Shot Free Member

    12,753 3,323
    Doh!
     
    Posted: Apr 13, 2019 By: Newchodge Member since: Nov 8, 2012