Increasing the conversion rate by measuring customer frequency
|Methods & Technologies:||Measuring customer frequency
A key success factor in the highly competitive retail market is making full use of customer potential. ASE studies of retail trade have shown that up to 85% of visitors leave the store without making a purchase. There is an enormous potential in increasing the conversion rate.
The Migros specialist market melectronics decided to apply retail intelligence solutions from ASE. In the initial step, the conversion rate was determined using the ASE high-end measurement system. Then statistical methods were used to identify key criteria influencing the conversion rate.
ASE developed its own visitor forecasts to predict visitor rates four weeks in advance, which was then used as a basis to adapt staff scheduling to meet demand.
Optimising staff scheduling showed success in increasing the conversion rate within weeks. In addition, the branch managers were provided with support in staff scheduling, leading to increased staff efficiency in the store area.
The use of retail intelligence increases turnover, improves the visitor experience and reduces personnel effort!