Experian FootFall launches site performance measurement software for the retail industry

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At a time when retailers are stepping up their game, Site Analytics has been developed to give store managers the ability to analyse multiple metrics such as footfall count, sales figures, staff rotas, queue counting, and overall costs metrics to provide a clearer focus on priorities for profit maximisation. The software alerts managers when data (such as footfall or sales figures) falls outside of pre-defined levels and enables analysis at local, regional and national levels.

Examples of typical queries which Site Analytics can provide answers to include:

• How is the staff-to-visitor ratio affecting sales for a particular floor?
• As costs rise for a particular department, is the same happening for sales and average transaction values?
• Is this sales performance typical for a floor, department or retail cluster in our business, if not what is the financial implication and how can we rectify it?
• How does the average transaction value fluctuate as site traffic rises and at what point does the cost of adding more labour outweigh the financial gain?
• What is the pattern of queue waiting times throughout the day and how does this impact conversion rates?

Key to Site Analytics is the ability for retailers to forecast performance in their stores.  By using historical data to predict what could happen tomorrow, next week or next month, retailers can more accurately plan operational aspects of the store such as staffing, sales and promotions, inventory levels and even store design.  

Steve Richardson, Regional Director for Experian FootFall, said: “Retailers today are constantly searching for actionable intelligence to optimise performance, replicate success and eliminate pain points.  Site Analytics gives store and shopping centre managers more information than ever, all with the clear goal of driving profits, and can investigate any site space to discover hidden potential.

“At a micro-level, this means a retailer can determine the conversion rate of a particular floor or department, if needed as well as cluster entire stores by category, comparing performance to a similar cluster of stores elsewhere in the chain.

“The possibilities are truly endless in terms of the amount of data and focus of analysis now available to the industry.”

Supported by and built on a Microsoft software platform, Site Analytics allows clients to seamlessly access data anytime, from virtually any location, securely.