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Why should independent and small retailers count people?

If you own or operate a retail store, you likely find yourself in a morning routine, accumulating your daily dose of anxieties......
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If you own or operate a retail store, or more than one, you likely find yourself in a morning routine, waiting for the coffee to drip, scrolling through the news on your phone, and accumulating your daily dose of anxieties:

  1. Will the economy hold up? Will it crash? Soft land? Grow? Triple backflip?
  2. Will interest rates continue to rise? Why am I so interested in interest rates now?
  3. Oh no, consumer confidence is down; oh wait, but consumer spending was up last month? Do I feel like a glass-half-full or half-empty person today?
  4. What’s the new technology today? AI? Will I have robots as customers soon?
  5. Should I invest in this new technology? Handling AI must be more straightforward than recruiting personnel, right?

While we’re adding a touch of whimsy, these concerns are undeniably real and not confined solely to retailers. In these moments, it’s crucial to return to the basics and remember your fundamental “why.”

Refocus on your “why,” on your customers, and start experimenting.

You probably got into retail because you wanted to get rich wanted to provide something great, maybe unique, for your customers and for your community. You can still do this. Yes, external worries abound, but that’s beyond your sphere of influence. Refocus on your “why,” on your customers, and start experimenting.

Then, to really understand if these experiments are “moving the needle,” you’ve got to look at three things:

1. Traffic
2. Conversion rate
3. Average sale

Regardless of the experiments you do, it should increase one of those three indicators without destroying the others. That, by the way, is the retail equation. Multiply the three indicators and you get your total sales amount. So whatever you do, if your experiments result in either more traffic, increase how many customers buy, or make them buy more, then you are doing something great for them while growing your revenue.
Understanding the relationship between customer experience and conversion rate.

This brings us to the significance of counting the number of people entering your stores. Without this data point, you’re left in the dark about what’s truly effective (or not)!

Like you, and many other entrepreneurs, we didn’t embark on our business journey to get rich. At SMS Storetraffic, we created people counting solutions to provide real value, to empower you, our customers and your team, to provide an even better experience for your clientele and, in turn, achieve greater success. And hey, this way, everyone comes out shining — and we all enjoy a better shopping experience too! 😉

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