Data Used to Build Culture

Large retailers are struggling with the challenges of declining brick-and-mortar traffic. Data Meaning used the latest mobile and business intelligence (BI) technologies to help a large retailer to quantify current foot traffic and maximize sales opportunities.

The Challenge of Finding Growth

A large retailer with a presence in the United States and Canada was looking for a solution to overcome their declining sales. Most of their customers were moving to online and digital outlets. The retailer also lacked the ability to track key performance indicators (KPIs) of the current foot traffic in their brick-and-mortar stores. So there was no way for them to create a comprehensive strategy for future growth.

Conducting a Triage of the Problem

Data meaning started with clarifying the problem. From the research, it was evident that the retailer had certain control over their sales volume. They could concentrate on increasing units per transaction (UPT), the number of items per transaction, and average transaction size (ATS), the value of each transaction.

Quantifying Practical Solutions

In order to increase sales volume, Data Meaning started with setting up “smart” devices in the stores to collect real-time foot traffic data. The next step was to integrate the foot traffic data with the point-of-sale (POS) data to figure out conversion rates. The rates were used to develop a KPI to calculate sales potential. Now a store could determine in real-time how much they could sell to the customers in the store.

The conversion rate worked as a crucial KPI for the retailer’s ecosystem. Data Meaning created a mobile app that the sales associates could use to view the KPIs on a dashboard. The app was distributed to 15,000 mobile devices around the company.

Armed with the new technology and data points, sales associates were able to approach their tasks with more effectiveness and modify behaviors to increase sales volumes with their current customers.

Actionable BI Produced Results

Data Meaning’s research, development, and implementation led to a solution that gave the retailer access to actionable BI. Now everyone in the organization has a decision-management framework that helps create realistic sales targets and ensure future growth.

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