MORE IDEAS FROM How to Translate Foot Traffic Into Digital Sales
Traffic refers to the number of people who comes into your store, including those who walk nearby. It is an important measure of retail success and naturally, .
The types of retail traffic include:
- there is a constant flow of visitors to your store anytime even when you're sleeping
- it provides a targeted reach
- there are little to no geographical limitations
- tracking allows you to spot patterns and refine your marketing strategy
- it takes time to get established online
- there is over-reliance on technology
- changing algorithms mean you can lose your position in search engines
- it costs money to keep getting fresh visitors to your store
How can I use my website for more foot traffic?
- Consider inviting people to buy online and pick-up the item in-store, provide in-store redeemable coupons, and offering in-store exchanges and returns.
What is the best way to track the success of my campaigns?
- You can add codes to flyers, cards, and other promotional materials or ask customers how they found you when they registered online.
How does foot traffic increase sales?
- The more foor traffic you have the greater the opportunity is to increase engagement and sales which help boost revenue.
- it allows businesses to see and interaact with customers personally
- can generate word-of-mouth advertising and repeat customers through recommendation
- enables face-to-face sales
- allows customers to ask questionsdirectly and get immediate answers
- it is dependent on the weather; and
- there are declining brick-and-mortar sales
The holidays are coming, and savvy owners should take this opportunity to draw as much traffic as possible to their sites and — most importantly — convert as much of that traffic as possible to customers while they’re there.
During the holidays, business spikes for nearly everyone, but e-commerce has been growing each year over the brick-and-mortar competition — and the pandemic has only increased this growth. In 2020, retail e-commerce sales skyrocketed, with a 35% year-over-year increase over the 2019 season in the United States.
This is a balancing act. A low price isn’t always ideal, as the product might see a healthy stream of sales without turning any profit. Similarly, when a product has a high price, a retailer may see fewer sales and “price out” more budget-conscious customers, losing market positioning.
Ultimately, every small business will have to do its homework. Retailers have to consider factors like cost of production, consumer trends, revenue goals, and competitor pricing. Even then, setting a price for a product isn’t just pure math (numbers behave in a logical way; humans, not so much).
“A jack of all trades is a master of none, but oftentimes better than a master of one.”
❤️ Brainstash Inc.