November – How to make your Footfall REALLY count!
The use of key performance indicators (KPIs) such as conversion to spend, annual frequency of visit and average spend as valuable mechanisms to get behind the crude shopper data to focus on real shopper behaviour in our view is therefore essential.
To make these more meaningful, we analyse a given centre’s KPIs against our Bbenchmark™ which is based on over 120,000 shopper interviews. This allows Shopping Centre Managers to identify and grasp the opportunities that exist in their Centres.
We’ve developed a new tool we call CashTrak™ which for the first time allows you to understand the sales impact of footfall, and hence make it really count.
It will be a hectic November and December as we conduct over 5,000 face to face shopper interviews in shopping centres for Land Securities where we will in the main measure their key performance indicators (KPIs) and make comparisons with their performance last year. Christmas as we know is a critical time for retailers and therefore shopping centres understanding consumer behaviour and measuring consumer satisfaction at this time is an absolute must. With questions about the UK economy on every newspaper’s front page; there is no doubt that this information is going to be even more eagerly wanted than usual!