Blog Statement

Blog Statement #1: Why should retailers use analytics and what types of data sources are used to collect in-store data?

Retailers should use analytics to track the unobserved behaviors of a customer shopping journey. By tracing the customers movement throughout the stores and where they spend most or less of their time, retailers can improve their conversion rate simply by using analytics. Retailers can collect in-store data from Video Cameras, Wi-Fi and Bluetooth Devices, Guest Wi-Fi, Point-of-Sale Systems, Workforce Management Systems, Promotional Calendars, Payment Cards, Weather, and more to inform retailers of how shoppers engage with their stores. By using analytics retailers can use the information collected to adjust their current approach

Watch this video “Meet Emma”, I guarantee there will be lots of Emma’s coming to your store to meet you!

Part II

1. As the manager of Tavalon Square, based on the analytics results collected the two busiest days of the week in term of traffic are Saturday and Sunday. The top three busiest hours of the day are from 1pm – 4pm. On the busiest days and during our peak hours store managers should align staff to focus on converting more shoppers to increase sale transactions.

2. When comparing conversion rate and average transaction value charts the metric that presents a better opportunity for increasing sales is the conversion rate graph because the average transaction value graph bars are all closely alliged with each other. The hours of 1pm-7pm have the highest opportunity for improvement on the sales floor to drive sales. 3. Based on the graph the best day of the week to improve sales through shopper yield is Saturday. Managers can better align staff according to store traffic as well as focusing on behaviors to increase the conversion rate by mimicking what they do on days where they have high sales

The Fashion Avenue location highest conversion rate is 90.6% and the highest average transaction value is 92.48 both of those numbers are drives from the Skin Care zone.

6. Based on the data provided for the Fashion Avenue floor plan the lowest shopper yield is in fragrance with a total of 34.47. To drive sales on the floor I will align associate to communicate with the customers in and that section to give information about the product and have them offer samples for testing to engage with any customers that walks by the area.

7. Comparing Tavalon report based on how the store perform this week versus last year the traffic of the store grew by 1.9%, sales drop -0.6%, Sales Trxs increase by 1.8%, Return Trxs last year was 24 this week it is 23 which gives a total of -4.2%, the conversion rate is still the same, average transaction value drop to -2.2%, Shopper yield drop to -2.4%, average unit retail decrease to -1.5%, the unit per transaction is still the same.

8. Measuring the success by shopper yield the day that performed the best even with light rain and slightly cold weather was Thursday, October 26 with a value of