Advanced Traffic Analysis Yields Profitable Workforce Insights

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Advanced Traffic Analysis Yields Profitable

Workforce Insights

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Panelists

Vince Jackson Senior Retail Strategist

Workforce Insights

Debbie Hauss Editor-in-Chief Retail TouchPoints

MODERATOR

Virginia Balcom VP Marketing and Product

Management LightHaus

Trends in Workforce Management

•  Fully Integrated/Automated Retail WFM Pla7orm and Dashboards

•  Micro-‐Level Visibility – Site specific real-‐Eme customer data and trends

•  Aligning Staff to Customer Demand/Peak Traffic – PrioriEzing the customer

•  Customer Engagement Techniques – Defined steps to close the sale

•  AnalyEcs– StandardizaEon and prioriEzaEon of performance metrics

•  Task Management – Balancing acEviEes to budgeted hours

•  Mobility – Convenient and Emely delivery of Integrated applicaEons

•  Best PracEces – People, Processes, and Technology

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Tools Retailers are using to improve Customer Service and Store Opera7ons

Trends in Conversion Improvement

•  Dynamic ForecasEng – IntegraEng traffic and conversion results as a labor driver

•  Customer Engagement Labor Standards – Drives consistent Customer Experience

•  Mobility – Real Eme conversion results (red, green, yellow)

•  Customer Engagement Techniques – OpEmizaEon of In-‐Store Behaviors

•  Customer Queue length and wait Eme/abandonment data – POS experience

•  Customer Tracker/Heat Map/Dwell Time – Electronic tracking of customer path

•  FiYng Room Conversion – Analysis of one on one service trends

•  Conversion Results -‐ Advanced metrics by Associate, Department, Store, and RE Type

•  Normalized Sales Analysis – Compares Traffic, Conversion, and Ave Ticket Performance

•  Best PracEce Process Improvements – Redeploys labor to customer service

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Significant move to new and improved WFM applica7ons and tools

Conversion rate is a measure of sales performance, given the traffic opportunity presented

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•  IdenEfy best pracEces for staff engagement, incenEves, training, coaching, etc. so as to improve customer saEsfacEon and increase conversion rates

•  Correlate staff behaviors to sales performance

•  Provide managers with acEonable, individual associate performance informaEon, to commend or improve associates customer engagement skills

•  IdenEfies elite team members as examples of exemplary role models for customer service team members

•  Provide objecEve performance informaEon to facilitate staff evaluaEons and “fit” of associate skills to job requirements

•  Ability to set associate specific and store specific performance goals

Conversion Opportunity

Customer Engagement Techniques – OpEmizaEon of In-‐Store Behaviors

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Leverage integrated WFM system to insure the right person is scheduled at the right place and Eme to give consistent customer engagement based on customer traffic and Customer experience requirements using engagement labor standards


Align Staffing to Customer Demand/Peak Traffic Periods

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Conversion ReporEng by Associate – Example – Management reports measure and compare store performance, evaluate revenue/cost trade-‐offs, and proacEvely manage, measure, and rank associate performance

•  Report combines Eme and adendance data, pos data, and traffic counter data

•  Performance can be measured as Conversion by Associate or Sales Dollars per Shopper

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Arnold, Candice

Stanley, Melody

Perry, Delana Jameson, Laura

Strong, Ammy Egger, Mary Ulrie, Kerry Zeller, Charolete

Sales Dollars per Shopper

Conversion Rate Customers per Hour


Provide Performance Management Metrics/Tools


5%+ sales gain 100%+ profit gain

1% Conversion Rate Improvement

Example: Retailer with 20% Conversion rate, $3 billion in sales and

$60 million in profit

RETAIL EQUATION:

Store Traffic x Conversion x UPTs x Avg. Retail = Store Sales

Financial Benefits

Advanced Traffic Analysis Yields Profitable Workforce Insights

Real World Examples

Virginia Balcom LightHaus

Are they focusing on customer facing activities when the store is busiest?

Using Advanced Traffic to Improve Customer Service & Conversion – Two Key Questions

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Are there the right number of associates in the store, with right skills mix to help customers purchase?

Measure •  How many customers enter/exit the

store •  Where they go in the store •  Where do customer go in the store •  Where and what products and

categories do they browse •  5 minute intervals •  Audited for accuracy

Report •  Conversion – store, product, category,

promotion, locations Manage

•  Improve store operations, customer service, marketing & merchandising effectiveness to increase conversion

LightHaus Visual Customer Intelligence

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In-Store SpotLights

Entrance SpotLight

Improving Operations with Peer Group Insights

PEER GROUP: Northern, Small, Mall Stores – October 2012

Drilling Down with Shopper to Associate Ratio

Tools for Store Managers

Another Tool for Managers – Tracking Golden Hours

Insights: Optimizing Staff by Department

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Q&A // Submit Your Questions

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Q&A

Vince Jackson Senior Retail Strategist

Workforce Insights

Virginia Balcom VP Marketing and Product

Management LightHaus

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Advanced Traffic Analysis Yields Profitable Workforce Insights

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