Footfall, attraction and conversion; a retail empirical generalisation

Footfall, attraction and conversion; a retail empirical generalisation
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客流量、吸引力和转化率;

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发表时间:
2017
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通讯作者:
C. Graham
C. Graham
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作者:
C. Graham

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零售业绩的三个关键指标通常被认为是“位置,位置,位置”。然而,这种概括,像许多其他文献中,是没有实际用途的基础经验证据。我们报告了对两类购物行为的大量观察的复制,涉及八个品牌,在四个地点类型和两个国家竞争。我们的目标是确定关键零售指标之间可预测的行为规范;客流密度,购物者吸引力和购物者转换。这种基于证据的关系,经验的概括,然后意味着一个重要的数字是客流量,暂时量化零售商的口头禅。我们的重复实验揭示了令人惊讶的系统性差异。尽管在多个条件(基本客流量,时间,品牌,交易地点,临街)方面存在很大差异,但每个竞争对手的吸引率仍然接近4%,平均转化率为43%。吸引力模式符合著名的双重危险定律(McPhee,1963; Escherberg,Goodhardt & Barwise,1990),例如,较高的品牌份额吸引更多的购物者进入商店。《双重危险》在转化率上并不那么明显。因此,结果表明,客流量和零售销售之间的关系,可以有效地应用在广泛的情况下,类似法律。
The three critical measures of retail performance are often suggested to be “location, location, location”. However this generalisation, like many others in the literature, is of little practical use without underpinning empirical evidence. We report replications from mass observations of shopping behaviour in two categories, covering eight brands, competing in four location types and two countries. Our aim was to identify predictable behavioural norms between the key retail metrics; footfall density, shopper attraction and shopper conversion. Such evidence-based relationships, empirical generalisations, would then imply that the one number that matters is footfall, tentatively quantifying the retailers’ mantra. Our replications revealed surprising systematic regularities. Despite great differences in multiple conditions (base footfall, timings, brands, trading locations, frontage) attraction rates remained close to 4% for each competing outlet with an average conversion rate of 43%. Attraction patterns conformed to the well-known Law of Double Jeopardy (McPhee, 1963; Ehrenberg, Goodhardt & Barwise, 1990), such that higher share brands attracted slightly more shoppers into store. Double Jeopardy was not so clear in the conversion ratio. Results therefore suggest a law-like relationship between footfall and retail sales that can be usefully applied in a wide range of circumstances.