Real Returns: Conversion Rate and Transaction Increases
The Challenge: A national retail apparel chain set aggressive earnings goals. They hoped to increase overall earnings by improving conversion rates, boosting the number of units per transaction, and raising the average daily transactions in each of their 400 stores.
Our Solution: From our experience, we know that positive change begins on the retail floor. So we helped our client by training their store level associates to comply with a short set of non-negotiable behaviors, all of which were designed to improve in-store performance. Then, high-frequency in-store audits measured compliance and built a set of meaningful, actionable data from which additional opportunities for store-by-store improvement could be identified.
Results of our program:
- Credit card solicitations increased from 62.2% to 76.2% over an 18-month periodâan increase that resulted in almost 1 million dollars of additional revenue storewide.
- Suggestive selling increased from 54.1% to 81.4% during the same 18-moth periodâan improvement that alone translated into an increase of more than 8 million dollars of incremental store sales.
How We Did It: We put over 25 years of time-tested, proven retail experience to work, formulating a customized implementation program that generated demonstrable return on investment. By using specific, measurable behaviors, along with highly consistent in-store audits that replicated realistic customer scenarios, we helped our client to reach every one of their aggressive sales goals.
