Ways to Increase Conversions in Your Retail Store
“I am witnessing a heavy footfall in my retail store but the increase in sales is not proportional to the traffic!”
Your business is most probably hit with the “Low-conversion rate syndrome.”
Stay with us. We have a list of ways to increase conversions in your retail store.
Take a look.
Figure out why people ‘skip’ buying
Before we address your problem to increase the conversion rates, we need to establish the cause of low conversion rates. You will need to observe, analyze, and take feedback from the inbound prospects to understand why they did not make a purchase. There can be numerous reasons for that. For example, your store might lack in personal attention and assistance to the prospects, or your store might be displaying the merchandize in a wrong location or with too many options.
As a retail store owner/manager, you need to observe people as soon as they walk into the store, plot their movement and actions, and infer from their behavior.
Adopt a Smart Retail Conversion Solution!
It makes perfect sense for your retail business to be driven by Data Analytics and insights rather than assumptions. A smart Customer Engagement Solution driven by data can reveal the most crucial points about your customers’ purchase behavior. For example, ES Engage by Exchange Solutions will;
• Increase your conversion rate, purchase frequency and order value
• Help optimize your promotional budget
• Reveal insights into the customer behavior inside your store
ES Engage is a real-time Omni-channel retail conversion solution that employs machine learning and predictive analytics to boost your sales! Thus, it might be time for you to integrate your retail store with such a reliable solution.
Align adequate staff with conversion targets
Many retail stores hire staff according to the sales and not the traffic. This often turns out to be the reason for lower sales conversion rates. If most of the inbound prospects are not assisted by the staff, they will feel unengaged and you will lose out on sale. Driving sales is, thus, a cumulative effort of the entire crew inside the store.
Secondly, you must give conversion targets to the staff. But, before that, explain to them the math behind the term ‘Conversion Rate.’ Incentivize them to drive their efforts high and you’ll foster a highly competent retail staff that generates profit for you.
Implement the above strategy for your retail store and enhance your sales conversion rate immediately.