Compare branch performance with footfall activity to evaluate the potential of locations to support customer demand, and to evaluate the success of changes in the branch proposition.
The banking sector is in the process of evolving its proposition to meet the current and emerging needs of its customers, however, a constant feature is that much of its success remains dependent on a robust branch network.
Despite the ever growing importance of digital transactions, the fact that 85% of retail spending still occurs within stores means that much of the revenue of the retail banking sector will continue to be delivered by bricks and mortar branches.Tracking footfall in retail destinations enables the success of branches in attracting customers to be quantified, and opportunities at both network and branch levels to be evaluated.
Understanding movements in footfall in the external environment can deliver real, quantifiable value, for example more effective staff resourcing and scheduling within branch that improves queue times; better understanding of the impact of promotions and campaigns; and the success of a branch refit/remodelling
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