Tracking footfall provides an accurate indicator of the trading potential of the location, and enables restaurant/store performance to be better understood in terms whether covers/sales are being maximised.
The hospitality sector – encompassing the range of food and beverage propositions – is undergoing unprecedented growth, the most widely recognised being the continued expansion of the coffee shop.Many operators are recording increases in sales and their networks are growing rapidly, however, such growth also presents a challenge for operators due to the inevitable increase in competition for customers. In addition, it is the only sector that relies wholly on customers visiting bricks and mortar destinations to drive sales.
These two factors make understanding trends in activity in retail destinations – and comparing them with covers and/or sales - critical for understanding whether current trading performance is being maximised, and the extent to which additional potential exists. Springboard’s 24/7 monitoring means that benchmarking data is also available by each hour of the day so that the evaluation of potential can be undertaken at a sufficiently granular level to be able to better pinpoint specific areas of vulnerability and opportunities for enhancement of performance.
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