Springboard data provides invaluable understanding of department store performance alongside customer movements.
Springboard have been working in partnership with Fenwick since August 2017. The team at Fenwick wanted to encourage a more strategic brand strategy through ensuring the right brands were in the correct locations in store, each brand is enticing customers into store through their window displays and then on to each floor and converting sales.
Fenwick were keen to ensure the data Springboard provided would mean an uplift in sales / income, or that the savings in wasted expenditure would provide ROI on the system.
Springboard’s solution was to measure the visitors walking past each of the stores as well as at each entrance, lift and escalator. Analysing these data points along with store sales, Springboard provides insights to Fenwick on their store and portfolio performance to inform their strategic goals.
The Springboard solution:
- Placing footfall counters at every decision point throughout the stores reporting in hourly increments
- Sales feeds from each department
- Springboard would monitor visitors and sales per department to determine the average transaction value, conversion rate and popularity of the department
- Using exterior cameras, Springboard were to also measure capture rate (the ratio of people walking past the store, to those entering), which helped to determine the popularity of window displays and retail trends and the relationship between the potential of the store location to the performance of the store itself
- Providing daily, weekly and monthly insights into store performance
The data provided invaluable understanding of department performance in both ATV and conversion alongside customer movements.
Using this data enabled Fenwick to re-position brands to ensure it drove the best customer flow and re-purpose window space to key brands driving income into the store. The data also helped with staff planning and utilisation, ensuring the right staff were in the right depts at the correct saw an uplift in sales.