ShareLinkedInTwitterFacebook
Subscribe

Retail Analytics

Blix launches Retail Conversion Calculator

Written by Tony Loxton
Feb 1

Calculating your retail conversions – and the associated metrics – can be difficult. With so many variables at play, getting to the bottom of the things that are driving (or hindering) sales is, more often than not, a process that’s fraught with frustration and not a whole lot of certainty. For this reason, we’ve developed a (free!) retail conversion calculator that simplifies this crucial calculation, and equips you with the metrics necessary to optimising your in-store operations and performance.

Simple and quick to use, you can work out conversion rates in seconds.

Our retail conversion calculator takes the stress out of calculating retail conversion and the associated metrics, delivering results in seconds and freeing you up to action the findings. When you’re done, you can download a report of the findings or share your results with colleagues and staff. It’s as easy as that.

Our calculator tallies the metrics critical to bolstering in-store operations to increase retail conversion.

Using Blix’s new tool, you can work out performance metrics like these hypothetical examples:

  • It costs approximately $9.50 in marketing spend to drive a potential customer into one of your stores.

  • Approximately 13% of the people who pass by your stores venture inside.

  • Once people enter your store, the conversion rate to sale is approximately 55%.

  • To achieve the highest sales, each staff member should serve five customers per hour.
  • Your stores generate approximately $10,125.00 in revenue per square metre.
  • Every hour your stores are understaffed equates to approximately $7008.60 in lost sales.

Using insights like the above, you can make data-driven decisions about all operational aspects of your store.

Streamline staffing rostering for maximum conversion, tweak marketing spend and strategy, allocate actual required budget to staff training or marketing campaigns and reduce overheads.

Blix Traffic, our foot traffic analytics tool, enables you to consistently measure all in-store foot traffic and customer engagement metrics to ensure that all aspects of your store performance are facilitating optimal retail conversions.

The result? In-depth insight into your store’s performance and ultimately, the knowledge to increase retail conversions. Learn more about Blix Traffic today.

Calculate now

You might be interested in these