The latest industry reports are out for January and the traffic declines in brick and mortar continue and in some cases are accelerating.  RetailNext reported traffic declines of 9.3% over last year in January which was an improvement on the -13.4% decline in December.  Traffic declines are the new norm in brick and mortar retail.  So what should a retailer do?

 

Focus on the things the stores can control:  Average Dollars per Transaction and Conversion

 

 

ADT – This is all about building the basket with every customer by finding solutions to all their needs.  This begins with great scheduling but is really all about quality of selling skills.  Training is the big lever here but it takes time to have a real impact on the results.

 

Conversion – This is all about great scheduling and compelling offers.  Having the right people (number and quality) at the right time.  We know that when you put an associate in front of a customer, you convert at a much higher rate.  Presenting a compelling offer to a customer to get something in their hand is a great way to convert a potential non-buyer.  Then you use your selling skills to build the basket.

 

What looks to be certain is that traffic declines are here to stay in retail brick and mortar.  Retailers must leverage what they control to get back to last years results.  The keys are ADT and conversion.