Description

Mark Ryski is the Founder and CEO of HeadCount, a pioneering company in store traffic and conversion analytics since 1994. He is the author of two influential books on the subject: When Retail Customers Count, the first written on the topic, and CONVERSION: The Last Great Retail Metric, which has become the industry’s definitive guide. As the leading expert in the field, Mark’s insights have been featured in Forbes, Wall Street Journal, Retail Dive, Chain Store Age, Retail Insider, CBC, and The Globe & Mail. He is also a featured BrainTrust contributor on RetailWire – retailing’s premier online discussion forum. Today, HeadCount operates in 24 countries, helping retailers improve their in-store conversion rates and extract valuable business insights from traffic data. His vision is to enhance retail performance for shareholders, employees, and shoppers, establishing him as one of the most recognized experts in retail traffic.

In this episode, Wendi and Mark discuss:

• Improving retail performance through traffic and conversion data
• Aligning staffing with traffic patterns for operational efficiency
• Revolutionizing retail with AI-driven SKU-level conversion analysis
• Importance of staff engagement in boosting conversion rates
• The pandemic's impact on store traffic and potential for conversion improvements

Key Takeaways:

• A major focus is placed on aligning staffing schedules with traffic patterns, emphasizing that retailers often overlook crucial insights from traffic counters.
• Prioritizing insights over raw data reveals the importance of empowering frontline staff with actionable information, driving culture change beyond mere technology upgrades.
• AI's role in revolutionizing retail shines through its ability to provide SKU-level conversion analysis, optimizing localized assortments and operational decisions.
• Despite pandemic challenges, store traffic has rebounded, highlighting the potential to improve profitability by just a 1% increase in conversion rates.
• The conversation shifts to emphasize optimizing conversion from existing visitors as a more effective strategy than simply driving more traffic.

“We want to create a wonderful, personalized shopping experience and remove all barriers and friction points within the store. What many fail to appreciate is that conversion rates can show you, right down to the hour—literally the hour of the day—when these things are occurring. If you know what time of day and exactly where they're happening, you're in a position to do something about it: improve those friction points, minimize them, and boost conversion rates.” 

- Mark Ryski

Connect with Mark Ryski:

Website: https://headcount.com/ 

LinkedIn: https://www.linkedin.com/in/mark-ryski-8826601/ 

Email: mark.ryski@headcount.com 

Mark’s BOOKS: https://www.amazon.com/When-Retail-Customers-Count-Ryski/dp/1420824759 

https://www.amazon.com/Conversion-Last-Great-Retail-Metric/dp/1463414226 

Connect with Wendi Swanson:

Website: etymongroup.com

LinkedIn: www.linkedin.com/in/wendiswanson

Facebook: https://www.facebook.com/profile.php?id=61557265653368 

Email: wswanson@etymongroup.com

Show notes by Podcastologist: Angelo Paul Tagama

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.