Ever wonder why some stores convert browsers into buyers while others struggle despite decent foot traffic? This eye-opening conversation with Mark Ryski, founder of HeadCount Corporation and author of Store Traffic is a Gift, reveals how retailers and brands are missing a massive opportunity hiding in plain sight.
At its core, store traffic represents the ultimate denominator and demand signal for physical retail. Yet surprisingly, only about half of retailers today actually track it properly, instead relying on transaction counts that miss crucial insights about non-buying visitors. Mark explains why this oversight leads to misaligned staffing, missed conversion opportunities, and ultimately, lost sales.
The conversation takes a fascinating turn when Mark reveals how dramatically conversion rates can vary within the same retail chain – from as low as 30% to as high as 75%. These "super converting" stores hold the secrets to chainwide improvement, offering practical lessons that can be replicated across locations. For brands and suppliers, understanding traffic patterns provides leverage when negotiating promotional opportunities and helps quantify the true exposure their products receive.
Perhaps most compelling is Mark's perspective on friction in the shopping journey. While retailers endlessly discuss the importance of reducing friction, most lack effective methods to measure it. Conversion rates provide that measurement, highlighting exactly when and where customers abandon their shopping journey. By tracking hourly traffic and conversion, retailers can pinpoint precisely when friction occurs and take targeted action to address it.
For anyone involved in physical retail – whether you're managing stores, developing products, or analyzing performance – this conversation will transform how you think about traffic data and its strategic value. Tune in to discover practical ways to treat traffic as the precious gift it truly is and unlock the full potential of your physical retail presence.
