KNOWLEDGE
TURNING DATA INTO RENT
If the ‘Golden Age’ of online retailing is no more, I would be tempted to say that the use of purely footfall – as a measure of health and vitality – may soon be following it into the pages of history.
MATTHEW THOMPSON
To be fair, footfall remains a component of the analytic process, as does dwell time.
Assessed together, these metrics give a measure of ‘total shopping hours’ which, of course, is a far better yardstick than when someone walks past your shop for reasons totally unconnected with shopping.
Looking at the behaviours of people in shopping environments is increasingly crucial – and the assessment of these behaviours extends to beyond when they’re just in close proximity to a store.
These insights are, of course, important to retailers but they will also be vital for landlords who want to capture – in the form of rent – the contribution that a physical store makes to sales channels beyond the till.
Because of lack of data and expertise in this area, retail leasing structures have not yet evolved to encompass the full role that physical stores play in a broader omni-channel context.
Essentially, there has previously not been the ability to quantify what this synergy is in terms of revenue. That is about to change.
THE WORLD-WIDE WEB IS LOCAL Recent studies, including analysis of hundreds of thousands of online shopping transactions, have shown that in some cases up to half of a brand’s online sales take place within five miles of stores.
The findings began to paint the picture of how physical stores generate online purchases.
In this instance, half of the brand’s online sales could be tracked back to purchasers who lived within five miles of one of its stores.
EXECUTIVE SUMMARY
THE MARKET
RETAIL REIMAGINED
MONEY
IS THIS THE END OF THE GOLDEN AGE OF ONLINE RETAILING?
KNOWLEDGE
SHOPPING WITH A CONSCIENCE
FOOD
REGIONAL UPDATES
CONTACTS < >
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