Conversion Review

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Conversion ReviewIn one form or another, I've been heavily involved in most aspects of retail for nearly 20 years and this is the most sensible approach to driving business growth I've encountered.
All too often retailers focus on driving traffic and reducing costs. Marketing departments want to run more flyers and more ads and store operations want to reduce staffing costs. Well what about the 50%+ of people who came into your store and didn't buy anything? Why waste money driving more people into your stores so that even more of them walk out without buying. Instead, why not focus on what you can do to get the ones who came into your stores to transact. It can be as simple as having the right number of well trained, knowledgeable staff around at the times when shoppers most often frequent your store or it may cause you to rethink your marketing messaging so it better aligns with your in-store value proposition.
This book points out the classic blunder - retailers look in the till and use this as a proxy for traffic. If half or more of the people walk out because there are insufficient or inattentive staff then what's in the till doesn't represent the true potential of the traffic which walked in the door. If they walked out because they couldn't find what they were looking for - the item was out of stock or the customer couldn't find it - you need to understand that. To achieve operational excellence you need to understand how much you're missing, why you're missing and how much improvement you can drive with various in-store initiatives. And that means understanding and acting on conversion.
And that's just the simple stuff. This book is an indispensable handbook for "C Level" retail executives on how to get it right. How to create a culture that gets analytics and uses them to drive performance. How to break the cycle of evaluating performance by comp sales instead of measuring performance against the true opportunity. In short, how to take retail operations to the next level.
I highly recommend this book for anyone who wants to be a smarter and better retailer. Those who get conversion will quickly distance themselves from those who don't.
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