4 innovative ways to improve your retail store conversions and sales

The retail market is becoming increasingly competitive. It’s no longer enough for a retail location to simply sell the items that people want (although that does help). Finding sustainable success and operational excellence in today’s retail space means finding ways to increase your locations’ conversion rates. In this guide, we’ll be going over four ways you can do just that.

1. Provide a great customer experience

Improving the customer experience of a retail location is one of the easiest ways to increase conversion rates. For example, by offering buyers gift wrapping, holiday cards, and other thoughtful gifts you are likely to see an increase in conversions. 

It’s also important to make sure that customers are receiving what they came for without complications. This could include providing them with an opportunity for returns or exchanges with no questions asked.

One innovative way to create meaningful experiences for your customers is by generating customer attribute profiles using an AI-powered analysis platform like Alertiee Mind. By capturing basic descriptive information about the people who enter your store you can develop accurate customer personas that help you design experiences that appeal to the needs and wants of customers in your store.

2. Create a feeling of scarcity

Scarcity is a powerful tool when it comes to upping conversion rates. For example, you could choose to display a limited selection of items or inform shoppers that the item they’re interested in might not be available for long. 

Messaging like this is used to instil a sense of urgency in customers that encourages them to make purchases that they might have otherwise put off.

Conversion rate for retail store
Increase Conversion rate in retail store with IoT and AI

3. Have an easy checkout process

Making it easy for your customers to check out of your retail location is a great way to increase your conversion rate. If time is money for your customers, then offering speedy options at checkout can create an impulse buy situation where they don’t have enough time to think about their decision before making it final. There are a couple of ways to do this:

Obscuring Queues

Customers hate the thought of waiting in lines. If they can see a long checkout line the second, they walk in the door you can rest assured that a certain percentage will decide to shop elsewhere. To avoid this, many retailers choose to locate their checkout lines in less visible areas of their stores.

Self-Checkout Machines

There is no research showing that self-checkout machines are faster than cashiers. However, there is research showing that 85% of customers think they’re faster. Adding self-checkout options increases the likelihood that customers will be motivated to make a purchase.

4. Vary staffing based on traffic

Many retailers choose to allocate staff based on sales. This approach is simple: retailers simply look at a location’s transaction record and increase staff during peak sales times.

A far better approach is allocating staff based on a location’s traffic. With the help of a visual detection system like Alertiee Sense, retailers can easily track foot traffic to their locations over time. This allows them to develop a clear picture of peak traffic times. Increasing staff during these peaks will lead to more sales and an increased conversion rate for the location.

Increasing conversion rates is an important concern for retailers, especially as post-COVID foot traffic lulls continue to play out. You need to be able to get the most out of the foot traffic you do manage to attract. Luckily, as we discussed in this article, you have a ton of great options available for doing just that.

Further Reading

If you enjoyed this post: 4 innovative ways to improve your retail store conversions and sales, be sure to check out our recent IoT and AI pilot with Adnams here: AI and IoT for retailers how physical stores can enhance customer experience

Proven benefits of Alertiee technology

Alertiee will help you realise missing sales opportunities, stores’ performance based on conversion rate, and stores’ sales hotspots areas.

We support and guide you through how you best convert both inside and outside traffic opportunities by supplying you with options around service risks and how to serve your existing and potential new customers best.

Alertiee will help you to provide a harmonious customer experience across your omnichannel business. Our technology enables customer experience, marketing and retail teams to close the gap between customers’ digital experience and their physical experience.

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Sahand Malek