SOURCE: Euclid

Euclid

October 10, 2013 15:00 ET

Euclid Releases U.S. Retail Benchmarks for September 2013

Retail Analytics Leader Reveals Consumer Shopping Trends at Physical Stores

SAN FRANCISCO, CA--(Marketwired - Oct 10, 2013) - Euclid, the leader in in-store retail analytics, today released its U.S. Retail Benchmarks for September 2013. Euclid's data on 20 million domestic shopping sessions during the month shows that walk-by conversion and in-store engagement slipped versus August as consumers became more cautious and less compelled to shop after Back-to-School spending. We believe that these metrics illustrate a cautious outlook for specialty retailers' comp store and total store sales during the month.

Walk-by Conversion
Declined 190 basis points to 14.4%

Walk-by conversion in September 2013, defined as the number of shoppers who enter a store as a percentage of the total walk-by foot traffic, decreased to 14.4% from 16.3% in August 2013. The September conversion rate dropped to the lowest level since April after a consistent uptick this summer, tracking a similar low in consumer confidence. Shoppers also continued to focus on bigger-ticket items at the expense of other shopping, and as a result walk-by conversion suffered.

Bounce Rate
15.6% in September -- Increased 190 basis points Year-Over-Year

The percentage of shoppers who entered a store but left within five minutes ("bounce rate") was 15.6% in September 2013, up from 13.7% in September 2012. Despite the slight increase, September's bounce rate maintained a meaningful improvement over the 17.0% high in July 2013. In-store engagement was strong amid Back-to-School promotions, but weakened in September as consumers had less urgency to shop against a backdrop of unwavering economic uncertainty.

Visit Duration
Down 5% Year-Over-Year, and Nearly 6% Month-Over-Month

Shopping session duration, defined as the mean time from store entry to store exit, was 22 minutes 15 seconds in September 2013, a decline of 5.0% year-over-year and 5.7% from August 2013. The shorter shopping sessions during September, following a solid summer, again reflect a decline in shopper intent compared to the recent Back-to-School period and a strong September a year ago.

Active Repeat Customers
Account for 25.3% of Total Visits

In September 2013, active repeat customers, defined as individuals returning to a store location more than once in 30 days, were 25.3% of total visits measured, up 140 basis points from the previous month. This uptick in shopper loyalty is a positive sign as repeat customers appeared responsive to increased marketing efforts and loyalty programs during the month. As Euclid expands its network, the company expects this metric to increase modestly.

Euclid provides answers and insights to brick-and-mortar retailers in the same way that web analytics services do for e-commerce. Euclid helps retailers optimize performance of their marketing, merchandising, and operations by measuring foot-traffic, store visits, walk-by conversion, bounce rate, visit duration, and customer loyalty. Euclid collects and analyzes only aggregated, anonymous data. As of October 2013, Euclid's network consists of traffic counting sensors in more than 600 shopping centers, malls and street locations around the United States. To maintain client confidentiality, Euclid does not disclose the locations of sensors. During September, the network measured 20 million shopping sessions across the United States. If you have any questions about these data, or if you would like to receive Euclid's U.S. Retail Benchmarks, please email usrb@euclidanalytics.com.

Contact Information

  • Andrew Still-Baxter
    VSC on behalf of Euclid
    andrew@vscpr.com
    phone: 415-677-9126