Operational Research
Measuring sales potential and how to achieve it.
Knowing what sales are lost every day and what interventions will reduce these losses represents a significant, cost effective opportunity to increase sales.
Purpose
To enable malls and retailers to conduct intercept interviews independently of research companies. Its focus is to quantify lost sales, identify their causes and track the effectiveness of remedial actions.
Process
We provide a standard questionnaire and a systems infrastructure that can be used to to run unlimited intercept Interviews at a fixed cost at specified locations. We report on interview quality as well as results.
Deliverable
The difference between actual and potential conversion rates. The extent of lost sales and their causes. The gap between customer service expectations and service delivery. Data available per store.
Purpose
Over 33,000 interviews conducted on our research platform confirm that many customers enter stores every day wanting to purchase but leave empty-handed. We quantify these lost sales and identify and prioritize the causes for remedial action by management. Repeated use enables assessment of the effectiveness of remedial actions. The end objective is to increase sales and customer satisfaction.
Process
Clients are provided with a web questionnaire. Clients recruit and manage students to conduct interviews at their cost. We familiarize students (remotely) with the questionnaire and interview process. Interviewers use their smartphones or tablets to access the questionnaire and conduct interviews. We monitor and report daily on the interview and interviewer’s progress and submit a report on the conclusion of interviewing. The cost is project and not interview-based. The questionnaire and reports are customizable.
Deliverables
Standard deliverables provide insights into:
customer buying intent, which influences sales potential and enables the identification of lost transactions.
potential vs. actual conversion rates which reflect potential to increase sales
potential vs. actual items purchased which indicate potential to increase the average transaction value
customer service sensitivity which should reflect in staffing levels
lost sales or the difference between potential and actual transactions
reasons for lost sales (staff, merchandise related, and other) and
the extent to which service impacts lost sales.
