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Study: Retailers using promotions to re-engage shoppers
Physical store retailers are using age-old promotions to re-engage shoppers who've gone online. That according to new Euclid Analytics data. Researchers looked into what brick-and-mortar retailers did over the first six months of 2015 and found aggressive in-store promotions and improving store experiences topped the list of strategies for those trying to get online shoppers back in their stores.
"The continued erosion of in-store traffic has been raising alarms among every brick-and-mortar retailer," said Brent Franson, CEO of Euclid Analytics. "We're seeing hopeful signs that retailers are starting to counter this declining trend and making every in-store visit count. That said, the unexpected poor showing in June also demonstrates that retailers are not yet out of the woods. Ultimately, retailers must boost their loyalty metrics and win the hearts and wallets of the mobile-savvy shopper."
Some interesting takeaways from the Euclid Analytics report include:
• Time spend in-store increased 4 minutes Year over Year
• Bounce rates declined 6.5% June 2014 vs June 2015
• Storefront conversion increased to 9%
However, store loyalty showed a decrease of nearly 1%. Loyalty, repeat customer visits fell to 11.7% of total visits compared to 12.8% in 2014.
Meanwhile, April seems to be the time shoppers head back to stores - that month was the only month showing an increase in traffic growth (7% YoY); April also showed an increase in store promotions which helped increase storefront conversions to 9.5% for the month.
Image via Shutterstock
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