Euclid: August sales indicate strong back-to-school season
San Francisco – August 2014 sales results indicate the 2014 back-to-school period had a significant boost to shopping activity. According to new data from in-store retail analytics provider Euclid, traffic increased substantially compared to the previous month, aided by temperate weather and multi-year highs in consumer confidence.
In addition, healthy economic conditions and generous promotions benefitted shopping and contributed to highly engaged visits to the brick-and-mortar store. Euclid asserts that its metrics illustrate a positive outlook for industry revenues, and estimates year-over-year sales growth of 4% in general merchandise, apparel, furniture and other (GAFO) retail sales, 5% growth year-over-year in clothing and apparel sales, and 3% growth year-over-year in general merchandise sales.
Here are some of Euclid’s top findings in the August report around shopper behavior metrics:
- Shopper traffic declined 3% compared to the same month in 2013, but rose 7% compared to July. Back-to-school shopping brought many consumers back to the brick-and-mortar store.
- Storefront conversion was up 2% year-over-year due to highly targeted shopping and deal hunting.
- Average duration increased 13% from last year. Consumers are feeling the benefits of rising asset prices and improving labor market conditions, and as a result retailers saw more engaged shoppers who are willing to spend.
- Repeat visits decreased 1% year-over-year, dropping to a low for the year as consumers accomplished more back-to-school shopping in fewer trips.
The best shopping day of August was Thursday the 28th. Outperformance was experienced across all metrics on the 28th, with especially favorable numbers for duration, engagement, and bounce rate. This day benefited from a surge in activity to prepare for Labor Day weekend. On the other hand, Tuesday the fifth was the worst shopping day of the month. Low traffic coupled with abnormally high bounce rates marked this day and likely led to sales underperformance.
The Pantry deploys AccuStore to reduce costs
Clearwater, Fla. – AccuStore, a provider of site profiling technology and services, announced The Pantry, a chain of 1,500 plus convenience stores, has licensed AccuStore’s site profile management platform with plans to reduce operating costs and improve execution.
AccuStore enables companies to maintain a centralized online repository of site-level details accessible throughout the organization. Its site profiling technology can be utilized to help drive efficiencies in store-level marketing planning, increase ROI on marketing initiatives by improving store-level execution, and reduce waste resulting from excess marketing materials.
“Implementing AccuStore at The Pantry will provide us with store-specific information, designed to help streamline marketing decisions and budget planning,” said Nancy Clemons, Pantry’s director of marketing. “It will be part of our overall toolbox in marketing planning and implementation.”
Tiffany names exec VP overseeing global retail ops
New York — Tiffany & Co. announced that it has named Jill Beraud as an executive VP, effective Oct. 13. She will have responsibility for global retail operations including all sales channels in every region, as well as oversight of strategic store development and real estate.
Beraud will report to Frederic Cumenal, president, who, as previously announced, will become Tiffany’s CEO effective April 1, 2015.
Beraud, 54, joins Tiffany from Living Proof where she has been CEO since 2011.