Walkaways – the missing metric that could save Retail

It is hard to see, read or hear any news article about traditional retail these days without hearing about footfall being down and shoppers deserting bricks and mortar.

It’s not all doom and gloom though. There are some easy ways to avoid becoming victims of the ‘Amazon effect’. In particular, analysing behaviour of shopper’s instore experience.

At SRI, we believe there is an enormous opportunity being missed.  We call them ‘Walkaways’.  Shoppers who browse or interact with products or categories but don’t buy

Amazingly, retailers and brand owners do not standardly measure Walkaways.  In recent months, we have completed behavioural analytics studies in grocery, DIY, healthcare, drinks and pop-ups and a consistent theme emerges.  Too many shoppers engage with products and categories but walk away from the category without buying.  Typically, SRI sees Walkaway rates of 20% to 40% in mainstream grocery retail.

Take the example below.  The heatmap shows where shoppers have actively browsed categories, but in the end, not purchased anything.

Static screenshot from SRI animated heatmap

In this real life example, the category walkaway rate was an eyewatering 38%.

Measuring and improving these walkaway rates is an opportunity there for the taking. After all, these shoppers have actively chosen to come into your store and browse your products.  Understanding why they then walk away is the key to future success.

For more information contact info@shopperretailinsight.com

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More New Jobs Posted By SRI

We have a great opportunity for an Technical Manager to both implement and manage contractors for temporary and permanent IP camera installs in retail environments. You would need a good working understanding of server based IP camera installs, LAN and WAN implementation and also an ability and interest to perform R&D on the latest technologies to develop our capture technology platform.

We are also currently looking to recruit retail tracking analysts to work in our Roundhay office in Leeds. As a retail tracking analyst you will be analysing footage, logging the actions and behaviours of shoppers in a retail environment using our in house software

Read more about the jobs here.

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