Company News • 16.10.2013
Euclid Releases U.S. Retail Benchmarks for September 2013
Retail Analytics Leader Reveals Consumer Shopping Trends at Physical Stores
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.
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