[Jewelry making - Article 00056] - Re: [Orchid] Walk-in Conversion Ratio

[Daniel R. Spirer]

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    If I understand what "Walk-in Customer Conversion" means (that you
    are tracking how many people come in, who haven't been customers
    before, who then become customers) I would say that a really
    reasonable average would be 100%, but then that's probably wishful
    thinking on all of our parts. Actually I think a mall store's average
    would be lower than a free standing or strip mall located store as
    you get a lot of people coming to a mall for other shopping who might
    stop in just to kill time, or just because they are in the mall. Free
    standing stores tend to draw people because of what they are
    offering. I think I may draw around the 40% mark but I would think a
    mall store should probably be happy at a 15-20% mark, especially one
    given your price range (since a lot of mall shoppers are looking for
    bargains and if you start at $100 you're not really selling
    bargains). What might be even better for the store to track would be
    why the customers don't want to buy (if possible). Did they seem
    aghast at the pricing? Did they not like the selection? Some of this
    would have to be based on supposition of course but it would be more
    effective then just knowing how many people actually buy.

Daniel R. Spirer, G.G.
Daniel R. Spirer Jewelers, LLC
1780 Massachusetts Ave.
Cambridge, MA 02140
www.spirerjewelers.com
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