This is an archived post from OrderDynamics, now Tecsys retail division.
How to Increase In-Store Traffic with a DOM? Every retailer wants to increase in-store traffic. As Mark Ryski showed in his book Conversion – the last Great Retail Metric, in-store traffic is part of the equation that directly affects overall sales. Specifically, Ryski shows that store sales are directly affected by in-store traffic, conversion rate, and the average sale value. As such, sales increase proportionally with an increase in in-store traffic (all other factors held constant). But how does a DOM (distributed order management) in particular, help you make this happen?Back to List View
Store Level Inventory VisibilityThe greatest untapped opportunity today, is to show more store level in-stock details to shoppers. Today, only 9.4% of retailers offer a detailed view of a particular store’s inventory levels by product. This level is 7.4% for US retailers, according to the Omni-1000 Research. Missed opportunity. Shoppers today want to know if the store closest to them has what they want. Or it might be on their errand run, that they will drop into a store on route. In fact, savvy consumers are often frustrated when these details are missing. What detailed inventory visibility does, is to provide options. It lets shoppers choose whether they want to order an item online. Then they want to choose whether to have it delivered, or do an in-store pickup. Alternatively they might just show up at the store knowing the location on their route has what they want. If an item is at a given store, the consumer knows that ordering online for a pickup (BOPIS), can get the transaction fulfilled quickly. Possibly the store has the merchandise, so they might pick it up within 1-4 hours. Maybe there are only a few items left, which creates a sense of urgency. Knowing there are only 2 pair of jeans in the color I want, and specifically in my size and style at the nearby store, means I want to lock in that purchase. Otherwise, someone else might get it.
Inventory DetailsJust showing the inventory details at the store level can increase demand for merchandise. Given a consumer’s desire for instant gratification, there is a good chance the shopper will want to pick it up for themselves. They might want to try it on, see, feel, smell, or test the item in person. Showing customers what you have at the store level, means a retailer can drive up in-store traffic. Not only does that result in a sale, but there is a good chance they the shopper will discover more goods that they want and end up purchasing. Art Peck, CEO of GAP characterized this well in RetailWire. He pointed out that at GAP a big element is the in-store experience as, "a big part of fashion apparel is discovery" It is a big part of the upsell opportunity of the physical store. Giving customers real-time inventory visibility starts with a DOM (distributed order management system) that aggregates all stock positions from a centralized point.
Related: How Can You Decrease Retail Shipping Costs
Schedule a Demo
Retail Returns Best Practices