Great idea! I used it in my store and Harry Friedman uses it to teach
and use in his Retailers Management Bootcamp. thefriedmangroup.com
You should 1st use the enter/exit numebrs as a group.
You take out all employees and postmen. Then what;'s left 9divide by
"2" for round trip) then you have a starting number.
You say you don’t do “in hosue” repairs. but do you have repairs? If
so I’d suggest you break down closing ratios by DEPARTMENT.
Most stores have 70% of people walking in asking a question about
service, wether you charge or not.
the remaining 30% are candidates for prodiyct sales.
Here’s the “typical” closing ratio for many “average” jewelry stores
Type Closing ratio
CUSTOM DESIGN 60-80%
PRODUCT SALES 33%
So if they have a closing ratio of 33% in product 9sell 3 out of 10)
then if they could go to 4 out of 10 (40%) their product sales would
yes, sue the door counter but also track how many people you WAIT on
with a repair and who buy, how many you wait on with custom and how
many buy and how many look at product and how many buy.