Shopping malls are constantly trying to maximize their revenue per square meter and therefore more and more pop-up shops and temporary food stalls can be found in their open areas. Pop-up shops and promotional booths represent a special challenge for the measurement of conversion rate. While in a standard shop we measure the conversion rate as the number of people entering the shop compared to the number of people staying outside, in an open stall those definitions are far more complex.
Thanks to LBASense’s multi-range WiFi people counter and a special analytics software developed by DFRC, it is now possible to measure the conversion rate for all kinds of outdoor pop-up shops.
AMK Hub shopping mall is located in the suburban area of Singapore. Serving as a hub between a local bus interchange and the Ang Mo Kio MRT station, AMK Hub shopping mall has huge footfall traffic compared to similar malls of this size. However, most of the traffic in this shopping area is due to people using the mall as an underpass passage on the way from and to the city.
To analyze the conversion rate at AMK Hub, two parameters have been used that were previously defined with the pop-up shop owner: first, the number of people within a specific range from the stall (1-2 meters) who stayed at least n minutes and therefore were considered to be customers interested in the shop. This number was then compared to the number of people detected nearby the stall located in a zone where they were able to see the stall (e.g. 15 meters range).
Results showed that the conversion rate on a typical Saturday was quite high, with peak hours being at noon and 17:00.
Analyzed further, such data could allow targeting specific opening hours for pop-up shops, saving costs on staff during lower footfall hours.
Interested in deploying a similar system for your shop? Contact us for more information, we will be happy to help.
Photo credits: All rights reserved to DFRC.