On many occasions, stores are conceived as black boxes by store managers, since other than the sales figures, they have little information about what is going on within their establishments. Thanks to tracking technologies, it is possible to combine the aggregated sales with other information such as the traffic received by a specific category and obtain more information about shopper behavior.
By doing this we can obtain the conversion funnel of a product, promotion, category, etc. and identify the number of visitors who have ended up becoming buyers and at what stage of the funnel we are losing potential buyers. When looking at a specific product, we differentiate 4 steps in the funnel:
- Traffic: this reveals the total traffic received by the section
- Passers-by: customers who have little interaction with the section
- Engaged: customers who spend more than 15s
- Converted: customers who buy the product
If you want to learn more about how to identify your conversion funnel and possible ways to improve your figures, check out the following post