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Is the Retail Sector Recovering? Insights from Shopper Value’s Industry Benchmarking Tool

Pakistan’s economy has gone from business as normal to a massive decline in sales and traffic during the lockdown. The questions in the minds of many now are: is the retail sector now recovering from the huge blow to business activity? If yes, is the recovery going to be sustainable?

 

To answer the potent questions, analysts at Confiz used the Industry Benchmarking tool in Shopper Value*, that leverages data from 1,400+ stores from more than 50 leading retailers in Pakistan. We made period-wise Sales and Traffic comparisons between this year and same time last year.

 

Is the Retail Sector Recovering?

Here is what went down from March-October as compared to same-time last year. Even though sale Traffic and Sales saw negative growth numbers for most of the year (starting from March), April was the worst hit as the economy went into a complete lockdown.

 

 

However, it was interesting to see that the numbers, even though still negative, started consistently improving thereon all the way up to September where we finally saw a positive percentage change. The positive change in September was a definite signal towards recovery, which came about after the persistent improvement in the previous months.

 

It is interesting to notice that even though, the numbers in October fell again, the fall was not so significant. We conclude that the industry, if not growing, was almost on the same level of activity in September and October as last year which indicates that the recovery in retail has indeed started!

 

The Second-Wave of Covid-19 – How Sustainable is the Recovery?

The second-wave of Covid-19 is now on the rise. The optimistic news that we have as off now could potentially be overturned if the given trend is disturbed in the future months.

 

Next month, November, would be a tricky one to analyze. On the one hand, we will have the second wave of covid-19 pushing the numbers down and on the other hand the White/Blessed Friday sale would be pushing the numbers up. The battle between the two would be testament to the consumer sentiment in Pakistan towards living life as normal vs risk management amidst the new normal. This sentiment would determine how sustainable the recovery actually is.

 

We can only wait to find out! Share your thoughts in the comment section below.

 

*About Shopper Value

Shopper Value is a footfall and in-store analytics solution which helps businesses tap into their lost opportunity and increase their store conversion by at least 10%.

Sign up for a free trial.

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How to measure campaign performance

From a marketing perspective, understanding the effectiveness of various campaigns as compared to each other and year over year are critical. Understanding which sales levers are being activated by each campaign can help drive store and company performance. Driving traffic, average spend and conversion are important components to help build a variety of marketing initiatives like new acquisition, brand loyalty, or higher customer spend.

Today, we’re excited to introduce Campaign Measurement, a new tool for Shopper Value – Gold, to help you measure and track campaign performance data without having to manually collect and piece it all together. You can define all your campaigns in one place and breeze through your analysis to have a deeper understanding of how campaigns fared. With Shopper Value, you can now define all your campaigns and analyze them in two easy to understand reports.

 

Visualize Campaign Performance 

1) Compare Comparisons

 

The compare campaigns report is designed to make it easy for you to understand the efficacy of various campaigns in activating different sales levers. The report makes it very easy to understand how each KPI did in a certain campaign to easily know what type of campaigns are more impactful on each respective KPI. This would help understand and be able to plan and design campaigns that drive your marketing objectives successfully.

 

2) Store Response to Campaigns

 

The store response to campaign report helps in easily visualizing how different stores responded to a campaign on dimensions of different KPIs. In a very easy to visualize manner it’s easy to spot what stores did not do well on what KPI and need improvements in operational or marketing strategy to drive better results in future campaigns.

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