As the retail equation was developed in 1976 and, for the first time conversion rate was part of the landscape of sales revenues, the founder started talking about a new concept: Management By Potential
. In fact, the conversion rate identified clearly the number of potential customers leaving the store without making a purchase and therefore identifying new opportunities to increase sales.
The big question was “how”. What can be done to improve the conversion rate at store level? Having worked as a consultant and developed training programs for many North-American retailers, the objective of increasing sales revenues and staff productivity, were the first strategies to be studied. Does customer service have an impact on the conversion rate and sales revenues? The outcome was conclusive: good sales increase is attributable to better staffing methods. In the late 90’s, staffing companies began looking into traffic data to align the level of staff with the number of potential customers in the stores.
During these years, many more experiments were carried out to evaluate the quality of traffic. Consequently, Axper undertook the task of developing analytic software capable of adjusting the service level in periods where sales increase is achievable, at a low selling cost. Other analytic parameters were also taken into account to facilitate a true assessment of staff productivity as well as other operational activities.
Today, Axper is a step ahead of its competitors. With all its services, Axper has become a retail specialist, helping retailers to achieve greater profits. The reason is simple: Axper is the only organization that has developed tools, strategies and methods for retailers to help them maximize on all their efforts made to invite customers into their stores. All the tools have been developed to help retailers to capitalize on the customers already in their stores, what we call Management By Potential.