At peak hours, retailers lose a significant proportion of high-value sales
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Walk-ins will have to wait
Our European telco clients tell us that 66% of their walk-in customers at peak hours will have to wait before being served – and many of those will leave before ever seeing a sales associate. In fact, at typical UK phone stores averaging between 130 and 500 walk-ins per day – the majority during the two peak periods – Since it is difficult for sales associates to prioritize shoppers based on their purchasing intentions, potentially high-value sales from these unserved shoppers are walking right out the door.
London (High Street)
|Yorkshire (Shopping Center)|
|Average basket size||£127.16||£159.38|
|Visits per month||15,058||4,093|
|Visits per day||502||136|
|Visits at peak hours||331||90|
|Number of sales associates||10||4|
|Peak service capacity||138||55|
|Clients arriving with purchase intention at peak hours||99||27|
|Unserved customers with purchase intention||58||10|
|Served but unconverted customers||59||20|
Daily sales losses from unserved customers (based on a35% conversation rate)
* Based on an USD exchange rate of 1.36.
** Based on a EUR exchange rate of 1.10751.
Wait time is the culprit
At the same typical phone stores described above, between 10 and 58 customers who arrive intending to buy will leave before being served, when their patience or their available time runs out.
Being forced to wait is the single most important factor impacting overall customer satisfaction. According to a KNOWTHM study, a shopper’s Net Promotor Score (NPS) drops by 1.15 per minute after 13 minutes of wait time.
SmartQueue by KNOWTHM not only improves customer satisfaction – by cutting wait times by up to 50% in a typical phone store with 130 walk-ins per day – it also puts customers in charge of their time by letting them monitor their queue position in real time.
WAIT TIME CUTS
Prioritize high-value customers
Using conventional FIFO queuing, a typical UK phone retailer averaging 136 daily walk-ins could lose up to £558 ($760*) per day in potential sales. To reduce such losses, SmartQueue’s sophisticated AI-driven algorithms prioritize customers by purchase probability and expected basket size. With closing rates as low as 7%, SmartQueue lets sales associate optimize their time by serving customers with the highest value.
SmartQueue is the most effective way to improve the wait experience – and boost customer satisfaction and sales.