Incremental Sales: Does your shopping app really increase retail sales?Posted by Pulkit Singhal on August 6, 2013
ShoppinPal helps retailers by providing an engaging in-store shopping experience which offers product recommendations, allows shoppers to pay by phone, and enables retailers to extend check-in rewards and personalized offers to its loyal customers. But as with any mobile commerce app for retail stores, there should be a clear way to see how ShoppinPal helps increase retail sales. The ability to drive incremental sales that retailers would otherwise not be able to make is a core competency for ShoppinPal.
We’ve always offered the opportunity for retail owners and managers to see in depth shopper insights around “what users are interested in” by breaking it down across various levels of interest based on retail analytics we gather from customers using the ShoppinPal app: items scanned, items added to list, items purchased etc. And now, we will also provide reports that allow them to see the incremental sales which ShoppinPal is driving and highlight the mobile commerce app’s value proposition to retail stores.
At ShoppinPal we categorize incremental sales within the app as: “any product which isn’t explicitly scanned by the consumer in their current store visit but still gets purchased.” For example, after mobile shoppers walk into a store: if they buy items presented to them via ShoppinPal’s recommendation system, or if they buy an item they saved for later on their ShoppinPal shopping list, or if they buy an item after a retailer uses our retail analytics platform to send personalized offers to them … it is an incremental sale. And at the end of the day, this is precisely the value retailers see in ShoppinPal: the ability to sell more.
Retailers can expect to see a snazzy new report when the latest update of ShoppinPal v0.4.16 hits the App Store at the end of this week.
Retailers will be able to clearly identify the value delivered by ShoppinPal for their stores. Even a cursory glance of the pie chart, suggests that incremental sales come close to delivering 50% of the revenue during our tests. Building this out in less than 2 days, wouldn’t have been possible without the expert support we received from the folks at mixpanel, a big thank you to Phil 🙂
Of course we are excited and eager to see how this will play out in the real world.
Image credit: Good APIs Project Blog