2017 Shop! ROI Standards: Store Redesign
3
In order to combat the alarming decline in the number of
store visits, retailers need to motivate consumers to get
out of their chairs and go to the store. Retailers need to
focus on giving shoppers what they cannot get at home,
in an environment that entices them to make the journey.
Making those changes require resources and resources
require ROI justification, yet there are no definitive industry
standards for measuring the results of the investment.
Measurements that are available are often fraught with
caveats, varying by sector and oftentimes neglecting
intangible, but significant, costs or benefits.
At the same time, projects must include commitment to
credible, attainable ROI, a goal that is often a battle with
uncertainty. This is driving discussions between retailers
and their vendors. Discussions revolve not only around
identifying the experience goals and execution plan,
but also around the results the retailer can expect to
gain from the investment.
To aid in the calculation of ROI, Shop! seeks to understand
key ROI variables, considerations and methodologies for
the industry.
By understanding these key factors (both current and
emerging), Shop! will work towards the creation of ROI
standards for store redesigns. Shop! is working collabora
tively with key industry players from the retailing, branding
and store design industries to create these standards.
In 2014, Shop! worked with EWI to gain a base under
standing of the ROI on retail design. The research was
concentrated on stores with physical remodels affecting
a variety of shopper influencing factors. The EWI team
crossreferenced the data from the various projects and
gathered data through a survey of current retailers. The
surveys focused on understanding the retailers’ motiva
tions, goals, and expectations of a store redesign, as well
as, identifying the various scopes of each project.
Building off the findings from the EWI Paper published in
2015, Shop! endeavored to further understand the current
ROI measurement habits in the retail industry. Last fall,
Shop! conducted a survey with key players in retail, store
design, and fixture manufacturing.
According to Retail Next, 94% of retail sales are still occurring
at brick-and-mortar stores, yet foot traffic is declining at an annual rate
of 15% and half of the customers are showrooming.
Photo: iStock.com/fiphoto
2017 Shop! ROI Standards: Store Redesign
3
In order to combat the alarming decline in the number of
store visits, retailers need to motivate consumers to get
out of their chairs and go to the store. Retailers need to
focus on giving shoppers what they cannot get at home,
in an environment that entices them to make the journey.
Making those changes require resources and resources
require ROI justification, yet there are no definitive industry
standards for measuring the results of the investment.
Measurements that are available are often fraught with
caveats, varying by sector and oftentimes neglecting
intangible, but significant, costs or benefits.
At the same time, projects must include commitment to
credible, attainable ROI, a goal that is often a battle with
uncertainty. This is driving discussions between retailers
and their vendors. Discussions revolve not only around
identifying the experience goals and execution plan,
but also around the results the retailer can expect to
gain from the investment.
To aid in the calculation of ROI, Shop! seeks to understand
key ROI variables, considerations and methodologies for
the industry.
By understanding these key factors (both current and
emerging), Shop! will work towards the creation of ROI
standards for store redesigns. Shop! is working collabora
tively with key industry players from the retailing, branding
and store design industries to create these standards.
In 2014, Shop! worked with E WI to gain a base under
standing of the ROI on retail design. The research was
concentrated on stores with physical remodels affecting
a variety of shopper influencing factors. The EWI team
crossreferenced the data from the various projects and
gathered data through a survey of current retailers. The
surveys focused on understanding the retailers’ motiva
tions, goals, and expectations of a store redesign, as well
as, identifying the various scopes of each project.
Building off the findings from the EWI Paper published in
2015, Shop! endeavored to further understand the current
ROI measurement habits in the retail industry. Last fall,
Shop! conducted a survey with key players in retail, store
design, and fixture manufacturing.
According to Retail Next, 94% of retail sales are still occurring
at brick-and-mortar stores, yet foot traffic is declining at an annual rate
of 15% and half of the customers are showrooming.
Photo: iStock.com/fiphoto
