Retail Intelligence Provider Installs Pilot Program in Circuit City’s Newly Introduced Canadian Subsidiary
CHICAGO – June 20, 2005 – ShopperTrak RCT, the world’s leading provider of retail intelligence solutions and services, today announced the installation of its in-store technology solutions into The Source By Circuit City’s chain of consumer electronics stores.
Under the agreement, ShopperTrak will install its Orbit retail traffic technology devices into a selection of The Source By Circuit City’s stores throughout Canada as part of a three-month pilot program, followed by an evaluation of system-wide roll-out strategies. During this initial phase, The Source By Circuit City will utilize ShopperTrak’s retail intelligence information, combined with its own point-of-sale data, to calculate each store’s conversion rate. By knowing each location’s conversion rate (the number of potential customers divided by the number of transactions in the store over a certain period), The Source By Circuit City will be able to more accurately measure the performance of each store and make appropriate business decisions based on this data. It will also use ShopperTrak’s traffic data to monitor overall customer traffic, determine average sales dollars per transaction and optimize its labor force in each store, adjusting staffing for key selling hours, days and seasons.
“ShopperTrak’s technology and reporting solutions provide us with the ability to most accurately monitor our key business practices, like staffing, marketing initiatives and overall store design as they relate to the bottom line, ” said Brian Levy, president and chief executive officer of The Source By Circuit City. “By utilizing ShopperTrak’s products in our stores, we will instantly be able to read key data in each individual store location, and then compare that to performance across the entire chain on a daily basis. This type of targeted, real-time reporting will allow us to maximize our efficiency and improve our overall ROI.”
ShopperTrak RCT’s Orbit retail intelligence system utilizes an on-board video sensor and multiple high-speed microprocessors to unobtrusively track shopper traffic. It provides the precise data that retailers need to make key business decisions, telling managers how many shoppers enter the store and how many of those shoppers are converted to sales. As a part of ShopperTrak RCT’s System Management Services, the web-based STRCTretail.com reporting system delivers information directly to field or corporate users for pinpoint data analysis. It combines sales data with traffic data from the Orbit to provide a complete perspective on business performance.
A privately held entity, ShopperTrak leverages 20 years of retail expertise to be the industry`s authority for information and analysis of the movement of shoppers in retail environments. ShopperTrak`s cutting-edge shopper tracking products and indices offer retail intelligence solutions that enable companies to better understand retail trends and the impact of store and staff performance on company revenues. With more than 40,000 units installed throughout 43 countries in the world`s best known retail outlets and malls, the company`s solutions also provide a proven means for retailers to gauge labor efficiencies, advertising and marketing efforts, store design and remodeling programs, merchandise changes, associate training programs, and other budget-intensive strategic initiatives.
About The Source By Circuit City
THE SOURCE BY CIRCUIT CITY (http://www.thesourcecc.com) is operated by InterTAN Canada Ltd., an indirectly owned subsidiary of Circuit City Stores, Inc. Building on InterTAN Canada Ltd.`s more than 30 years of experience as an electronics retailer, THE SOURCE BY CIRCUIT CITY will have more than 900 locations nationwide by June 30, 2005. All stores will offer a wide range of brand name consumer electronics including communications, computing, personal audio and cool gadgets.
About ShopperTrak RCT Corporation
Chicago-based ShopperTrak RCT Corporation is the world’s leading provider of information and intelligence to the retail, gaming, hospitality and entertainment industries. Its products and solutions, including the Orbit shopper traffic counting system the National Retail Sales Estimate (NRSE) and other information products and software tools, give the company’s clients the tools they need to make effective business decisions. ShopperTrak operates six offices in the United States and has three international distributors. The company can be reached at 773-631-7777 or on the Internet at http://www.shoppertrak.com.
Orbit and STRCTretail.com are trademarks of ShopperTrak RCT
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