New ShopLocal index tracks cross-channel shopping activity

ShopLocal LLC, which hosts web sites for 50 retailers that detail the promotions they are offering through newspaper circulars, has developed an in-store shopping index based on how often consumers visit circulars at ShopLocal. The company says the index provides a way to measure how much Internet browsing affects in-store shopping.

The index was up 29% in August compared with August 2006, ShopLocal reported in its first release of what it says will be a monthly report. “We believe the index has a high correspondence with the amount of sales in stores influenced by the Internet,” says Vikram Sharma, ShopLocal CEO.

The index, which was set at 100 for the level of web site activity observed in January 2006, hit a peak of 300 in November 2006, ShopLocal says. The data is based on an average of 20 million visits per month to the promotional sites of 50 major U.S. retailers.

A July survey by ShopLocal of 23,600 shoppers who visited those sites found that 65% made an in-store purchase within a week of visiting a site and another 23% within three weeks.

ShopLocal’s retail clients include Sears, No. 7 in the Internet Retailer Top 500 Guide, Best Buy No. 11 and Target No. 19.

ShopLocal is owned by three newspaper chains: Gannett Co. Inc., Tribune Company and The McClatchy Company.