RS Metrics Uses Satellite Imagery to Forecast Second Quarter Customer Traffic at WalmartÂ®
Quantitative Parking Lot Traffic Measurements Show a Strong Correlation to Comps When Average Ticket and Shopper Conversion Rates are Stable
Chicago, IL (PRWEB) July 06, 2011
After eight consecutive quarters of declining revenue and traffic at its flagship US stores, Walmart’s top management is under increasing pressure to reverse course and return the world’s largest retailer to positive same store sales. According to a recent Reuters article “Wal-Mart needs to show U.S. turnaround is on track”, questions remain about management’s ability to reverse the decline.
After a -1.1% drop in comparable sales during the first quarter (source: investors.walmartstores.com), new initiatives such as a 10-cent-a-gallon gas discount and a gradual restocking of merchandise to store shelves show that Walmart is serious about luring shoppers back (source: New York Times, July 3, 2011). Serious as it may be, corporate and investor decision makers who have a stake in the outcome of the new strategy won’t be able to determine its success or failure until Walmart reports its second quarter sales months in mid-August.
In response to this lack of information, Remote Sensing Metrics, a Chicago-based consultancy, is announcing the availability of its Quantitative Parking Lot Traffic Measurement product, a monthly or weekly feed of individual store parking lot car and space counts with local zip-based demographics covering Walmart and other major retailers.
Using images that show the number of cars parked at company stores and local competitors at exactly the same time of day, Remote Sensing Metrics is able to generate data on thousands of store locations per month. This local traffic data opens up new opportunities to generate or refine comparable store sales estimates, measure local, regional and national retail market share, calculate “traffic lift” from company and competitor promotions, forecast new store traffic ramp-up, and quantify changes in shopper conversion rate.
“Remote Sensing Metrics parking lot traffic data brings a completely objective point of view on traffic trends at retailers all across the country down to the individual store level” says Tom Diamond, President and CEO of RS Metrics. “No longer are decision makers dependent on models and anecdotal evidence based on qualitative surveys. We count the cars and bring the actual results right to you. This kind of data will open up new capabilities and insights for corporate, investor, REIT, and CPG companies across the globe and we are thoroughly excited to have the chance to make this technology available.”
Monthly and quarterly data and year-over-year comparisons for WMT, TGT, HD, LOW, KR, WFMI, AZO, ORLY and other retailers and restaurants are available now for the first five months of 2011 and most of 2010. Data for June 2011 will be available on July 8th, 2011. Contact Remote Sensing Metrics at 312-282-4600 or info(at)rsmetrics(dot)com for more information.
About Remote Sensing Metrics, LLC
RS Metrics provides corporate, investor, and government clients with proprietary data based on quantitative analysis of high resolution satellite imagery and climate data. Our Retail Chain Parking Lot Traffic Analysis products involve monthly and quarterly analysis of retail parking lots to determine year-over-year traffic growth, market share and comps forecasts. Results can be broken out by region/zip code, store format, local demographics, etc. We partner with leading satellite imagery companies for global coverage and technical capabilities, and have access to several years of historical imagery in our archives. RS Metrics was founded in 2008 by executives from corporate and investor strategy consulting, satellite imagery, and geographic information systems companies. For more information visit http://www.rsmetrics.com.
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