Key
Performance
Indicator
To measure the success of the collaboration we will use footfall. This will aid our research as footfall simply means how many people have entered the concession. Therefore, we will know how popular the line was and if we really got as much attention as we aimed for. For example, within the first week, we are aiming for 3,000 people to have entered the concession. To count the footfall, we will have a tracker next to the concession. This way we can ensure it is more reliable and correct- rather than a sales assistant counting.
Furthermore, another way to measure the success will be the average conversion rate. We will use to footfall to aid us to complete the figures. This is a really good way to measure the success because we will be able to see how well the sales assistants are at persuading customers to buying garments. In addition, it will allow us to see if the visual merchandisers are doing a good job at the layout and store windows and using consumer psychology to encourage the customers to buy our products. We are aiming to have our sales conversion rate at 2 to 3.
An obvious way to measure the success of the
pop up shop will be the sales growth. If we are reaching and succeeding targets, it will indicate that the store has been just as successful as we aimed for. The targets will also give the sales assistant something to work towards and maybe making them work harder on the shop floor. We are aiming to make £27,000 within the first week.
A way to measure the success online will be the number of followers our social media accounts have. Likewise, the lines hashtag will help us measure the success. As we will be able to see how many people have clicked on the hashtag and how many people have posted pictures and status' using it. This is a very good way to see how much attention the brand is getting. We hope to have 150K followers on all of our accounts and achieve an average number of likes and retweets of 2500. We will be looking at how many men follow our social media accounts and interact with the hashtag and posts. This will tell us if we have attracted our desired target audience. If we do not reach our targets, we will have to look at price point and how successful the marketing has been.