The conversion rate will also help me measure the success of the collaboration, conversion rate is all about the profit and it will help the store find out if the sales team are helping sell the clothes efficiently and if the visual merchandising team are doing a good job. It is important that the visual merchandising teams make outstanding window displays because they massively help the footfall of the stores and entice customers into the shop. Keeping track of ‘add to basket rates’ is also a good KPI. This is when the customer puts something in their basket but may not buy the item, if a record of this is kept it allows Lipsy to know what the more popular items are.
Maintaining Social Media accounts is also a key way of measuring the collaboration success. The Lipsy London Instagram account currently has 312k followers, it’s important to keep track of this and see if the launch of the collaboration boosts the following amount. I have also made my own Instagram account and has the aim of getting 250K followers on it for the collaboration to keep customers updated with the latest clothing and deals.