design:retail - March/April 2020 - TR12
Calculating ROI
ROI Calculation is Not Widespread
While ROI may be important as a desired metric, few
respondent companies actually calculated it. ROI, when
calculated, also varied among all the respondents regard-
less of company type. Answers ranged from payback
on capital investments, to energy savings and customer
feedback.
Those who do calculate ROI, however, do it consistently;
the majority of whom calculated it on all their projects.
While desired ROI outcomes vary among groups, one
aspect was consistent among the
three: the typical timeframe for
calculating ROI was relatively short
term (more than 1 year, but less than
3 years).
"
It's impossible to know how long
a redesign will last. We used to believe
seven years, but now we are looking
at five. Maybe this too will change soon,
but if so, we need to really look at how
to assess ROI and our whole way of what
"
redesign looks like.
- retailer
Photo: iStock.com/Yahor Piaskouski
Shop! found that 60% of retailer
respondents calculated ROI on
a store redesign. Only 27% of the
designer respondents calculated
ROI on a store redesign, and 19%
of manufacturer respondents
calculated ROI on products sold
for store design.
ROI is greater when a holistic
approach is taken. When the moti-
vators are focused on subjective as
well as objective goals, the scope
becomes robust and impacts more
customer touch points, resulting in
a cohesive in-store experience that
inherently reaps tangible results.
While objective goals of overall sales and in-store traf-
fic continue to be of high importance, more subjective
goals of brand perceptions and shopper engagement are
undeniably proving to hold significant value as they often
drive overall sales, albeit less directly and immediately. The
power of "buzz," online reviews, bloggers, and others are
highly influential, whether positive or negative. The store
experience is a key touchpoint that can create passionate
brand advocates, or detractors.
12
KEY LEARNING:
Given the importance of ROI for retailers in
evaluating store design success, designers and
manufacturers must strive for the same metrics.
Tangible impacts on sales/profits, foot traffic, and
conversion rates are important, as are less tangible
impacts on brand perceptions, loyalty, shopper
engagement and experience.
2017 Shop! ROI Standards: Store Redesign
http://www.iStock.com/Yahor
design:retail - March/April 2020
Table of Contents for the Digital Edition of design:retail - March/April 2020
design:retail - March/April 2020
Contents
From the Editor
We Love This!: LIghtArt Floral Pendants
Site VIsit: Carolina Herrera
Brand Immersion: Moose Knuckles
Hands On: Kefi
Tech Savvy: STARRING by Ted Gibson
Connected Store: b8ta Forum
New Concepts: KFC Drive-Thru Only
Retail Technology: Sally Beauty
Plugged In: Harvey Nichols
Spec Sheet: Tech Products
Canada Goose
Fujifilm House Of Photography
Spectrum Awards 2020
Project Winners
Product Winners
Moment
design:retail - March/April 2020 - Intro
design:retail - March/April 2020 - design:retail - March/April 2020
design:retail - March/April 2020 - Cover2
design:retail - March/April 2020 - 1
design:retail - March/April 2020 - Contents
design:retail - March/April 2020 - 3
design:retail - March/April 2020 - 4
design:retail - March/April 2020 - 5
design:retail - March/April 2020 - From the Editor
design:retail - March/April 2020 - 7
design:retail - March/April 2020 - We Love This!: LIghtArt Floral Pendants
design:retail - March/April 2020 - 9
design:retail - March/April 2020 - Site VIsit: Carolina Herrera
design:retail - March/April 2020 - 11
design:retail - March/April 2020 - Brand Immersion: Moose Knuckles
design:retail - March/April 2020 - 13
design:retail - March/April 2020 - Hands On: Kefi
design:retail - March/April 2020 - 15
design:retail - March/April 2020 - Tech Savvy: STARRING by Ted Gibson
design:retail - March/April 2020 - 17
design:retail - March/April 2020 - New Concepts: KFC Drive-Thru Only
design:retail - March/April 2020 - Plugged In: Harvey Nichols
design:retail - March/April 2020 - Spec Sheet: Tech Products
design:retail - March/April 2020 - 21
design:retail - March/April 2020 - Canada Goose
design:retail - March/April 2020 - 23
design:retail - March/April 2020 - 24
design:retail - March/April 2020 - 25
design:retail - March/April 2020 - 26
design:retail - March/April 2020 - 27
design:retail - March/April 2020 - Fujifilm House Of Photography
design:retail - March/April 2020 - 29
design:retail - March/April 2020 - 30
design:retail - March/April 2020 - 31
design:retail - March/April 2020 - Spectrum Awards 2020
design:retail - March/April 2020 - TRCT1
design:retail - March/April 2020 - TRCT2
design:retail - March/April 2020 - TRCover1
design:retail - March/April 2020 - TR2
design:retail - March/April 2020 - TR3
design:retail - March/April 2020 - TR4
design:retail - March/April 2020 - TR5
design:retail - March/April 2020 - TR6
design:retail - March/April 2020 - TR7
design:retail - March/April 2020 - TR8
design:retail - March/April 2020 - TR9
design:retail - March/April 2020 - TR10
design:retail - March/April 2020 - TR11
design:retail - March/April 2020 - TR12
design:retail - March/April 2020 - TR13
design:retail - March/April 2020 - TR14
design:retail - March/April 2020 - TR15
design:retail - March/April 2020 - TRCover4
design:retail - March/April 2020 - Project Winners
design:retail - March/April 2020 - 34
design:retail - March/April 2020 - 35
design:retail - March/April 2020 - 36
design:retail - March/April 2020 - 37
design:retail - March/April 2020 - 38
design:retail - March/April 2020 - 39
design:retail - March/April 2020 - 40
design:retail - March/April 2020 - 41
design:retail - March/April 2020 - 42
design:retail - March/April 2020 - Product Winners
design:retail - March/April 2020 - 44
design:retail - March/April 2020 - 45
design:retail - March/April 2020 - 46
design:retail - March/April 2020 - 47
design:retail - March/April 2020 - Moment
design:retail - March/April 2020 - Cover3
design:retail - March/April 2020 - Cover4
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