Every year retailers pour billions of dollars into marketing campaigns to draw shoppers to their stores. With a dizzying array of advertising options, promotions, coupons and ‘trending’ tactics combined with increasing competition from online retailers, it’s easy to be unsure about the exact impact that the efforts have on sales. If your sales bucket isn’t overflowing, it is likely there are some revenue leaks that need addressing – before pouring in more water.

Gold Research studies have identified that a significant amount of shopper revenue “leaks” occur before and during the retail shopping experience, yet many retailers weren’t clear that the leaks were as big as they actually were – and how much revenue leakage could be stopped with practical solutions. 

Gold Research has pioneered the use of shopper path-to-purchase journey mapping to systematically identify the paths that shoppers take on their shopping journey both before they reach the store and while they are in-the-store. These journey maps identify spots where shoppers make decisions that take them away from their planned retailer or product purchase. This research quantifies the impact of every step in the journey on the final purchase and assesses the impact of improvements and digital influences on each shopper segment to determine the revenue leakage and ROI by touchpoint, journey step, shopper segment, and product type. 

Gold Research also uses digital journey mapping to capture the actual paths that online shoppers take, whether they are on their desktop, their tablet, their smartphone or talking to their digital assistant (Google Home, Alexa, etc.) This research found that only 50% of shoppers who visited a retailer’s website for a specific product bought the product from another retailer (in-store or online), a significantly high leakage rate. An ecommerce redesign effort quickly closed the leak and allowed them to compete much better vs. amazon.com

Knowing the omnichannel journey paths, each shopper takes, and the changes in planned shopper behavior due to retail stockouts, messy aisles, poor user experiences, or misleading promotions is quantifiable, which means you know exactly the shopper behavior that causes the revenue leaks and can estimate the value of the reduced leakage.  Additionally, our systems allow us to estimate the impact of various improvements for each shopper segment or product category. 

We help businesses calculate the ROI of each improvement so leaders can make decisions faster and with the needed financial support. If you want to reduce leaks in your revenue pipeline and increase your ROI, Gold Journey Mapping is the solution for you.

Contact us at 1-800-549-7170 or send us an email to nitin@goldresearchinc.com for a free 30-minute consultation on this topic.

Gold Research Inc. has extensive experience in journey mapping, path-to-purchase research, deploying customer intercepts, in-store interviews, and mobile surveys for concept testing, marketing testing, satisfaction research, shopper insights, and mystery shopping. We can also act as an extension of your research team in helping with data processing, analysis, report development, and survey programming.