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  1. Get an accurate measure of the number of people entering and leaving your store.
  2. Take an accurate measure of the value of sales for the same time period.
  3. Analyse the data. Consider different ways of approaching it:
  • Conversion rate = number of sales ÷ number of people
  • Average basket size = total value of sales ÷ number of sales
  • Size of retail opportunity for the period = total number of people x average basket size.

 

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