Lawrence, a Tensator Group Company and world leader in customer queue management solutions, today announced the launch of a complimentary ROI Calculator that enables retailers to immediately predict their revenue losses due to customer walk-aways. Based on Lawrence’s proprietary data generated by the ROI Calculator, across the Top 5 largest retailers in the U.S., stores experience on average a 1.6 % walk-away rate annually which translates into billions of dollars retailers needlessly lose. The ROI Calculator, being showcased alongside Lawrence’s end-to-end merchandising and queue management solutions at this year’s NRF Show, enables retailers to find and stop “revenue leaks” from walk-aways and provides critical data enabling them to "squeeze more out of what they have" while increasing impulse buys by up to 400%.
Empowering retailers to recapture revenue
Using real-world data from retail customers, Lawrence has developed a proven formulaic approach for retailers to increase revenue and margins, reduce costs without rebranding or massive advertising by maximizing opportunity -- every square inch of same-store real estate -- by leveraging underutilized retail space wherever people queue.
“From checkout, customer service to returns and pickup, anywhere you have customers in a line, retailers now can take advantage of that "low hanging fruit opportunity" to drive additional revenue in 2011 without having to attract one new customer into their store,” said Bill Vetter, General Manager and Senior Vice President at Lawrence. “We designed the ROI Calculator so retailers know exactly how much revenue is at stake and by implementing smart customer queue management, retailers can now take control and ideally manage the customer journey from the moment they enter the store.”
By implementing smart customer queue management solutions, retailers can easily and cost effectively convert their existing customer wait time into extended shopping time, boost impulse sales, improve retail efficiencies and eliminate customer frustration and employee stress to enrich the overall customer experience and ultimately drive incremental sales and boost margins.
Retailers can take advantage of Lawrence’s free ROI Calculator immediately at this year’s NRF 2011 by visiting Lawrence’s Booth #2636 where the company will be showcasing its end to end customer queue management solutions:
• eQ, Electronic Queuing – Single Line Queueing (SLQ) call forward system reduces walk-aways by up to 96%, speeds queue flow and improves service times by 30%.
• IQM, In Queue Merchandising – From brand communication to space division, display and signage to retail merchandising, IQM increases margins up to 30%.
• SLQ3000 Queue Management System -- Next generation call forward system incorporates digital media, as well as manages a database of reporting information and advertising media to create additional revenue streams through customer promotional campaigns and enables saleable advertising and media space to third parties, such as brand owners.
• DLQ, Dispersed Line Queue -- Ticket controlled dispersed queue management system allows staff to be matched to customer requirements enabling a positive 'first come first served’ customer experience.
• TensaMedia™ – Digital signage tools that capture attention, build brands, improve customer experience and drive sales. TensaMedia enables interactive, interchangeable digital imagery that can be scheduled according to target audiences for a greater impression on viewers.
About Lawrence, a Tensator Group Company
Lawrence, a Tensator Group Company (lawrencemetal.com), is a world leader in customer queue management systems, crowd control, and hospitality products. Lawrence empowers blue chip retailers, international airport terminals, major exhibitions, leisure and entertainment venues, construction sites, restaurants, hotels and financial institutions to speed customer flow through their queue lines improving operational efficiency and customer satisfaction. Lawrence helps eliminate lost sales through walk-aways and drives high value impulse sales with its range of customer queue management solutions. The company offers consulting services and 3D design capabilities along with the industry’s largest range of queue management products available.