Improve conversion rates and lower abandonment

Execute on the service and merchandising strategies to turn browsers into purchasers. Identify why locations differ in conversion rates and put actions in place to increase sales. 

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In one location, 2 out of every 10 customers purchase. In another, 4 out of every 10 customers purchase. Why 20% conversion in one location and 40% in another? Understanding that difference will become the key to ensuring that every location converts browsers into customers and delivers value back to the brand. How can you find those differences? Three ways.

  1. Use customer experience surveys to ask whether customers purchased—and why not. Simple branching techniques can quickly trace low conversion rates to merchandise, service, or traffic issues.
  2. Use customer intercepts to ask customers who exit your stores why they did or did not purchase. Market Force uses sophisticated sampling techniques to obtain market and store level data so you know the why’s behind conversion rates.
  3. Use data from traffic counters in conversion rate modeling. Customers in, customers out, POS data, and customer experience data combine to identify the critical drivers of conversion rates.

Is your investment in sales associate training paying off? If your retail stores encourage or require interactions with sales associates, it’s important to assess whether they assess needs, make recommendations, and close sales. That series of questions forms the backbone of any high touch retail model, and both our mystery shopping and customer experience surveys focus on understanding that equation. Our sales efficacy model pinpoints whether associates represent your brand to customers—and sell more when they do.

Many retailers have a customer contact center where agents take orders, handle complaints, and direct problems to the right owners. Market Force mystery shoppers evaluate your retail contact center. Using real life scenarios they will evaluate agent responses to their needs and questions, providing you with an unbiased opinion of whether agents effectively represent your brand. The same is true for the e-commerce sites. Mystery shoppers complete tasks on your site and provide feedback on ease-of-navigation and clarity of information. Your customers use multiple channels to engage with your brand. So measure all the channels and improve on your opportunities.

Featured News

Market Force releases results of 2018 fashion retailer survey

Market Force surveyed almost 11,000 respondents covering all U.S. and Canadian regions to find out which premium fashion retailers and shoe retailers were consumers’ favorites. The study looked at attributes that matter most to shoppers, including store atmosphere, ability to create a “look,” ability to find the correct size, assistance from sales personnel, and the use of loyalty cards, among other criteria. The study also looked at the brick-and-mortar versus online shopping.

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The future of CX: Identifying and driving financial ROI  

The Retail Bulletin, March 5, 2018 — The days of simply putting in measurement systems and reporting on results just don’t deliver enough value ... Best-in-class organisations are leveraging multiple customer experience measures, including mystery shopping, customer surveys, contact centre services, and social media review tracking, among others. In addition, those same industry-leading companies are integrating these measures and linking them to financial performance at the location level. 

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Featured News

Consumers favorite apparel retailers for value

Consumer demand for value when shopping for apparel is as strong as ever, and their favorite value fashion retailers are TJ Maxx and Target, according to a new retail study from Market Force. Market Force polled more than 10,000 consumers for the study, which ranks value fashion retailers overall, as well as areas such as merchandise selection, customer service and e-commerce. 

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Rent-A-Center Taps Market Force for Customer Experience Management 

Rent-A-Center, a rent-to-own industry leader, has selected Market Force to provide mystery shopping services for the chain’s 2,400 locations nationwide. Rent-A-Center will also leverage Market Force’s KnowledgeForce platform to compile and analyze mystery shopping data, and to make location-level improvements that increase customer satisfaction. This article goes through some of the results of Market Force's 2017 Fashion Apparel benchmark study.

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Don't underestimate the importance of the sales associate to drive brand loyalty and in-store sales

While no one disputes topics such as mobile optimization, social media, omnichannel, and loyalty programs are important aspects of today’s retail businesses, a recent study from Market Force Information reminds us that increased sales are also driven by engagement of another kind—associate engagement. Sales associates are the front-line representatives for retailers, and how they engage with consumers can make or break the shopping experience and impact sales. 

This article goes through some of the results of Market Force's 2017 Fashion Apparel benchmark study.

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A gaming retailer wanted to know whether associate training had paid off. The goal? Determine whether associates who recommended games sold more games. Market Force used its customer experience surveys to measure whether associates made appropriate game recommendations and whether customers bought them. The answer? Yes and yes—but consistency varied by location.

Thought Leadership

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