Locally Indirect Sales Impact: Helping brands quantify the indirect, yet significant, role digital interactions play in driving foot traffic and sales at brick-and-mortar locations.
The Locally Indirect Sales Impact (LISI) metric estimates how shopper engagements with Locally-powered tools, such as Product Locators and Store Locators, become in-store sales at dealers. By understanding these interactions, the metric reveals the hidden impact of leveraging the Locally platform, ultimately leading to purchases made in physical retail locations.
What It Tells Us:
The metric estimates how shopper engagements with Locally-powered tools, such as Product Locators and Store Locators, indirectly influence in-store sales at dealers. By understanding these interactions, the metric reveals the hidden impact of leveraging the Locally platform: driving purchases made in physical retail locations.
LISI is calculated by analyzing the correlation between shopper engagements (such interactions with store locators, product locators, store pages, and inventory searches) and subsequent inventory changes observed at local retail stores. Our model identifies which shopper engagement types are most strongly linked to inventory reductions at these stores, indicating a likely sale. We generate an overall impact score that represents likely in-store sales driven by Locally-powered interactions by applying these correlation-derived estimates to all logged shopper engagements.
How It’s Calculated:
The regression-based in-store attributable sales model is calculated by first estimating the average impact of Locally tools on in-store sales based on retailer inventory feeds. This allows us to determine the share of a retailer’s in-store sales attributed to a brand's Locally tools. We generate a regression model for each brand to establish the relationship between Locally impressions and these attributed sales. The coefficients from these brand-specific regression models are then applied to the brand’s engagement counts, producing an estimate of the brand’s total in-store attributable sales. In simpler terms, the LISI formula sums up the impact of all Locally-driven engagements across brands using coefficients from the brand-level regression models.
About Locally:
Locally creates an integrated shopping experience for consumers by bridging online and offline retail. With tech implemented by over 1,000 major brands, Locally is the industry leader in online-to-offline shopping solutions. Locally’s tools are powered by real-time inventory from over 47,000 retailers worldwide and are utilized by more than 60 million shoppers every month. Our Data Science team is able to leverage this data set to provide unparalleled insights into the impact of online engagements on in-store sales.