Since 2004, we have been compiling footflow data for our area, which has proven of much benefit to businesses.
To enhance this data we are creating a Sales Index quotient, to demonstrate whether the number of people passing through our area directly relates to spend. This sales performance indicator will also be particularly useful when analysing the effect of events that take place within or close to our area such as Oxford Street VIP days, Film Premieres and of course West End Live.
We would like to invite and encourage all Heart of London food and beverage vendors and retailers to join and support the Sales Index, of which is due to be launched early July.
This will be an additional service provided by Heart of London Business Alliance for our members. We currently have 20 Heart of London businesses signed up to submit specific data to our Business Partner, Springboard, who will be collating this data for our Sales Index.
To join this Sales Index, Springboard will require two % ‘change’ figures each month; the % difference in sales from the previous month and the % difference from the same month in the previous year. At no point will you be asked for any actual sales figures. Please be assured that all information provided to Springboard will be done so in complete confidence; Heart of London Business Alliance only have access to the collective sales data.
In return for your participation you will receive a monthly update from Springboard of the Heart of London Sales Index. The report you receive will be bespoke to your business comparing your businesses’ % sales increase/decrease with the Heart of London areas’ as a whole. We are confident that you will find this strategic information useful. Retail businesses who participate in the established West End Retail Sales Index find their bespoke reports of great benefit.
Our aim is to have all key players in Leicester Square contributing to this data so we can provide factual information on the affects of large events on the area.
If you have any queries or questions please contact Jeremy Brown, Business Support on 020 7839 3409 or email Jeremy.brown@heartoflondonbid.co.uk.
We look forward to publishing the first report in early July.