Market share is a largely ignored performance metric for retailers, not because it isn’t valuable, but because it isn’t accessible. Typically market share metrics are sourced from quarterly reports where data is stale, limiting actionability.
The ability to measure market share in real-time will disrupt the way retailers determine the success of the marketing efforts. Today, retailers measure performance in various ways including return on ad spend (direct response), and in-store sales (branding, promotional). By measuring market share, retailers are able to take a macro view on their marketing efforts that expands beyond their brick and mortar walls.
Quantifying performance by market share allows retailers to look at the entire retail ecosystem, versus a siloed approach to marketing. By using market share as a key metric it allows retailers to optimize to gain share of wallet. Understanding market share allows marketers to build campaigns to capture the $1.44 spent at competitors for every $1 spent with them.
Wireless Carrier Retail Stores - Market Share
- Verizon and AT&T wrestled for the top position in terms of wireless carrier store visits in the last six weeks of the holiday shopping season. AT&T held the lead 4 out of the last 6 weeks.
- T-Mobile started and ended the holiday shopping season 4th in market share, but quickly closed the gap and at its peak came within one percentage point of Sprint (#3).
Big Box Retailers - Market Share
- Nearly 2/3 of visits to the largest big box retailers during the holiday season were at Walmart (65.4%), followed by Target (26.1%) and Kmart (8.6%).
Department Store - Market Share
- 1/3 of visits to the largest national department stores during the holiday season were to Kohl’s (32.3%), followed by Sears (26.7%), J.C. Penney (22.0%) and Macy’s (19.0%).
David Shim is the Founder and CEO of Placed, the leader in location analytics. By connecting the physical and digital worlds, Placed has created a new class of analytics focused on location. Prior to Placed, David has held leadership roles in product, marketing, and operations at Quantcast, WebTrends, Farecast, and Razorfish.