A REVIEW OF THE CONVERSION RATE IN MONITORING THE MARKETING PERFORMANCE OF RETAIL WINE SHOPS

The success of a business can be evaluated by various performance indicators. Selecting the right key indicator for the marketing performance evaluation of a shop can often lead to the identification of potential improvements. For the evaluation of wine shops one of the most useful key performance indicators was identified as being the traffic conversion rate and the paper explains the possibilities to measure and calculate this parameter, its advantages and effectiveness. The objective of the paper is to integrate existing knowledge and findings about conversion rate, to highlights the implications and the advantages of this indicator in monitoring the marketing performance of physical (bricks-and-mortar) wine shops. The findings are drawn from literature review and is followed by analyse and discussion about the implications and the challenges of using the conversion rate indicator in practice. The paper is an overview of the conversion rate and findings reveal the importance of this indicator for assessing the marketing performance of the retail wine stores and the limits that generated lack of adoption on a large scale.