Around 440 BC, Socrates, the father of western philosophy, used to wander around the public square in Athens challenging the people he met about how they lived their lives. If they held a particular point of view, he would question it to draw out contradictions and ultimately lead them to challenge the perceptions they held.
For example, he famously challenged two soldiers, Nicias and Laches, about the notion of bravery. It is to stand firm in battle, they told him. But could one ever be courageous and yet retreat in battle, asked Socrates, or stand firm in battle and yet not be courageous?
As journalists, my team challenge the information around us and how we use it every day. We want you to do this too.
With PayPoint’s commission cut dominating headlines for a third straight month, the service provider still stands firm that “its real benefit comes from additional footfall and sales they generate”. But retailers say this, and especially its £7.66 average basket spend figure, simply isn’t true.
So RN has put it to the test and carried out a data project using 90 c-stores’ EPoS data to measure exactly what is driving profitable footfall into your stores.
You can be sure that when a company commissions data in order to sell its goods, the results are rarely negative
You know what they say about lies, damned lies and statistics, and you can be sure that when a company commissions data in order to sell its goods, the results are rarely negative.
We carried out our data project to give you the tools to make decisions to run your business effectively. The results were fascinating, not least the discrepancies with PayPoint’s footfall figures.
I hope you use it to challenge the perceptions you hold about your footfall drivers, the value they bring to your store and how you use them to their true potential.