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FACTBOX-Sizing up retailers' performance as online sales surge

NEW YORK, Dec 23 (Reuters) - As online shopping upends the retail business, many Wall Street analysts say traditional measures such as counting the number of people who visit stores on major shopping days are no longer a reliable gauge of a company's performance.

Below are some of the newer methods that retail analysts are employing on the job, as well as some traditional ones.

NEWER TACTICS

* Subscribing to retailers' emails to closely monitor promotions, flash sales and doorbuster deals

* Counting the number of Instagram-led fashion brands in retailers' stores and online

* Examining e-receipt data provided by consumers, recording when a customer was at a store and what they bought.

* Forming partnerships with third-party data analytics firms measuring things such as website visits and social media sentiment for a more holistic view

* Counting the number of "off-price" stores in a retailer's fleet

* Counting the proportion or number of millennials and Gen Z customers shopping at the store

TRADITIONAL MEASURES

* Same store sales

* Sales per square foot of retail space

* Counting cars at malls and in retailers' lots

* Foot traffic

* Average selling price, calculated by dividing net sales by the number of products sold

* Average basket size, or the average number of items sold in a single purchase, calculated by dividing total number of units sold by the number of invoices

* Transaction velocity, or the rate at which transactions occur at a store or online

* Conversion, or the proportion of people who visit a store or browse a website and ultimately purchase a product. Field teams typically make estimates by observing traffic in stores.

* Analyzing credit card data, compiled by companies such as MasterCard

(Reporting by Melissa Fares in New York and Nandita Bose in Washington; Editing by Kirsten Donovan)