Smart Retailers Dramatically Improve Sales Performance Using Key Performance Indicators (KPIs)

Retail Performance Methodology is based on key principles adopted and tailored by retailers to gain competitive advantage and improve sales performance.

The basic principles of a successful Retail Performance Management Model will:

1. Instill a customer focused, sales oriented culture throughout the organization

2. Introduce a methodology for setting standards, tracking, measuring and reporting results, identifying under performance and coaching for success

3. Bridge the gap between common sense and common practice
Create a World Class Retail environment where it easier for your people to succeed than to fail

4. Drive compliance with World Class Retail standards and practices.

Retailers' performance solutions include a dynamic blend of different consulting styles, training philosophies, coaching and mentoring. They provide customers with a proven methodology for driving retail success and the skills, knowledge and understanding to make it work, creating significant and sustainable increases in sales.

Knowledge Driven Success

Key to retail performance is the ability to measure actual versus planned individual sales and coach on undersupplied statistics. Retailers must be able to define Key Performance Indicators or KPIs, set targets, and measure the performance of individuals, stores and areas within the business.

The Retail Performance System should provide relevant reports at all levels of the company, highlighting areas of poor performance, recommending the specific actions required to improve sales and reduce wages. With the correct information, managers are able to take quick and decisive action that results in a more responsive business and improved results.

Retail Coaching KPI Measurement Methodology

Retail performance measurements must be broken down into two main categories to be effective at identifying specific areas of poor performance: Wages and Sales. These are the only two areas of expense and income within a Store Manager's control. Expenses such as stocking, rent, electricity, marketing etc, are managed by Middle and Senior Management not by Store Managers or Salespeople. Thus the solution to improving sales performance will focus on identifying only those critical factors that can be influenced by people working in the store.

Controlling Retail Staff Wages

A Staff Roster System must be employed to empower your front-line Store Managers to do weekly Staff Rosters within the framework of the company's strict wage budgets. Rostering within budgets is an opportunity to reduce operational expenditure