Key Retail Metrics
High-performance retailers regularly review their key retail metrics to unlock new potential for their businesses. Are you using these metrics to improve your store operations?
In this webinar, sponsored by Epicor, join NHPA's Dan Tratensek and The Farnsworth Group's Jim Robisch to learn how to evaluate (and boost) the success of your business through key retail metrics.
What You'll Learn:
-Discover the four metrics retailers are tracking to streamline their operations.
-Gain insight from Epicor on how you can use your POS system to gather data and better understand these metrics.
-Explore new ways you can raise your key retail metrics.
4 Metrics We Will Cover:
Conversion Rate
Conversion rate offers a direct view into customer engagement. A relatively simple metric, conversion rate can be analyzed daily, monthly, quarterly or annually to determine the success of short- and long-term projects and promotions.
Occupancy Costs
Occupancy costs reflect the day-to-day reality of doing business out of your current location. This key retail metric represents a sliding scale: What you give up in one area of occupancy costs, you may have to repay elsewhere.
Employee Productivity
There are many ways to measure employee productivity; each formula allows you to see how your staff is performing over a given period of time. Insight into employee productivity allows you to solidify your scheduling and ensures you meet customers’ home improvement needs.
Marketing & Loyalty Program Engagement
Evaluating how effectively your marketing and loyalty programs engage your customer base is crucial for modern home improvement success. Beyond enticing customers to shop your store in person or online, these tools also deliver powerful customer data to guide your business.
