KPIs for retail

Managing your supply chain is critical to ensuring that your inventory is at optimum levels and costs are under control. It is vital to know which items are selling and which are not. Business intelligence (BI) software enables supply chain, logistics, and sales information to be gathered and analyzed with greater ease than ever before. Your KPI Dashboard makes accurate, data-driven, real-time information visible to those employees who can manage the business to meet your objectives.  You can manage inventory in transit, in the warehouse, and on the shelf.  You will be able to effortlessly monitor important retail KPIs relevant to every aspect of your organization.

Consolidate all metrics in a single dashboard

Conversion rates

This KPI Dashboard template will help you to know how successful your organization is at converting shoppers into customers.  Having this information will help you to understand which areas need attention before it's too late.

Audience: Executives, Managers
Calculation: Number of Visitors / Number of Customers

Sales per square foot

Average purchase value

This template indicates the average value of each purchase. This information can provide additional insight into the purchasing habits of your customers or lead you to dig deeper into the details to determine how to increase the APV.

Audience: Executives, Managers, Sales Associates
Calculation: Total Sales Revenue / Number of Customers or Transactions

Cost of goods sold

When what appeared to be a thriving retail business closes its doors, you realize that it didn't cease to exist because of lack of sales.  It probably died as a result of the inability to make a profit.  Literally hundreds, if not thousands, of once existing businesses would still be operating, if only they had been able to manage their costs.  Here is your opportunity to keep that information in front of you.

Audience: Executives, Managers
Calculation: Beginning Inventory + Purchases - Ending Inventor

Online versus in-store

Incremental sales

You've got to understand which promotions work and which ones don't.  When combined with additional data captured on your KPI Dashboard, you will be able to plan and execute sales events more successfully.

Audience: Media/Ad, Managers, Executives
Calculation: (Revenue generated by marketing initiatives - Baseline sales)

Customer satisfaction

One of the hardest things to measure is customer satisfaction.  It is often too subjective to adequately measure and it takes too long to gather the information in order to use it effectively.  This template can keep real time customer satisfaction details visible to your entire team.

Audience: Executives, Managers, Sales Associates
Calculation: Rate the responses of customers for a given question

Out of stock items

Inventory to sales ratio

Carrying too much inventory can be just as crippling as having too little.  Setting, and performing to, optimal metrics will make profitability much easier than unnecessarily tying up your money in too much inventory or losing sales because of having too little.

Audience: Executives, Managers, Sales Associates
Calculation: Average Inventory Value / Average Sales Revenue