Retail World

How to analyze important data?

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Owning a lot of data does not automatically mean being successful: it is necessary to know the main KPIs of your activity, in order to take advantage of their use.

What key performance indicators can help us improve our business?

  1. Buy less and better
    Buying less (and better) is one of the keys to a store’s success. To do this, you need complete control of sales and inventory. It is essential to have an excellent management software that helps us to control every single product, sales and revenues.
  2. Optimize spaces
    Every square meter of the store has a cost: leasing, maintenance, staff, lights … To get the maximum profitability per square meter, you need to know how your customers move in the store, which products attract them most or which categories they carry more benefits to your business.
  3. Increase sales!
    Once conquered by customers, the goal is to encourage them to buy more (upselling and crosselling) or more frequently. You have to check the average ticket and find out which products tend to be bought with others.
  4. Improve the experience!
    If you want your customers to be more loyal and tied to your brand, you need to know them better. Explore satisfaction survey results. Discover the favorite products of people who are part of your customer club.
  5. Excellent Staff
    Having little staff is wrong as having too much. To manage the shifts of certain seasons, it is necessary to know which is the staff optimal number for each point of sales.

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