![]() ![]() Tracking this basic Retail KPI helps you to measure the efficiency of your sales methodology and clarity of the offering. The Conversion Rate measures the percentage of clients that visit the store and end up buying, in other words, becoming a ticket. ![]() Conversion RateĬonversion Rate = Number of tickets / Number of visits x100 Having a record of all the visits received in the last months and years allows us to predict the future traffic of the store, compare it in between periods and make decisions such us running campaigns during low traffic periods to increase the flow of customers or redistributing the schedule and task planning of our staff in order to improve productivity and business performance at peak traffic hours. That is why increasing our store traffic must always be within our goals. ![]() It has to be with to all the clients that put a step on your sales point, whether they buy something or not. One of the main basic KPIs, that help us to know other results of our business, is the Footfall, also known as the store traffic. In order to talk about them, we will first review the four most basic KPIs to track and measure sales efficiency: In this article we are sharing with you two retail KPIs that are composed of the basic KPIs which, from our point of view, are essential to measure and optimize, and which are not so commonly monitored. In the heart of data, we find the KPIs (Key Performance Indicators), that allow us to track our business to improve decisions making and be able to carry out an excellent execution of a defined commercial strategy, increasing sales and maximizing the results of each sales point. In fact, according to Aberdeen Group, “Data Driven Retailers” are far more successful than other retailers. Using data in order to improve business decisions has gone from being an opportunity to a real need. The consumption pattern is changing, accelerated even more by the pandemic, the constant emergence of new disruptive technologies to be closer to each other and better understood by the consumer, and the pandemic itself, which has hit the sector hard, has plunged the retail industry into a deep process of change and transformation. Today, the retail sector is probably one of the sectors that lives the most accelerated transformation process of them all. Valoración post Recognize which are the most important retail tracking KPIs to increase your store performance ![]()
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