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I would agree with Mr. Ahmed's answer .. Thank you
Driving and maximize sales
Reducing cost
Achieving shrinkage
leading store team
mangling store stock , etc...
Sales figure, UPT, ATV, CR
Key Perfomance Indicater : sales target / conversions / Asp / abv / upt as set goal vs acheived for the period define in as Quarter or financial year.
Key performance indicator is fullform of KPI
set to define measures the concept/brand uses compare individual performance
How many customers visit store and how many customers execute transactions and lastly, how many customers visit and repeat transactions.
increase sales & customer satisfaction
Most popular KPI-s in fashion Retail Stores are:
CR-conversion rate, ATV-average transaction value, UPT-units per transaction, WSR- wage to sales ratio, PPH productivity per hour, sales and margin per square meter, ADS average daily sales, CRM capture
KPI for fashion retail stores:
- It varies from one store to another store
- Based on the brand the fashion store selling KPI will be design for individual staff and store manager
- Achievement of Actual Sales Vs Budgeted monthly / quarterly / yearly as per the business plan of the company
- Peformance evaluation on a monthly / quarterly / yearly basis
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A KPI, or Key Performance Indicator, is a metric used to measure performance. Retail stores use various KPIs to measure their activities. There is no particular set of KPIs that every retail store must use. Retail stores need to pick the right KPIs based on the outcome they want to achieve or their strategic goals. For example, one retail store might want to manage their inventory better, so they would use KPIs like inventory to sales ratios or inventory integrity. On the other hand, another store might want to enhance the customer experience, so they would choose KPIs like customer satisfaction and customer retention.
