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James Dion: Measuring For Success: Retail Formulas

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Published on Apr 23, 2009

Metrics matter! What gets measured gets changed and what gets rewarded gets done. If you dont measure it, you cant change it and if you dont reward change it will not happen.

So, what is it that your retailers need to measure and what will be the benefits of looking at these numbers? Sales (increase, per hour, vs. LY), Gross Profit and Margin (4 levels), Turnover, Stock to Sales Ratio, GMROII, Average Transaction, Items Per Ticket, Conversion Rate, Sales Per Sq Foot, Sales Per Employee. All simple measures and yet powerful indicators of the health of a business and its potential for growth.

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