store performance audits & analysis

needless to say that store performance is ultimately what drives profit, and is the result of many store delivery elements as well as the product assortment itself.

it is essential to understand what elements of your store delivery directly contribute to your store performance KPIs, to invest in these and to deliver them with absolute best practice

store-performance

What can we do for you?

  • need to know what really drives your store performance?
  • how well is the assortment delivered displayed & maintained?
  • does your environment help or hinder sales performance?
  • what elements of your store experience really drives sales?
  • where should you focus for maximum ROI in your stores?

This is how we help…

store-performance-audit

3.      Store Performance Audits & Analytics

 

“How can I assess what store elements and store touchpoints are directly relating to increased sales and other store KPIs?” 

Overview:

Detailed analysis of the store elements/touchpoints directly related to the sales performance KPIs

  • Examine the store layout spatial relationship between store elements and touchpoints and KPI performance in the same store area – department.
  • Examine several client test stores to identify delivery & performance relationships
  • Produce traffic light measurement of quality of touchpoint value by dept/category
  • Produce traffic light measurement of sales performance KPIs by dept/category
  • Produce correlation between touchpoint delivery and KPI performance
  • Generate “Performance Index” for touchpoints and families of store elements

Benefits:

  • Identify the direct relationship between store elements & touchpoints and sales performance KPIs – conversion, transaction value, items per basket, total sales…
  • Identify the element/touchpoint delivery features that stimulate performance
  • Rank impact of individual elements/touchpoints to KPI success
  • Prioritise investment on selected store elements/touchpoints by department/category

Process:

  • Selected client store visits
  • Interviews with HQ stakeholders including marketing, store design, sales, store operations, VM and merchandising
  • Interviews with store staff and “snap-shots” of customer comments/reactions
  • Detailed analysis of store performance KPIs, by department, category and spatial grouping
  • Client presentation workshop

Aggressive Actions (from a potentially long list…):

  • modify and improve those store features and elements which are proven to directly relation to increased store performance
  • adapt densities of displays and display techniques
  • boost customer service in specific areas
  • change layouts to increase visibility of essential propositions
  • remerchandise the store first 1/3rd
  • change the location and delivery of promotional communication

 

5As-audits-analysis-answers-aggressive-actions

 

For more information on how the store performance audit can help.

tim radley - CEO, VM-unleashed.ltd

 

Please get in touch. We’ll be happy to help & advise…

+44 (0)7967 609849
tim.radley@vm-unleashed.com

 

 

 

 

Comments are closed