What Are Your Store’s Key Performance Indicators? | Retail Today With Bob Phibbs, the Retail Doctor - Flash Briefing

Do you know how to tell if your store is healthy? Well, there are certain key performance indicators that your POS system probably has but maybe you don't look at every day. The most important are the average number of items going out the door. That's the one that your crew can most impact. So, if they've got a 1:1 or 1:2, essentially you have people who are clerking whatever people come in and ask for, and that's going to cost you money. Then, look at how much they sell per hour, because frankly, it's got to be a benefit, right? They're selling much more than what you're paying them. Finally, look at the number of rings you have on the register per day, and track that, because even if you have slower traffic, if you have a traffic counter, you still want to look at how many times somebody made a sale, because maybe the conversion rate is really low. Key performance indicators, we call them KPIs, offer a wealth of how well your employees sell your merchandise. You just got to look at it. So, take a look today. If you love what you heard on Retail Today, connect with Bob by visiting retaildoc.com or send a message to [email protected]. Thanks for listening!