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Module 2

Module 2. Clients name and logo. Agenda. Why Count? What’s the benefit? The Retail Equation Reporting What do you do when you’ve Counted? Impact on your Business Impact on yourself Impact on the Customer Summary. Why count?. Improve sales and generate incremental profit

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Module 2

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  1. Module 2 Clients name and logo

  2. Agenda • Why Count? • What’s the benefit? • The Retail Equation • Reporting • What do you do when you’ve Counted? • Impact on your Business • Impact on yourself • Impact on the Customer • Summary

  3. Why count? • Improve sales and generate incremental profit • It enables you to make decisions to improve your business • Allows you to analyse missed opportunities and establish true potential • Footfall is a leading indicator of future sales

  4. What’s the benefit? • Improve conversion rates • Evaluate the effectiveness of marketing • Maximise staffing levels • Identify trends • Increase Average Transaction Value (ATV) • Improve Customer service • Monitor Customer Flow • Measure and benchmark

  5. The Retail Equation How do you identify what factors contribute to your sales? • traffic that enters your store • conversion ratio • average transaction value Trafficx % sold x average transaction value = Sales

  6. Reporting • Provision of data • Quantifiable measurements • Meaningfully ‘wins’

  7. What do you do when you’ve counted? • Establish Key Performance Indicators (KPI’s) • Implement change • Communicate sales results to all levels • Improve accountability

  8. Impact on your Business • Increased sales and related margin • Inflated ATV • Key Performance Indicators (KPI’s) • Variation of working hours

  9. Impact on Yourself • Increased earnings • Extra bonus/incentive • Identification of ‘missed opportunities’ • Self analysis • Flexibility of working hours

  10. Impact on the Customer • Improved match of staff to customers • Sales people available for help • Reduced time spent at till point • Advice on product features and benefits • Comprehensive recommendation of other products

  11. Summary • Commercial sense • Maximising ability to operate profitably • ‘Making the most of what you’ve already got’

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