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#Sizewise envy retail how to#
#Sizewise envy retail software#

Net sales / number of employees Why measure retail sales per employee? You can easily measure it using this equation:

Sales per employee is a measure that comes in handy when you’re planning your staff’s schedules and initiatives.

#Sizewise envy retail how to#

Related: How to Increase Retail Sales per Square Foot and Improve Store Productivity 2.

Encourage people to stay longer in your shop.

The right sales and retail productivity tactics will depend on your store, but here some general tips for improving your sales per square footage: How do you improve your sales per square foot? Here’s a look at the average sales per square footage in different retail sectors: You can use this metric when planning your store layout and merchandise.Ĭertain stores and industries make their sales per square foot public, which means knowing this metric will help you determine how your business compares with others. Retail sales per square foot is a good indicator of store productivity, and it can also tell you if you’re making good use of space and fixtures in your shop. Net sales / amount of sales space Why measure your sales per square foot? You can calculate your sales per square foot using the following formula: (Note: this doesn’t include fitting rooms or stockrooms.) This metric pertains to the amount of sales you generate per square footage of sales space in your store. Sales are the lifeblood of any retail business, so it’s critical that you keep a close eye on them. With that said, let’s dive into the metrics! Sales metrics and KPIs Doing so will save you time and help you gain the insights you need much faster.

#Sizewise envy retail software#

You should certainly know how to calculate various metrics and KPIs, but in real-world applications (particularly if you’re running a fully-fledged retail business), it’s best to use a retail software solution that crunches the numbers for you. And while we think this is a great starting point to understanding what to track in your retail biz, we’d be remiss if we didn’t mention retail analytics and reporting. Note: In the following paragraphs, you’ll see a quick description of each retail metric and the forumula to calculate it. In the points below, we’ll dive into the specific KPIs you should be looking at how to use them. They’re called key performance indicators for reason: they help you gauge your performance, so you can decide on the right course of action.ĭepending on what you’re measuring, KPIs help you see where you’re at in terms of sales, inventory movement, growth, customer satisfaction etc. Generally speaking, KPIs are used to determine if you’re meeting your goals. Each retail business is different, so specific measures may be more significant to you than others.īut to help point you in the right direction, we’ve compiled the top retail metrics and KPIs to track in your business, along with the formulas and methods to calculate them. What metrics should you look at? That depends. These are numbers that you must regularly monitor so you can determine if your business is on the right track. KPIs - aka “key performance indicators” are the most important metrics in your business. Go through your sales, inventory, and customer data to see if you can figure out how you can improve. Numbers don’t lie, so if you find yourself at a loss with what’s happening in your business, one of first the things you should do is look at your retail metrics and KPIs. You’ll also see why having a solid retail analytics and reporting platform is a must.You’ll learn all about the formulas to use to calculate various metrics.This post shows you the top retail metrics and KPIs to keep an eye on.Quick take: There’s a lot of value in trusting your gut, but you need to combine your insticts with hard facts and data.