KPIs – Share of repeaters

Your share of locals is quite comparable to your share of repeaters as a matter of fact – at least somewhat… There are factors like the overall brand desirability and coolness factor making customers come back, there especially in fashion is the need to go with it and to constantly change your look in these […]

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How to increase the Share of Locals

Your local customers are the backbone of your operation and even though you might heavily rely on tourists in your success, do not forget them. Some years ago due to SARS a wicked desease causing the death of many people, international travel dropped to almost zero, during several months. The same happened in the weeks […]

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KPIs – Discount

If you are in a company where you do not grant discounts at all – bless you and skip it. For the rest of you it might come in handy to understand discounts and howt to limit them. Again here I give only the management side of it the content on actually how to limit […]

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KPIs – Units Per Transaction

This KPI is most appreciated and tricky if you are a watch or car brand for instance, but even there it is possible… In fashion jewellry and other industries it is my favourite indicator telling about the capabilities of a sales person. It differs from thos who give the client what he/she wants and those […]

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KPIs – Average Price

Hi there! I think for this one everything is quite clear – The success here depends on you and you only. The whole KPI is a measurement of your ability to seduce people and this in various ways. Of course also it is again about you managing your team towards excellence. So however you twist […]

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KPIs – Transformation Rate

Let’s continue with the most important and most fun KPI there is -Transformation or conversion rate As much as I hate to say it if this one is bad – it mostly is up to and your team. Whereas bad means underperforming within your peers. Of course there are huge differences between industries and also […]

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KPIs – Traffic

Let’s start with the most difficult – traffic Traffic largely depends on criteria you do not control at all: desirability of the brand desirability of the product place of the boutique socio-cultural and socio-economic factors Remembering the circle of influence – which one of the above do you control? – precisely: none. Hands on Boutique […]

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The retail equation

The last time we talked about why you should love your KPIs, what KPIs in retail exist or at least should exist and what they stand for. Today I want to emphasize on the need of truly understanding them – besides the fact that they are elementary for your turnover they also are undispensible for […]

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