A retailer will know how their business is performing by keeping track of a quantifiable factor called Key Performance Indicators (KPI's). It's important to note that different retail KPIs to cover can track colourful pretensions. For most retailers, the primary objective to be reached is adding Year on Year profit. Still, retailers can also track other areas of their business, similar as average sale value, COGS, units per transaction, and online Vs in- store deals. Overall, retailers with the help of KPIS' can figure out the negatives in a business strategy, areas of prospects, and areas of strength.

About the author:

Ramesh Venkatachalam who has done his MBA from the UK, is a Retail Management expert with over 4 Decades of experience having worked in INDIA, UAE & The UK, with leading Brands such as Timberland, The North Face, Columbia, Under Armour.

Ramesh has also been involved in mentoring and guiding Entrepreneurs and Businesses across the Globe. He is currently based in Bangalore, India and is the Sole Proprietor and Principal Consultant of "Retail Performance"

For any advise or consultancy on Retail Management, reach out to ramesh@retailperformance.in