Findings from the Retail TouchPoints sixth annual Store Operations Survey reveal that KPIs in retail are still staggeringly siloed by channel.
Senior retail operations leaders surveyed for the recent report revealed that traditional metrics of YoY store revenue and same-store sales are overwhelmingly relied on for performance evaluation.
What are your most effective ways to measure store performance?
- 70% Increase in YoY store revenue
- 65% Same-store sales
- 17% Foot traffic
- 16% Customer satisfaction surveys
- 13% In-store conversion rates
- 7% Online-to-store conversion rates
Methodology: Respondents were asked to rank twelve major retail KPIs in order of effectiveness, on a scale of 1-12. Listed above are the top six, with the percentage reflecting rankings of 1 or 2.
These results highlight that the effect of e-commerce on in-store conversion is not a widely-adopted performance metric, despite the ubiquity of omnichannel in the overall retail customer experience.
With a new year upon us, is it time for omnichannel retailers to update their performance metrics? Relying on traditional data points can put retailers at a disadvantage, potentially contributing to misallocated resources and unintended competition between online and store channels. Read more in the Retail TouchPoints Store Operations Survey report.