The retail industry is highly competitive. It is one of the fastest growing industries worldwide.
Based on the 2015 Global Powers of Retailing Report, the US has
seventy-six of the world’s largest retailing companies. With the growing number of retailers, staying on top will be a tough job.
Retailers who want to rise above their competitors must know all the details about their company. This is where a Key Performance Indicator (KPI) comes to place.
KPIs are helpful in evaluating and monitoring a company’s performance in achieving certain targets or goals. KPIcan also help retailers come up with right business decisions.
Having a KPI dashboard which contains the right data at the right time can help improve the productivity and performance of your company.
While there are many KPIs that a retailer can keep track of, we have compiled ten of the most helpful KPIs for any retail business.