Retail, 20 metrics & KPI
Before dashboard creation, it’s important to define metrics and key performance indicators (KPI). Which of them will you use into your dashboard? This choice depends on your function, your strategy and your market. Difference between metric and KPI is objective. A KPI is a metric with an objective, a status and one or more trend(s).
You can use these metrics and KPI for strategical, tactical or operational dashboard. Context and filter will define the level. Be sure to develop your dashboard according on your organizational strategy and with business team, retail analysts and managers.
There are others metrics and KPIs for retail trade. I’m listing some KPIs that I often implement for my clients.
Retail Metrics and KPI list
I propose to present 20 metrics and KPI for retail trade:
Gross profit year-to-date
Sales growth year
Total number of stores
Stock turnover days
Customers per hour
Margin per customer
Number of items
Transaction cancel amount
Transaction cancel count
Transaction cancel percentage
Item gross profit
To calculate these metrics and KPI you need to have access to your data: management system, payroll and HR system, accounting system, POS, CRM, ERP systems.
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