Even with stores reopening and slowly getting to a new normal, so much remains unknown that it is nearly impossible to utilize comp, LY or trending periods to gauge performance or create 30, 60, and 90-day sales plans. To succeed through the rest of the year and in early 2021, retailers will need to identify and monitor the right KPIs to truly gauge the effectiveness, and solvency, of each store across their fleet.
Listen to the recording where Store Operations veteran and Effective Retail Leader blogger Chris Richardson, along with Blueday’s CEO Graeme Grant, provided their insights on how to:
- Define the right store performance efficiency and effectiveness KPIs for your business
- Set the best reporting cadences
- Organize data so that it can be interpreted and actioned in real-time
- Utilize qualitative and quantitative data to set the right labor budgets and sales goals for 2021
- The best ways to set labor budgets, schedules, and daily action plans that empower stores to do more with less
About the Presenters:
Chris Richardson is the author of the Effective Retail Leader blog and has over 30 years of proven retail leadership experience including talent development, streamlining operational processes, and delivering consistent results. His experience as an executive leader includes both corporate and field based roles, where he has been directly responsible for more than $1 Billion in annual sales in addition to multi-state store networks.
Graeme Grant is currently CEO of Blueday Inc. Graeme has spent the past 20 years applying advanced technology to solve critical retail business problems. He has held leadership positions with Salesforce Commerce Cloud, Demandware, and Oracle Retail and has been a key driver of several successful retail-focused start-ups. He helped found CQuotient a predictive intelligence company acquired by Demandware; was an early employee and leader at ProfitLogic which pioneered algorithmic modeling for retail and was acquired by Oracle; and a top executive at Allurent, a groundbreaking merchandising solution for online retailers. Early in his career, Graeme was Director of Digital Convergence for Borders Group Inc.