Create the Right Sales Goals and Labor Budgets for Each Store
It is hard to succeed when you’re set up for failure. Too often this is exactly the position Store Managers face when given sales targets that aren’t aligned to their store’s opportunity, or labor budgets that don’t provide the resources they need to deliver the results. Finance and Retail Leadership groups aren’t trying to make these mistakes, but they’re unavoidable when decision-makers don’t have the tools or the time to accurately allocate sales targets and labor budgets that match each store’s potential.
This is where Blueday’s Precision Budgeting tool can help. Backed by Blueday’s deep expertise in machine learning and retail, the Precision Budgeting tool helps Finance and Retail Operations pin-point sales goals and labor budgets for each store in the fleet.
Set Customized Sales Goals
Blueday identifies which stores are highly effective at selling and which can do better, providing Finance teams with specific recommendations on sales targets for each store. Managers are then better positioned to motivate and incentivize their teams to reach attainable sales goals.
Give Each Store the Right Amount of Labor
Stores will always want more labor, and Finance will always think that stores have too much. Blueday makes budgeting conversations more productive by using AI to determine which stores objectively need more labor and which stores have a surplus. The goal is to optimize chain results by finding the best allocation of overall labor investment for every store. Knowing that labor budgets and sales goals are aligned, Store Managers and Retail Operations can keep their focus on maximizing labor’s performance.
Create the Right Incentives for Each Store
Blueday combines AI with store data to ensure that sales goals are realistic and paired with the right amount of labor hours. With those two components aligned, store teams know they have the resources they need to succeed and are motivated to hit targets tailored to their specific opportunities.
Want to set smarter budgets and sales goals? Let’s talk.