Retail Best Practices
Our retail consultant team amassed decades of experience during which we collected as much pertinent retail performance data and benchmark data as was reasonably possible. Our database of performance benchmark information coupled with publicly available information and custom benchmark performance data surveys permit us to provide an invaluable benchmark perspective to our clients comparing their performance against industry specific performance targets. We often utilize this database as a component of our process improvement effort.
The types of Benchmarking study information we can assist your firm with include: industry general, industry segment specific, operating metrics, and operational technique benchmarks. Any of these perspectives can be utilized to provide valuable insight into your organization’s performance improvement opportunities and provide guidance in structuring the efficient implementation of an improvement program – in conjunction with a chain-wide transfer process.
In order to provide examples of our benchmarking capability and display sample subsets of various types of benchmark information available you will find links to download sample benchmark output by clicking here. Additionally, a copy of our Benchmarking Whitepaper is available for download. Call us for more information.
Typical Benchmarking program deliverables include the ability to rank the performance of a given function in a credible manner that frequently includes a related performance improvement effort.
- At a regional Supermarket business we conducted a full performance improvement assessment that included benchmarking of key operational metrics. The perspective gained from the benchmarking permitted the retailer to re-align their operating practices and return the business to profitability
- For a national Specialty Apparel chain we identified key merchandising benchmarks that were utilized to structure and focus a total company improvement effort
- A national Specialty Store chain our team members performed a store layout and design benchmark study to determine how the chain ranked in new store opening efficiency
- We partneres with a well-known regional Supermarket chain to guide and conduct a department specific productivity and shrink study, accurately benchmarking the firm against other competitors in the industry. The focus created triggered a department focused shrink reduction effort culminating in a (recurring) shrink reduction in excess of $25 million dollars annually