Today, we will look at the most crucial question that all retailers ask: how to increase sales performance in physical footprints. This article is for anyone that is responsible for measuring and improving in-store sales performance, like store operations teams and retail analysts.
While some retailers are seeing decreased demand and customers shifting to online channels, others are facing astronomical spikes in demand. Grocery retailers, in particular, are dealing with significant out-of-stock situations on many key products as consumers hoover up supplies perceived to be essential. The ability to predict and manage demand has never been more important.
Most developed countries are overpopulated with fashion stores. If we had to hazard a guess as to what will change in the world of fashion retail post-COVID 19, it would be that the number of stores will decrease, but the quality of the stores on the high street or in your local mall is more likely to be improved.
An increasing number of countries have made wearing face masks mandatory in public, as governments attempt to slow the spread of COVID-19. Retailers can help staff and customers stay safe by tracking compliance with face mask policies in-store. Face mask compliance can serve as a useful operational KPI as retailers adapt their store operations to meet the immediate challenges posed by the 'Great Reopening'.