Sales

Sales in retail today is omni-channel and it's important for retailers to focus on all of them, as customers' preferences vary and some time the same customer may buy via different channels. Retailers today focus on providing seamless experience to the customers, irrespective of channels.

For offline or retail stores, the aim is to improve efficiency and reduce operating costs. To provide good experience, the stores have got to have polite and efficient staff, and stores layout have to be attractive. The retailer wants to improve sales productivity across channels and across sales representatives. The stores need to be planned in perfect locations and should be easily accessible to the customers.

Online sales is very competitive and it's very easy to lose a customer to competitor. Providing easy and fast experience, coupled with quick delivery and flexible payment options, is important to keep the customer interested and make him/her return again. Some of the KPIs and the use cases which the sales looks at are mentioned as follows:

KPIs
  • Sales versus budget across time, channel, product, and geography (measure sales performance across multiple dimensions)
  • Labor costs as a percentage of sales (helps understand costs and plan pricing)
  • Footfall versus average sales per transaction (understand customer behavior and plan strategy to increase average sales per transaction)
  • Return analysis across product, channel, time, and geography (understand reason of product returns across multiple dimensions)
  • Returns as percentage of sales (understand if returns are high compared to sales)
  • Sales margin analysis across product, channel, time, and geography (profitability analysis across dimensions)
  • Inventory analysis (helps plan promotions and pricing)
  • Shift analysis (understand and plan number of people in shift)
  • Customer service feedback analysis (helps understand feedback and strategise on areas of improvement)
  • Target versus actual delivery times (analyze deliveries and how it impacts customer satisfaction)
Use Cases
  • Omni-channel analytics
  • Revenue and profitability management
  • Sales productivity management
  • Budgeting, planning, and forecasting
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