The Art of Selling a Lifestyle Brand
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Transcript of The Art of Selling a Lifestyle Brand
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The Art of Selling a Lifestyle B
Retail KPI's to Achieve Your Goa
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MEASURABLE GOALS ARE ACHIEV
HOW DO WE MEASURE RETAILS
PERFORMANCES?
KPI
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WHAT IS THE MOST IMPORTANT KPI?
SALESAchieving our target sales goal has to be an OBSESus every day of the year!
Sales are the results of :
NET SALES
FOOT FLOW x CONVERSION RATE x AVERAGE TRANSACTION
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CUSTOMER SERVICE KPIS
1. FOOT FLOW
2. CONVERSION RATE
3. U.P.T.
4. AVERAGE TRANSACTION VALUE
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HOW IS THIS MEASURED?
To measure FOOT FLOW, your store will need to have
counter installed at the entrance (software or manual system
FOOT FLOW is measured by the total number of visito
entering the store.
FOOT FLOW
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WHAT ARE THE VARIABLES THAT CAN INFLUENCE FO
Store accessibility
Exterior general appearance and window displays Impact of the window display
The customers expectation of our level of customer service
Effective local PR & Marketing activities
Development of customer loyalty
Impact of Trade & Retail Marketing campaigns National Holiday or Events (i.e.: Bank Holiday, National spo
Word of mouth of your general customer service standard
Major local events (i.e.: Music concert, political demonstratio
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WHAT ACTIONS CAN BE TAKEN TO INCREASE THIS
The door is always open
Keep the entrance Clear
Keep things clean and in good repair
Capture passers-by and browsers attention
Give them a reason to return!
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IF YOU GAIN YOUR CUSTOMER
LOYALTY THEY WILL VISIT YOU
STORE AGAIN AND AGAIN
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CONVERSION RATE is the total amount of customers
come into your store compared to how many really buy
something.
CONVERSION RATE
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Store A
100 people 15 transactions 15% con
Store B
100 people 6 transactions 6% con
HOW IS THIS MEASURED?
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HOW CAN WE INFLUENCE THE CONVERSION RA
Yourconversion rate can be affected by a number of factors
Level ofFoot Flow:
Low Traffic Stores
High Traffic Stores
Floor Coverage
Floor Replenishment
Product Knowledge
In Store Merchandising
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WHAT ACTIONS CAN BE TAKEN TO IMPROVE THIS
Work the floor
Better planning of your floor coverage
Hold a morning meeting
Customer service training
Individual targetsReplenishment and stock rotation
Give feedback
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1 Point
Conv Rate
Last PartFY12
NexF
+ 10 Million
Sales
+ 24
S
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CONVERSION IS DEPENDANT O
YOUR STAFFS ATTITUDE
YOU AND YOUR STAFF MAKE THEDIFFERENCE!
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UPT is absolutely key to driving and maxsales opportunities at your store.
UNIT PER TRANSACTION indicates how many ite
been sold to the same customer.
UPT UNIT PER TRANSACTIO
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HOW IS UPT MEASURED?
The formula below is used to calculate your UPT. It is m
Units (quantity sold for each transaction):
PeriodNumber of
units sold
Number of
TransactionsUPT
Daily 150 100 1,50
(150/100 = 1,5 UPT 1,5)
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WHICH ARE THE VARIABLES THAT CAN INFLUENCE T
Level of customer service
Floor coverage
Replenishment
Product knowledge
Total look Visual Merchandising
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WHAT ACTIONS CAN BE TAKEN TO IMPROVE THIS
Your presence on the shop floor
Product training
Total look Visual Merchandising
Issue daily individual sales target
Regular replenishment
Ensure your staff is respecting the dress code according to the curren
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0,5 UPT
Last PartFY12
NexF
+ 3 Million
Sales
+ 8
S
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ENSURE YOUR STAFF IS THE
IDEAL STYLIST BY CREATING
OUTFITS EACH TIME THEY SER
A CUSTOMER!
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AVERAGE PER TRANSACTION indicates on averagcustomer spends at your store.
PeriodValue of Net
Sales
Number of
TransactionsAVT
Daily 12.000 100 120
(12.000/100 = 120 AVT 120)
AVT AVERAGE PER TRANSACT
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WHAT ARE THE VARIABLES THAT CAN INFLUENCE
Quality customer service
UPT
Stock replenishment
Staff product knowledge
Visual merchandising
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WHAT ACTIONS CAN BE TAKEN TO IMPROVE THIS
Price point knowledge
Always create added value
Revise visual merchandising
Product knowledge
Floor replenishment
Increase UPT
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ENSURE YOU GIVE YOUR
CUSTOMERS EXCEPTIONAL
VALUE FOR THEIR MONEY!
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0,5 UPT
Last PartFY12
NexF
+ 13 Million
Sales
+ 32
S
1 Point
Conv Rate
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