New retail aims to break the boundaries of the traditional retail industry, introduce advanced technology and digital means, comprehensively improve the user experience through the integration of online and offline channels, and achieve a more intelligent, efficient and personalized retail operation model. This model isn't just about selling productsMore focus on building a comprehensive shopping ecosystem.
Through the introduction of intelligent technology, new retail effortsImprove the convenience of shopping, provide personalized services and product recommendations to meet the needs of different consumers, change the traditional retail format, and make retail more flexible, intelligent and adaptable to market changesto create a new era of retail ecology that integrates technology and commerce.
In yesterday's article, we already coveredPromote businessRetailIntelligent transformationA comprehensive solution:
In the new retail era, promote the comprehensive upgrade of smart retail! It deeply understands the management challenges faced by the consumer retail industry and the key measures to cope with future trends, and puts forward the concept of "people-oriented" consumer in-depth operation, digital operation to build a two-wheel drive end-to-end model, and the concept of online and offline collaboration and win-win through big data.
Today, let's pay attention to the management indicators of new retail stores, commodities, and membership operations.
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1.Re-addressing the challenges and trends of consumer retail business management:
Emphasize the "people-oriented" in-depth operation and digital operation of consumers to build a new all-round model of two-wheel drive.
2.New retail uses big data to achieve the collaboration of different channelsEnable efficient collaboration between online and offline to achieve a win-win situation for channels.
Through the strategy of the same price on and offline, vicious competition is avoided and accurate positioning of consumers is realized.
3.In terms of improving the efficiency of store scenarios, big data helps new retail businesses improve convenience and provide more interactive, accurate and personalized marketing solutions.
The introduction of smart shopping guides has further enhanced the customer experience. In the future, innovative technologies such as 3D trial fitting and unmanned catering will profoundly affect everyone's life.
4.In terms of enterprise operation empowerment, big data allows enterprises to track operational effects and promote organizational collaboration and efficiency, thereby improving the efficiency of operation and management.
Dramatically reduce the overhead costs of labor-intensive tasks associated with inventory management and order processing by intelligently optimizing the ** chain.
In addition, data analysis also provides a powerful tool for consumer retail enterprises to assist business decision-making. By decoding consumer behavior, marketing strategies and pricing models can be refined to maximize profitability and further improve decision-making.
The main features are as follows:
Digital Integration:Integrate online and offline channels through digital technology to achieve data sharing and collaborative operation.
Personalized service:Leverage big data and artificial intelligence technology to provide customers with a personalized shopping experience.
Real-time feedback:Quickly get consumer feedback and adjust your product and service strategy in a timely manner.
**Chain Optimization:Optimize the ** chain through data analysis, reduce inventory pressure, and improve operational efficiency.
1. Store operationCoreIndicators:
Sales:As a basic metric, sales reflect the total sales revenue of a store over a specific period of time. The frequency of monitoring of this indicator can be adjusted as needed, and it can be measured on a daily, weekly, monthly or quarterly basis, so as to get a complete picture of the sales performance of the store.
Sales growth rate:The sales growth rate is used to evaluate the increase in sales compared to previous periods, and provides an important reference for store sales trends. By monitoring sales growth rates, stores are able to get a clearer picture of the dynamics of their sales performance.
Profit margin:Profit margin is the ratio between sales and net profit and is used to measure the profitability of a store. Monitoring profit margins can help you gain insight into your store's profitability and make strategic decisions accordingly.
Footfall:The traffic metric, which tracks the number of customers entering a store, is an important tool for evaluating the attractiveness of a store and the effectiveness of traffic management. By effectively monitoring foot traffic, stores can adjust their strategies to increase foot traffic and optimize the shopping environment.
Average Trade Value:The average transaction value reflects the average amount of each transaction and helps you understand how much your customers are spending on each purchase. This is essential for optimizing** and increasing sales.
Return Rate:The return rate measures the number of products returned by customers and is a key indicator for evaluating product quality and customer satisfaction. A high return rate can indicate a problem that needs to be addressed in a timely manner to improve the customer experience.
Inventory Turnover:Inventory turnover reflects the efficiency of inventory, i.e., the speed at which a product moves from incoming to sold. High inventory turnover helps reduce inventory carrying costs and improve capital utilization efficiency.
Inventory Turnover Days:Inventory turnover days are a derivative metric of inventory turnover that measures the average amount of time a product stays in inventory. Short lead times often help reduce the risk of slow-selling.
Personnel cost ratio:Personnel cost ratio is used to evaluate the proportion of store personnel costs to total costs, which helps to effectively manage costs and ensure the effective use of personnel resources.
Temporary display effect:Temporary display performance metrics are used to evaluate the sales performance of a specific product or display method. By understanding the impact of temporary displays, stores can optimize product merchandising and promotion strategies.
The complete indicator system is detailed in the figure below
In addition, there are several aspects worth paying attention to:
(1) Sales:
Sales is the total sales revenue of a business over a certain period of time, calculated by adding the amounts of all sales transactions. This indicator is one of the most direct economic measures of a business, which intuitively reflects the market's acceptance of its products or services. As the foundation of profitability, sales are essential for the survival and growth of a business.
(2) Inventory management:
Inventory management covers key metrics such as inventory levels, turnover, and out-of-stock rates. Inventory levels measure the current level of inventory, usually expressed in physical quantities or monetary values; The turnover rate reflects the velocity of inventory by calculating the ratio of sales to average inventory. The out-of-stock rate, on the other hand, measures the frequency of out-of-stock situations, which is calculated by dividing the number of out-of-stock by the total number of sales. Effective inventory management can help ensure that goods are sufficient, reduce slow-moving and expired inventory, improve capital turnover, and effectively reduce storage costs.
2. Commodity operationCoreIndicators:
Sourcing & Chain Optimization:Merchandise management runs through the entire chain process, including purchasing decisions, merchant selection, pricing strategies, ordering and efficient delivery. By optimizing these links, the efficient management of procurement and the first chain can be realized, and the overall operational efficiency can be improved.
Smart Inventory Management:Merchandise management involves intelligent inventory control, including real-time monitoring of inventory levels, optimizing inventory turns, reducing scrap rates, and preventing stockouts. Through the introduction of intelligent technology, the accuracy of inventory management is improved and the optimal allocation of inventory resources is realized.
Clever product positioning and display strategy:Merchandise management emphasizes precise product positioning and attractive display methods to guide customers' attention. Excellent product display, reasonable pricing strategy and clever ** activities will help increase the market share of the product.
Intelligent Demand Planning:Merchandise management requires precise demand planning to ensure that inventory can meet customer demand while avoiding overstocking. Through the introduction of intelligent ** and planning technology, it is possible to more accurately ** market demand and achieve more refined inventory management.
Excellence in quality control:Merchandise management includes excellent quality control to ensure that a product or material meets a high standard of quality. By establishing a strict quality management system, we can reduce quality problems and return rates, and enhance brand reputation.
Intelligent Product Lifecycle Management:Merchandise management encompasses comprehensive product lifecycle management, including new product launches, ingenuity**, sensible delistings, and efficient clearance. The introduction of intelligent technology can respond more flexibly to market changes and achieve optimal management of product life cycles.
The complete indicator system is detailed in the figure below
The main focus is on several aspects:
New frequency:
Frequency of new products indicates how often new or updated products are added, which is essential to maintain consumer interest and increase purchase desire. Count the number of times a new or updated product is added or updated during a time period.
High frequency of new updates helps attract customers' continued attention, increase the likelihood of purchase, and maintain brand vitality, which is a key factor in staying competitive.
Best Seller Rank:
The best-seller ranking reflects which products perform best in sales, helping to adjust inventory strategies and further marketing. Rank products by sales or number of sales. nowUnderstanding best-selling products helps to refine inventory management, improve chain efficiency, and optimize advertising and advertising.
Proportion of best-selling products:
The percentage of best-selling products is a productpinsSales as a percentage of total sales, which is a metric to see which products are performing best in sales. This provides a basis for enterprises to adjust their inventory strategies and optimize their activities, aiming to improve overall sales efficiency.
**Effect Evaluation:
Effectiveness evaluation measures the impact of a campaign on sales and is key to evaluating the effectiveness of a strategy. Through the effectiveness evaluation, the company can understand the actual contribution to sales and provide lessons for the development of future strategies. Calculation:Compare sales data for periods and non-periods, and analyze activitiesROI (Return on Investment).
Item Pricing:
Commodity pricing is based on factors such as cost, market demand, and competition, and requires a combination of factors. Proper commodity pricing is key to maximizing profitability. With a sound pricing strategy, businesses can improve their market competitiveness while ensuring that they are able to earn enough profits to support operations and growth.
Taken together, these indicators are interrelated in new retail and constitute a comprehensive evaluation system of the overall operation of the enterprise. By accurately calculating and analyzing these metrics,Companies are able to better understand market needs, optimize operational processes, and improve competitiveness to adapt to changing market conditions
3. Membership operationCoreIndicators:
Personalized Recommendations:Using in-depth analysis of member data, retailers are able to provide personalized product recommendations to each member, increasing customer satisfaction and driving more purchases.
Shopping Path Analysis:By analyzing members' journeys in detail, retailers can gain insight into customer behavior as they browse, compare, and purchase products. Such an analysis can help optimize product display and develop more precise strategies.
Lifetime Value Analysis:Lifetime value analysis for different member groups can clarify which members may become the most valuable customers, providing an important basis for targeted marketing.
Membership Growth:Retailers should conduct an in-depth analysis of the growth trend of membership to accurately determine future sales and market demand and develop corresponding strategies.
Member Retention:Member retention is a crucial metric that reflects the level of loyalty of the member base. Retailers should take steps to improve member retention to reduce churn and promote repeat purchases.
Membership Distribution:Geographic analysis enables retailers to gain a deeper understanding of the market and identify regions with growth potential to optimize logistics and distribution strategies.
Affiliate Segmentation:Segmentation and analysis for different member groups can help you accurately launch** and activities to meet the unique needs and preferences of different groups.
Effect Analysis:Conduct comprehensive performance analysis of marketing activities on a regular basis, including metrics such as sales, ROI, and member engagement, to provide data support for determining successful strategies.
Event Review:An in-depth review is conducted after each marketing campaign, summarizing successful experiences and suggestions for improvement, and providing strong experience for the formulation of future campaigns.
ROI Analysis:Perform ROI analysis for each campaign to identify which campaigns are the most profitable to optimize budget allocation and increase ROI.
Feedback and improvements:Based on performance analysis and member feedback, adjust and improve marketing strategies in a timely manner to ensure better customer needs and keep pace with market changes.
The complete indicator system is detailed in the figure below
The main focus is on several aspects:
Member Activity:The frequency and extent of members' participation in shopping activities in a certain period.
Active members are generally more loyal to the brand, and increasing member activity can help increase sales opportunities while allowing for targeted** campaigns.
Calculation method:Number of active members Total number of members.
Affiliate Growth Rate:Evaluate the effectiveness of member recruitment activities, and a high growth rate indicates that a company has a strong ability to attract new members, which is an important indicator of the healthy development of the business.
Calculation method:The membership growth rate can be calculated by dividing the number of new members in a period of time by the total number of members in that period and multiplying by 100.
Membership Lifetime Value (CLV):CLV can help companies understand the value of each member's contribution, so as to optimize the membership promotion strategy and improve customer satisfaction to ensure long-term profitability.
Calculation method:Estimating the value that a member creates for the business over the life of the relationship is typically calculated by calculating the average purchase frequency, average order value, and duration of the relationship.
Member satisfaction:Member satisfaction is an important criterion to measure the quality of enterprise service and product quality, and high satisfaction helps to maintain member loyalty and reduce churn.
Calculation method:Through questionnaires, feedback forms, customer evaluations, etc., the satisfaction data of members is collected and analyzed on a regular basis.
These member operating indicators are interrelated and together form a comprehensive evaluation system for maintaining and developing member relationships. By accurately calculating and analyzing these metrics, companies can better understand the characteristics, behaviors, and needs of their members, so that they can develop more targeted strategies to increase member engagement and loyalty, and provide strong support for their sustainable growth.
In summary, the application of this smart solution and the implementation of refined operations jointly build the core of new retail. This comprehensive strategy not only enables enterprises to better adapt to market changes, but also provides all-round support for improving operational efficiency and enhancing brand competitiveness.
Through in-depth insight into stores, products, and members, combined with technological innovation, new retail can achieve a more intelligent, efficient, and personalized retail business, laying a solid foundation for future development.
Based on the in-depth analysis of these three directions, enterprises can adjust store layout, optimize product mix, and personalize services, so as to make the entire retail process more flexible and efficient, improve customer satisfaction, improve operational efficiency, and improve user experience, so as to better meet market demand.
This innovative set of solutions is designed to address the various management challenges facing the retail industry todayThrough digital operation and people-oriented in-depth consumer operation, we provide customers with all-round support.