Retail is more competitive than ever, and success often comes down to one thing: data.
You have so many insights to draw from when you review retail store reports; it points you in the direction of what you should optimize, improve, and generate more growth from.
However many retailers don’t use these tools or don’t understand how much can be done with them.
This blog dives deep into what 18 retail store reports every store owner or manager should use. They’re not just numbers — these are actionable insights helping you as a business owner to learn what you need to do to improve your business to a smarter, leaner, and more profitable model.
Want to take charge of your store’s performance? Let’s get started!
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The Must-Have Reports for Your Retail Store Performance Dashboard
To win with your retail business, you absolutely must see what’s happening in your store in real-time. Go into the store performance dashboard—an all-in-one metric centralization and all-inclusive view of your retail operations.
So, what does this mean and how can it help your business?
A store performance dashboard is a dynamic interface that brings together all the vital data from your retail operations into a single, cohesive visual form. You get to monitor real-time metrics, understand trends, and make intelligent decisions on how to optimize your store’s performance.
Why is real-time data access essential?
There is a constant change in the retail landscape. Market conditions can change and consumer preferences do move quickly. With quick access to your store’s data, you can thrive, adapt to problems, and take advantage of opportunities, keeping you competitive.
With a robust performance dashboard, you can:
- The seller monitors the metrics including but not limited to sales, foot traffic, sales conversion rates, etc. to discover the areas that need improvements.
- Watch inventory and supply chain metrics so that you don’t wind up overstocked, out of stock, or inefficient.
- Use feedback scores and purchasing patterns to understand customers’ behavior, to improve the shopping experience.
18 Retail Store Reports to Super Charge Your Operations
1. Sales per Square Foot Report
Revenue per square foot of your retail space is measured in this report. That’s a key indicator of your success in working with your store’s layout and merchandising strategy. High sales per square foot mean your space is optimized, low sales per square foot might mean underperforming areas.
For example, putting your popular products in high-traffic areas can boost sales to a large extent.
Retail Financial Times found in a 2022 report that stores that measured this metric saw an overall profitability of 12%. Regular review of this report allows you to fine-tune your store layout to maximize every square foot of your store generating revenue.
2. Average Transaction Value (ATV) Report
The ATV report lets you know how much an average customer spends per transaction and gives you a contextual idea of how well your upsell and bundle tactics work. Successful promotions or suggestive selling are represented by a higher ATV.
For example, it pairs complementary products for example, such as selling shoes with socks, thereby increasing spending.
Looking at this report over time shows us where our customers are spending their money, and how we are doing with various sales tactics. Retailers using upselling strategies reported that they saw 20% additional ATVs, according to Shopify.
3. Conversion Rate Report
This report will track the number of visitors who make a purchase and allow you to see what’s working (and what’s not) with your store’s merchandising, pricing, and customer service.
For instance, say 100 people came into your store, and 30 out of those 100 made a purchase—that’s a 30 percent conversion rate. A low rate may mean poor product presentation while a high rate means that your store is doing a good job of turning browsers into buyers.
A low Conversion Rate could indicate ineffective displays or pricing. Xenia’s dashboard lets you test and monitor changes to see what resonates with customers.
According to ConferWith, retailers who improve their conversion rates by 5% saw a 20% increase in revenue.
4. Foot Traffic Analysis
Foot traffic reports report how many individuals hit your store during a period, broken down by time, day, and month. Knowing customer flow lets you better staff your store, plan promotions, or locate inventory.
Imagine if your store has a 40% increase in foot traffic on weekends — you may want to add more staff or run a special offer just for the weekend.
5. Inventory Turnover Report
The calculation in this report is how many times your inventory has been sold and apprehended within a certain time. High turnover rates mean high demand for your product and good inventory management, while low turnover rates say something is either being overstocked or is slow moving.
Let’s say your inventory turnover is 8x in a year — that’s healthy inventory flow. For example: RWB, who recently went from Excel spreadsheets to a Netstock implementation of their advanced real-time inventory management system, has greatly reduced their inventory process.
By upgrading this, it reduced manual tasks, shortened planning, and offered real-time insights combined with customizable reports, which led to the removal of €3.5 million of excess stock.
6. Gross Margin Return on Investment (GMROI) Report
We define the GMROI as the gross profit of each dollar invested. A GMROI greater than 1.0 means profitability; less than 1.0 means loss. As an example, when your GMROI reaches 1.5, you generate $1.50 for every $1 of inventory you spend on.
A study by POS Nation found retailers that punched above their weight for high-GMROI items, were able to boost their profit margins by 18%.
7. Employee Productivity Report
This report calculates how much every employee makes in revenue, so you can spot top performers and see where you can improve. For instance, let’s say that one employee brings in an annual of $15,000 and another produces $8,000; you can spot training skills that the second employee may require.
Retailers tracking this metric reported a 12% increase in team productivity, as noted by Retail Dive. Use Xenia’s Employee Training Template to monitor and boost your team’s performance, ensuring every staff member contributes to store success.
8. Customer Satisfaction Survey Results
Customer Satisfaction Survey is an opportunity for customers to give you feedback on your products, services, and your shopping experience. Suppose a recurring complaint is that the checkout takes too long; then operational changes such as the addition of registers or improving workflows are made.
What we found in a 2022 survey is that stores that reported being actively handling feedback reported seeing a 25% increase in satisfaction scores.
9. Shrinkage Report
Shrinkage reports track losses of inventory to theft, damage, or administrative error. Suppose shrinking is high in a particular department means employee theft or unsound inventory management.
Keeping an eye on this report can help prevent financial losses — losses worth $61 billion every year to U.S. retailers, according to the National Retail Federation.
10. Sales by Product Category Report
It breaks down sales by product categories so that you can see what’s selling well and what is performing poorly. For example, if sales are 40 percent of your total sales but electronics only occupy 20 percent of your floor space, then reallocation of that space to electronics can even increase sales by more.
11. Peak Sales Hours Report
This report finds out the time slot in which your store has the most sales. As one example, if sales peak between 5 PM and 7 PM, adding more staff at those times will not only improve customer service but also reduce checkout time.
12. Customer Retention Rate Report
The purpose of this report was to also measure over time the percentage of repeat customers. For instance, if you achieve a retention rate of 60% you can use a loyalty program or personalize the marketing for the same to increase it to 70%.
13. Online vs. In-Store Sales Report
Customer preferences and omnichannel strategies are aligned through comparing online and in-store sales. For example, say that 60 percent of your revenue comes from online sales, so digital advertising and e-commerce platform optimization becomes crucial. Shopify also states that retailers who combine online and offline insights grew 1.5x faster.
14. Promotional Effectiveness Report
This report measures marketing campaigns by the success of these. So, whenever a 25% discount increases sales by 30% during a promotion, what does a 10% discount give us? A 5% boost. These results are analyzed to fine-tune future campaigns. According to a recent study, retailers who tracked promotions saw a 40 percent improvement in ROI.
15. Stockout Report
The frequency and resultant impact of inventory stockouts are tracked in this report. If a product we provide takes a long time to go through production and sells well, and it’s a popular product that often sells out, then don’t let that continue to happen: improve demand forecasting or build stronger relationships with the supplier if you don’t have any means of stopping (re)orders. Retail Dive reports that 70% of customers will switch to competitors if they are out of stock.
16. Supplier Performance Report
Supplier performance report includes vendor evaluation in terms of delivery time, product quality, and product pricing. One example is that if a supplier is late 15% of the time, switching to a more reliable supplier can stop disasters. Retailers who track supplier performance reduce operational delays by 20%.
17. Same-Store Sales Report
In this report, revenue growth at existing locations over time is compared minus the contribution from all sales at new stores. For example, if same-store sales could grow 5% year over year and continue to do so, that tells you the operations are healthy. But they can also mean retention problems or more competition.
18. Labor Cost Percentage Report
This report analyzed the student-to-sales ratio. If labor costs are over 20 percent of sales, you may refocus on streamlining shifts, or productivity improvement, for example. Retailers achieving a 22 percent profit margin increase optimized this metric.
How a Store Performance Dashboard Delivers Business Value
1. Streamlined Inventory and Supply Chain Management
The real-time insights provide you with inventory levels, sell-through rates, and supplier performance. This data allows you to keep your stock levels at optimum, minimize waste, and maximize your production cycle. Understanding exactly what is selling and what is not, means you can make smarter purchase decisions around what you are actually buying up and avoid tying capital into slow-moving products.
2. Smarter Sales and Marketing Strategies
You get granular insights on sales trends, customer demographics, and campaign performance; which enables you to build data-driven sales and marketing strategies. Let’s say that you know a certain promotion brings in the most foot traffic or generates the highest ROI – then you can adjust your approach and hone in on your ideal customers more thoroughly.
3. Enhanced Customer Engagement and Satisfaction
You are also able to track customer satisfaction scores, reviews, and engagement metrics on your dashboard. This is the best way to discover areas of pain in the shopping experience—whether that’s long wait times, out-of-stock items, or poor service—and demonstrate how to remedy them and earn loyal customers.
Now that we understand the value of a performance dashboard, let’s explore 18 essential retail store reports that will transform your operations
Let’s go now and see what essential reports you should include in your store performance dashboard so that you can start reaping those benefits.
Conclusion
Your secret weapon in retail reporting is your ability to run a smarter, more efficient store. These 18 reports give actionable inputs to every operation from sales to staffing, and inventory all the way to customer satisfaction.
You can use Xenia’s templates to implement these metrics and tap all your store’s potential. Smart strategies, higher profits, and long-term success come from data-driven decisions.
Start tracking today!
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