What is a retail dashboard?
A Retail dashboard is a performance and activity tracking tool focusing on relevant KPIs and Metrics for the retail and trade sectors. Essentially these consist of data produced by both online activities such as web sales and offline actions produced when visiting a retail outlets premise. They are designed to track the entire journey or relationship of interactions between a customer from initial sales to after sales support.
Who is this dashboard for?
Retailers, traders and those involved at all levels of retail can benefit from this dashboard. It provides crucial information pertaining to your performance when selling any type of goods or services. With this data at hand it is possible to set, work towards and monitor the progress of growing sales and or product lines and adjusting the sales strategy according to customer behavior.
Overview
Retailers normally operate in very challenging environments. There is constant pressure to increase sales a midst growing competition from large online retailers, grow the business and keep a tight rein on expenses and overheads. Margins can be tight and high volumes are increasingly needed to keep in profit.
Nevertheless, being able to track related KPIs such as the number of shop visitors, shopping time and average basket spend, as well as after sales focused metrics such as, returns, recommendations and referrals can help mitigate the growing pressure, keep on top of changing environment and provide a competitive advantage.
Dashboards and charts can quickly visualize the most important retail metrics, providing data driven insights and enabling retailers to focus more time on the business and less time in guesswork.