Retail has always been a cutthroat industry, but today it’s more so than ever. With competition from all angles, not least from the likes of online giants such as Amazon, retailers need to work harder and smarter to stay afloat, let alone prosper.
If you work in retail, particularly in a small business, one of the ways you should drive your business is through the use of daily and weekly sales reports. Accurate and timely sales data is essential for smart decision making. It can be the difference between treading water and cutting waves.
But what sales data should you be tracking, and how can it be used within your retail environment to make a real impact on your business?
Here’s a look at nine key retail sales metrics you need to keep your business moving forward and make data-driven decisions.