There are many ways to report inventory turns. As New York is a challenging retail place, retailers have to go special ways. Nygård’s Time Square store for example communicates stock turns on a live ticker (similar the NYStock Exchange) in the store window: „We sell a legging every 45 sec“.
Whatever the intended message, the longer we think about it, public store KPIs could be a next generation reporting. Consumers give „likes“ for retail services & products, why not engaging them to thrive store KPIs. To inspire your forward thinking, some ideas for potential future reporting messages in downtown windows:
- „Support us to sell 1 leggings every 42 seconds“
- „Buy 3 for 2, and secure that our staff achieves this month’s units per ticket bonus“
- „Our landlord increases rent by 30%, learn from our sales team how to ease our performance pressure“
- „This store’s L4L is down 3%, three years in a row. If you want to keep the friendly store clerks in your neighborhood, help them with the conversion rate“
- „If you use our QR codes on display to shop online, you help to save store personnel costs, and future rent“
- „You may not shop brick & mortar anymore, but hey, this is a click & collect location. Rescue it, bring us more returns!“
You may not like the idea of public store KPIs, but we guarantee your windows will get high attention and stores become talk of the town.