As a CEO at a retail company, it is important to compare the performance of your stores to identify strengths and weaknesses. Sales figures are an important performance indicator, but they should not be the only factor used to judge a store's performance. Factors such as location, target market, and operational costs should also be considered.
Not all stores will have the same number of visitors, as this can vary depending on factors such as location, size, and marketing efforts. To ensure that store locations remain efficient, regular evaluations should be conducted. This could involve analyzing sales data, customer feedback, and market trends to determine if changes need to be made.
If a store is found to have poor performance, steps should be taken to improve it. This could involve changes to product offerings, store layout, or marketing strategies. KPIs should be established to track progress and monitor the effectiveness of changes. The conversion rate, which measures the ratio of visitors to transactions, is a useful KPI that can be calculated using accurate inbound traffic data. WaveCount provides highly accurate inbound traffic data that can be used to inform decisions and track performance.