A new benchmarking tool from Bestway is promising to help Best-one retailers boost their sales.
The ‘Store Performance Analysis Tool’ examines stores’ trading performance by category and benchmarks it against the convenience sector’s sales and gross margin averages, to show retailers where they are under-trading.
Best-one business development executives are then able to suggest changes to store layout, range and the space given to key categories.
Trials have demonstrated minimum sales uplifts of 10%, Bestway group director of symbol James Hall said.
For retailers thinking about investing in their store, the tool also includes a payback calculator to show how quickly their investments would be repaid should they implement the recommendations, Hall added.
“In 2013, more than ever, independents must ensure they have the right mix so that every square foot works as hard as it can for them,” Hall added. “Sales statistics show that in many categories 80% of sales come from 20% of the range, so accurate space planning and ranging is critical.”
The tool will be regularly reviewed to ensure that space allocation recommendations reflect shopper trends.