KPI
Quantifiable key performance indicator. In a retail store these might include
- Number of people entering the store (footfall)
- The most popular areas visited by shoppers
- Conversion rate
- Average transaction value
- Average number of items in a shopping basket
- Average shopping time
- Time until first contact between staff and customer
The KPIs show how a business is progressing, and help identify areas for improvement. Measure the KPIs, analyse, act, repeat. Also known as Key Success Indicators (KSI).
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