retailMetrix's: 15 Essential KPIs for Tracking Your Business’ Performance

retailMetrix is a data analytics platform created by two third-generation grocers with the goal of enabling grocer's success. We help businesses collect, integrate, and analyze data from various sources, providing valuable insights that can drive business growth. KPIs are essential for success, but it can be difficult to identify which ones are the most important.

KPIs and metrics are essential for retailers to track their performance and make data-driven decisions.

1. Sales: Revenue is the most important metric for retailers to measure the total revenue generated by their business.
2. Gross Margin: The cost of goods sold and the selling price of goods is a key indicator of profitability.
3. Inventory Turns: Track inventory movement to ensure not overstocking or running out of products.
4. Customer Acquisition Cost (CAC): Track this metric to ensure you're not spending more than you're earning.
5. Customer Lifetime Value (CLV): Track customer lifetime value to ensure you're investing in the right customers.
6. Return on Investment (ROI): Track this metric to ensure a positive return on investment for a marketing campaign or strategy.
7. Average Order Value (AOV): Track this metric to maximize revenue per transaction.
8. Conversion Rate: Track the percentage of website visitors who make a purchase to ensure you're converting as many visitors as possible into customers.
9. Bounce Rate: Track this metric to identify any issues with your website's user experience or navigation.
10. Repeat Customer Rate: Track repeat purchases to identify loyal customers and target them for retention campaigns.
11. Employee Turnover Rate: Track employee turnover rate to identify issues with employee satisfaction and retention.
12. Net Promoter Score (NPS): Track customer satisfaction and loyalty to identify areas for improvement and measure success of retention strategies.
13. Social Media Engagement: Track engagement on social media platforms to identify successful content and target audience.
14. Website Traffic: Track website visitors to identify trends and target audience.
15. Mobile vs Desktop Traffic: Track this metric to ensure your website is optimized for mobile users.

Retailers need to understand and track KPIs and metrics to make data-driven decisions that drive business growth. retailMetrix makes it easy to track these metrics and gain valuable insights with its powerful dashboards and reporting capabilities. Contact us today to learn more about how retailMetrix can help your business succeed.