The five essentials of a great store team meeting.
The top five things to include in your store team meeting.
M&S, one of Europe’s largest food, clothing and home retailers, wanted to improve revenue by reducing in-store execution issues. They believed display and floor availability challenges were causing them to miss out on sales.
M&S has a strong tradition of ‘probing’ performance issues weekly at each store, and wanted an out-the-box solution to (a) support and streamline this key process and (b) implement the required fixes effortlessly across its 1,400 stores.
of stores taking action in Quorso
each week to improve revenue
extra revenue added so far
by each participating store
per store of extra annual revenue
within the first month
“Quorso helps me quickly focus on priorities in a simple way, drives actions more easily and reduces management time. It's a very strong tool."
In 3 weeks, Quorso’s Data Team built an automated pipeline to ingest POS data from 1,400 stores, for 480,000 product lines, across 1,500 sub-categories (e.g. Linen).
Quorso’s intelligent analytics layer now continuously benchmarks sales of each product line against a control group of similar stores, (with the same shelf-space, range and demographics). In short, Quorso identifies areas where, controlling for all other factors, sales of a specific product are lower than expected.
Store GMs and Section Heads saw right away that Quorso freed up 5-6 hours of their time each week. They now understand the revenue impact of an untidy rack of jeans, of not replenishing strawberries quickly enough, or not sticking to the planogram. They record in 3mins in the Quorso app each action they take to drive sales, measure the extra revenue from those actions, and learn what is working for colleagues across the other country.
Each participating M&S store takes 15 actions in Quorso each week, resulting in 1.9% extra revenue – equivalent to c.£190 million of additional sales across the company. 96% of Quorso suggestions are able to be acted on immediately, the majority in the store itself, with 4% requiring escalation to central teams, e.g., supply chain.