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KPIs.

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Our Thinking.

Looking for some information about KPIs in retail? Here's some deeper thinking from Quorso.

Measure. Get the right KPIs in place.

Covid has shifted everything - especially for retailers. With such a drastic shift in customer habits and new fulfilment and delivery requirements, retailers need a whole new set of KPIs. But what are they?

Surface Insights
Action. Race toward your targets with ease.

So you've set all the right KPIs for success - but how do you ensure you hit them? Agile Stores makes it easier than ever.

Checklist
Success. Deliver headline-making results.

Once you've implemented Agile Stores, all your operations and results are continuously improving. Across all your stores, this can lead to astounding results. See the numbers in this infographic.

Our Mission
Features.

Here's how Quorso helps you manage your KPIs.

01
Rapidly set new KPIs.

Focus every store's efforts. Quorso continuously crunches your data to find the top areas where each store is leaking sales, costs, and other KPIs.

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02
See where you're falling short.

Daily Missions drive rapid action. Quorso nudges each store to take 3 daily Missions, guided by real-time District Manager coaching on tap.

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03
KPI leaderboard.

Track, measure, and learn. Quorso tracks the $ improvement from each Mission and team member, flagging issues and scaling what works.

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In action. See how easy it can be to smash your KPIs.
FAQs.

What's so powerful about Quorso?

What is a Mission and how is it identified?

A Mission is a specific sales improvement opportunity that Quorso has found for your store, and is the suggested area that you should focus on this week to improve overall sales performance. You can do this by choosing to ‘accept’ a Mission.

Quorso identifies Missions by crunching through all of PetSmart’s sales data each week, and finding areas where your store has an opportunity to improve based on how it’s performing vs all of the other stores. Even if these stores vary in size, revenue, and popularity, our calculations level the playing field. To make the comparisons fair, Quorso will:

  1. Only compare you to stores that have the same format as you.
  2. Only compare you to stores that have the same shelf space allocated to the particular product a Mission relates to, relative to its category (e.g. D Simply Nourish accounts for 10% of the space allocated to D Natural).
  3. Adjust sales values of the comparison stores to factor out differing store revenues and customer traffic. This will even take into account exceptional events, like storms, local holidays, or Covid restrictions.
What do you mean by accepting a Mission?

When you get a suggested Mission, you should try and understand why this suggestion has been sent to you. Once you have investigated the potential root-causes, you need to decide whether or not there is something you can do to fix the problem and drive improvement. If there is, accept the Mission and log your proposed action.

If there is nothing you can do, you should choose to reject the Mission. That might be because it’s not something that can be fixed in store, or it’s an availability issue that you can’t control, or you’ve investigated it and can’t find any issue.

If you choose not to take action, it’s important to reject the Mission. If you do not, Quorso will try to measure and track the impact of something you have not done.

How does Quorso fairly compare stores that have different shelf space allocations for different products/categories?

Yes it does. To make the comparison fair, Quorso only compares you to other same-format stores, and those that have the same shelf space allocated to the product area in question, relative to the category to which it belongs (e.g. D Simply Nourish accounts for 10% of the space allocated to D Natural). Therefore, if you receive a Mission, it is because your current sales for that product or category are lower than would be expected considering your shelf space.

Remember…we also take other factors into account, like store revenue and customer traffic, to ensure you’re being compared fairly.

How does Quorso control for external factors (like storms or the Super Bowl) that affect some of my stores, but not others?

Yes it does. Quorso adjusts the sales of the group of stores you’re being compared to, in order to take account of things like customer traffic and customer demographics. It does this by looking at the performance of the product area that you have received a Mission on, relative to the performance of its parent category sales. Here’s an example:

My store (Store A) sells $10 of NFL Dog Bandanas, which accounts for 10% of the Dog Clothing category sales ($100). On average, Stores B-K (with the same Dog Clothing range & space) sell $15 for every $100. In this example, I’m underperforming vs my peers by $5 (5%). Let’s look at 3 different scenarios to show how Quorso accounts for impact of exceptional events on Missions:

  • Storm Uri hits and this is driving down footfall in my store: Let’s say store A footfall drops and as a result Dog Clothing sales decline by 50%, and NFL Bandanas also decline. However on inspection I can see they still account for 10% of Dog Clothing sales. If all things stayed the same with my peer group, (e.g. their sales of NFL Bandanas stayed at 15% of Dog Clothing sales) then although I have seen a physical reduction in sales and footfall, my proportion of item sales, relative to the category parent, when compared to my peers, would remain the same.
  • It’s the Super Bowl and this is driving up sales in other stores but not mine: Let’s say stores B-K experience a doubling of footfall and Dog Clothing sales, and similarly my NFL Bandanas sales also increase. However provided that Bandanas still only account for 15% of Dog Clothing sales and if all things stayed the same with my store (e.g. my sales of NFL Bandanas stayed at 10% of Dog Clothing sales) then although stores B-K have seen a physical increase in sales, my proportion of item sales, relative to the category parent, compared to my peers is still the same.
  • My store runs a specific NFL promotion in support of Super Bowl: Let’s say my store doubles its share of NFL Bandana sales to 20% of Dog Clothing. If all things remained equal with my peer group, then relative to peers, I am now outperforming them by 5% which in this case equates to a sales uplift of $10. This is a Successful Mission.

In the same way, Quorso takes account of the impact that Covid-19 has had on footfall in different areas.

See more.

Keen to drive your KPIs and guarantee your targets are met?

If you're keen to know more, let us know what you'd like to achieve with your KPIs and measurement and we'll show you how to solve them in a tailored 30-minute demo of Quorso.

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