7 Retail Metrics to Track Your Store Performance


Here are the following seven key metrics you should track and measure your performance to increase the store growth. Let's delve into it!

Understanding Customer Acquisition Costs

Your customer acquisition cost (CAC) is the average expense incurred to gain a new customer, covering ad spend, marketing tactics, salaries, and overhead. It reflects the efficiency of your acquisition strategies about the budget.

Understanding Average Lead Response Time

Your average lead response time measures how quickly your business replies to leads. In today’s digital world, prompt responses are crucial to retaining customers.

Understanding Web Chat Conversion Rates

Your web chat conversion rate indicates the percentage of web chat conversations that result in a transaction. It's a valuable metric that impacts in-store conversions. Calculate it by dividing the number of web chat conversions by the total number of web chat leads.

Understanding Google Ratings

Google ratings are crucial for your business, comprising both the quantity and average star rating of reviews submitted to Google for each location. Your Google ranking significantly impacts visibility and trust. To find your ratings, check your Google Business Profile listing, where the total number of reviews and average star rating are displayed.

Identifying Your Best Performing Location

Your best-performing location metric highlights the city or store with the highest performance based on your defined standards, such as sales, conversions, or customer reviews. To find this, assess each location against your chosen criteria to determine which one excels.

Analyzing Your Online VS. In-Person Sales

This data helps you identify the local preference for shopping methods and guides your strategic focus. If online sales dominate, it indicates successful digital marketing efforts and a decline signals a need to bolster online strategies.

Analyzing Your Lead Sources

This metric reveals where customers first discover your business, guiding your strategy for growth. To determine lead sources, gather customer feedback through surveys, and identify channels like Google search, word-of-mouth, social media ads, and email campaigns.

Dataczar Connect is an all-in-one marketing solution allowing you to build a beautiful website with ease, create campaigns in a few clicks, and make branded marketing materials in a matter of minutes. There’s no coding or hidden costs. In just 5 easy steps, you’ll have your own domain for your business or brand and begin connecting with prospects through omnichannel marketing and content creation.