Retail Benchmark: Store Profiling & Kit Versioning
Whenever we speak with our customers or prospective ones, the question of store profile attributes comes up. More specifically, how many should they be tracking?
To help answer this question we took a look at our existing customers, and how they were leveraging the Store Profiler, and Sign Calculator modules of our Visual Marketing Automation suite. In order to keep things simple, we categorized our customers into three buckets based on store square footage and built out this infographic.
The average number of store attributes by size confirms what most retail marketers would expect. The larger the store, the more attributes you’ll have. Now, you might think the same logic would apply to the average number of kit versions, but we found this wasn’t the case. Our smaller footprint customers produced almost as many kit versions as the large ones. This can attributed to the number of fashion and apparel retailers we have in this particular segment.
By the same token the number of pushes a year is dominated by the large segment at a 187, almost double the mid-size segment. The reason for this would be that the general merchandise retailers we have in this segment end up doing several departmental pushes throughout the year as opposed to a full store push.
We hope you find these metrics helpful as you think about store profiling, and kit versioning in your organization.
(p.s. the infographic is embedded below)
If you need help figuring it out, feel free to talk to us.