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Let's discuss KPI

Good morning, 

Lets discuss today on KPI ..First will learn what is KPI ?
K- Key
P- Performance
I- Indicater 

Will understand the same with attached video .
Now what are things which are comes in KPI ?
First of all will learn what is importance of KPI in retail life ..


Suppose you are doing your own business or any work where you are calculating the profit and loss you need to set some benchmark. Like if I do this much will not go in loss , or if I will do this much will be on profit. 

So the main thing is to measure your benchmark and to measure your success rate we need some KPI tools which helps us to improve our work and to identify the opportunity area .
So what we track in KPI at a retail store leval.
We track our Bill, 
ATV, 
Quantity, 
LY vs TY sale , 
Conversion, 
UPT . 

What is Bill ? 
Bill the main reason of generation the business, so this is main that how much bill we are making in a single hour ,day . 
 What is ATV? ATV means average transition value after making a bill we track that what is our bill value that we called ATV . 

Quantity:-  
Quantity play a major role in KPI 
, how much Qty we sell on daily basis that shows how much adon selling and ups we are doing.  It's effect directly in our stock and stock sell thru as well. 

Last vs This year sale :- 
 Most of the case it's 
called L2L growth which means how much growth we have in our business compair to last year . 

Conversion:- 
Conversion is depand on your footfall, that much footfall you are getting and how much you are converting, that particular amout called conversion. 
Conversion is another tool where we can major our staff KPI and selling skills as well. 

UPT:- ( Basket size)
U- Unit 
P :- Per 
T :- Transition
So it means how much unit you are selling in one bill , it's shows the extra selling and advanced selling of your staff. In our retail 
Store there are lots of category we have so staff need to sell all these available category, some of staff are good in selling footwear only and some of staff are good in selling apparel only, but all of the staff need to sell all available category. So store can increase UPT. 

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