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Drilling Down to Store Level
Large retail chains need a better way to understand store-level performance. A new three-step process strips away the effects of external factors, thereby allowing chains to identify best practices and to disseminate them among all similar stores. The process also helps chain managers set realistic, bottom-up performance targets for individual stores.
The take-away: Retailers can boost their revenues by 5 to 8 percent—without making costly investments in new formats, IT systems, or even marketing efforts—by organizing their stores into peer groups and using each group's best practices to evaluate and improve the performance of the stores within it.
Articles provided by The McKinsey Quarterly
© 1992-2003 McKinsey & Company, Inc
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