The magazine sales results in the Q1 2016 Newsagency Sales Benchmark Study published by Tower Systems ten days ago have been shown to be accurate Landin-line with the audit results subsequently released.
Our benchmark project has been running for many years and the results are used y small business newsagents and newsagent suppliers.
Similar benchmark principles are used by retailers in other retail channels in which Tower Systems serves as our POS software facilitates benchmark same store performance comparison.
Through our training and support services we help retailers to engage in the most important analysis they can undertake, comparing their performance on a same store basis on a year on year scale. We supplement this with the ability for like for like retailers to easily compare business performance, to assess how they are trading compared to similar businesses. This is at the heart of our channel level retail sales performance benchmark studies.
in addition to channel specific indicators, the benchmark study looks at KPIs that are useful and of interest to any retailer. For example take a look at this from the newsagency sales benchmark study published almost two weeks ago:
Too many newsagents are drifting, waiting for something to happen rather than forcing change in their businesses.
- Customer traffic. 67% of newsagents report average decline of 1.8%.
- Overall sales. 75% reported an average revenue decline of 1.3%.
- Basket depth. 62% report a 1.8% decrease in basket size.
- Basket dollar value. 68% report a decrease in basket value of 1.9%.
- Loyalty. 33% of respondents use a structured loyalty offer such as points or some other discount.
Every retailer wants to know about traffic, revenue, basket depth, basket value and loyalty. We make it easy to report on these as well as other KPIs such as stock turn, return on investment, return on floor space and return on shelf space.