Some of the most important KPIs monitored during the audit includes sales per sq ft, gross margins, ROI, inventory turnover, average transaction value, rate of customer satisfaction, retail conversion rate, customer analysis, footfall, and merchandising methodologies.
Besides the focus on critical metrics, some of the other crucial aspects that should be considered during the Audit are branding analysis, marketing communications, spending on promotions, and advertising to enhance store performance and incorporate innovative approaches. As part of the rigorous audit, the retail measurement reports provides retailers with a great scope to rectify and redefine store performance strategies.