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debakshi gupta
CRM and English Skills expert
Asked a question last year

What is KPI in Retail?

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debakshi gupta
CRM and English Skills expert

A KPI, or Key Performance Indicator, is a metric used to measure performance. Retail stores use various KPIs to measure their activities. There is no particular set of KPIs that every retail store must use. Retail stores need to pick the right KPIs based on the outcome they want to achieve or their strategic goals. For example, one retail store might want to manage their inventory better, so they would use KPIs like inventory to sales ratios or inventory integrity. On the other hand, another store might want to enhance the customer experience, so they would choose KPIs like customer satisfaction and customer retention.