Measuring store performance post-lockdown.
Now that states and stores are reopening, we’re noticing in our conversations with retailers that measurement is a favorite topic. And understandably – retailers want agile control coming out of lockdown. As Peter Drucker the father of modern management said, “What gets Measured gets Managed”. With doubts that old metrics and ways of monitoring are adequate, there are three main questions that are being asked: With the requirements within a store changing fast, what metrics should we be measuring stores on in the “new normal”? As the main ways of assessing performance, versus Last Year and Budget, are out the window, what is the best way to measure and target performance improvement? How should performance be incentivized and rewarded to ensure the right behaviors? These are all areas we are exploring with multi-site retailers, as well as Quick Serve Restaurants. Here are our early thoughts.
