You've meticulously curated your inventory, designed the perfect displays, and developed an events program for your community — but how will you know if what you're doing is working? Tracking Key Performance Indicators (KPIs) will give you the answer. KPIs are specific outcome-based targets that support your strategic plan and can be measured quantitatively, such as inventory turnover ratios, sales per square foot, and average transaction value. By the time you leave this session, you will: (1) understand the meaning and value of critical retail KPIs and how to track them, (2) understand how to compare your store's KPIs against financial metrics found in the ABACUS report, and (3) be able to apply this data to create an improvement plan for at least one area of your store's performance.

Speakers

• Cynthia Compton, MacArthur Books - Carmel, IN
• Melissa DeMotte, The Well Read Moose - Coeur d'Alene, ID
• Candice Anderson, Tombolo Books - St. Petersburg, FL

Files & Links

• Video Recording
• Slide Deck

Recorded February 13, 2024 at Winter Institute 2024 in Cincinnati, OH

Additional bookstore education resources can be found at www.bookweb.org.

Theme song by Constant Companion