3 PERFORMANCE DRIVER: Consumer-Relevant Store
The Consumer-Relevant Store Performance Driver measures a store’s execution of a renovation to bring both Discovery Acceptance and Best Brands to Platinum/Pinnacle levels within the past eight years. Pinnacle Target: Execution of a store renovation within the past eight years. Why is a Consumer-Relevant Store important? Retail must innovate around three themes: Experience, Convenience and Personalization. Completing a store renovation accomplishes these necessities. The retail industry standards suggest stores should be renovated every five to seven years to remain relevant in the marketplace. Keeping up with the right products, layout, signage and décor
makes the shopping experience more convenient for your customers and more profitable for you.
Stores that have been renovated in the past two years have experienced an average sales increase of 7.2% in the first year following the renovation.
Renovations employ a holistic approach to make sure both merchandise and environment are well thought out, well maintained and well presented. The result is a refreshed store and merchandising plan that optimizes category placement, leverages adjacencies and power aisles, incorporates proper pricing strategies, and increases sales space for Best Brands and local niches.
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