FinListics launched KPIs for Sales Success to provide a framework and industry information to help you better understand your clients. This is especially important in these times of great uncertainty. Each series focuses on a specific industry and contains snapshots of facts and figures that you can use to quickly understand important metrics of your client’s business.
Cost of Goods Sold (COGS) in Retail is explored in this snapshot. Cost of Goods Sold is important since it absorbs 50% - 70% of revenues depending on the type of retailer and is a key responsibility of business functions like merchandising, omni-channel, distribution and logistics, and store operations.
Can’t wait for future snapshots? Just like your favorite Netflix series, you can binge read all Retail snapshots and other content by downloading Retail KPIs for Sales Success eBook now! There is also a Consumer Packaged Goods KPIs for Sales Success eBook.
As you review this snapshot, answer the following questions.
- How does your client’s COGS compare to the industry?
- What impact is COVID-19 having on COGS and what impact will it have on investing in new solutions?
- How do your solutions help improve COGS?
- Which COGS KPIs (e.g., merchandise, labor, and distribution and logistics) do your solutions help the client better manage?
- For those KPIs, what’s the benefit of a one percent improvement?
Other KPIs for Sales Success series will explore industries like Financial Services and Life Sciences. We need your input on what’s important to you, so please take the survey shown below to let us know which industries you’d like to explore.