2015 Retail Performance Group Meetings: A Recap
PROFITsystems’ 2015 performance group meetings have wrapped up for the year. We’ve been pleased to see each group expand as more retailers discover the benefits of sharing best practices, financial benchmarking, and collaboration with other home furnishings business owners.
A Typical Performance Group Meeting
During the year, group meetings were held in the various diverse locations of member storefronts, including Aruba, San Francisco, Banff/Calgary and Myrtle Beach. Each performance group meeting consists of members visiting the particular host’s stores and warehouses for the day, observing and learning from their successes, and providing constructive feedback for their improvement. Members also share their individual progress, goals, challenges, financial metrics and best practices with one another.
The Benefits of Idea-Sharing
It was great to see that the financial performances of most group members ranked in the top range of the 2015 NAHFA Retail Performance Report survey results. The high profits achieved by the performance group members are due, in large part, to the ideas for operational improvement and best practices members take home from each meeting.
In 2015, the quality of ideas disclosed during meetings continued to be really strong. Just a few examples of what was shared include:
- Selling systems for the sales floor and for mattresses
- Traffic counting systems to measure the numbers of guests in a store and enable true sales metrics
- Inventory line-up systems
- Ownership thinking practices
- Perfect delivery systems
- Management systems for employee evaluations
- Video production systems
- Digital marketing ideas
The implementation of any of these ideas has proven to be invaluable in increasing efficiency and profits, as well as providing a real competitive advantage.
In the coming year, the performance group meetings are scheduled for Austin, St. Petersburg Beach, Peoria and Syracuse. It is forecasted to be a rewarding year for all of the members.
If you would like more information on how to apply for membership in a retail performance group, please contact us or reach out to our performance group leaders directly:
- David McMahon