Improve Return on Space

The nuances of performance at store level are the key to unlocking the opportunity to derive more profit from retail space. Retail Acumen's analytics consider both cost and margin per unit of space for each store uniquely. Using this analysis stores can be ranked in terms of their relative return on space, enabling our clients to really understanding the spread of performance across the chain.

With this insight Retail Acumen can quickly identify the stores in need of further attention, to address the root causes of poor performance and to improve performance ongoing. Often this also leads to a discussion with retail clients about how to increase sales, to intensify assortment or to consider ways to use space more creatively.

Space Elasticity and Macro Space & Micro Space Planning

Retail Acumen perform more detailed analytics for the worst performing stores. This retail analysis process enables our team to drill in the relative return on space metric at store-category and store-department level,identifying those product areas that are the most significant contributors to the stores performance. The insights from these investigations can used to address the store space allocations - for example increasing the space dedicated to more productive ranges and reducing space on those which do not trade as well in that specific store.

Once the bottom 25% of stores have been analysed and improvement plans put in place, Retail Acumen can then drill into the next tranche of stores, ensuring that step by step you are improving the return on space for your entire store portfolio.