Retail sales indexes – uncovering the mysteries
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- Created: Thursday, 29 October 2015 07:47
Retail Sales Turnover Index RTI is first in Poland with a new project of “think tank” Retail & e-Commerce Institute, where the general goal is to enable to compare the sales results of the particular industries in shopping centres, shopping streets and in the Internet. Technologically the RTI project is supported by Tide Software.
Information worth its weight in gold
The goal of the project is the sales’ effectiveness study conducted in permanent weekly periods by providing reliable and accurate data which is necessary to manage a modern trading company. Attendants of the project will be able to compare up-to date sales results of shopping chains that have a similar business model in three basic formats: sales run in shopping centers, shopping streets and online sales. Such information is a proper base for strategic decisions making which is related to sales politics and marketing activities.
Innovative project
There is a challenge to encourage representatives of retail trade to share confidential information, in exchange for receiving summary results enabling benchmark. The Retail & e-Commerce Institute, whose President is Anna Szmeja – a person widely-known in retail industry, took the responsibility for establishing cooperation.
Methodology in creating RTI index is created by a group of mathematicians and statisticians from the Gdańsk University of Technology. This makes the RTI index the reliable and safe analysing tool despite the sales dynamic changes in Poland.
Tide Software is responsible for the software, including protecting sensitive data and it has been developing its own tool for online managing services supporting marketing and communication with a client for many years.
First reports in November
The PThe first report is going to be published in those categories: women fashion, footwear, jewellery, watches and accessories. Other categories will be contained in the next stages of the project, after gathering a representative and authoritative group of reporting companies. There is going to be a segmentation within the retail categories, which will enable the reliable comparing of sales results, e.g. by the size of the leased area, the customer’s target group or the assortments. The first reports will be available in November.