RIA Benchmarks in Action
Conversation with Josh Heath
How frequently do you log in and check the benchmarks?
I log in about four to five times per week personally, but I know my team will use the login also to see the leaderboard. I like to start the day looking at sales, then I check to see where the store is compared to the other locations within our company and how we compare to the rest of the running industry.
How are you using the benchmarks?
I use the benchmarks (Team and Leaderboard) to identify staff strengths and weaknesses. This will help me with conversations with my team at morning meetings, calling out successes and failures. Everyone is motivated in different ways. Most of us are very competitive and when someone realizes they are the lowest performer in a category they really strive to get their numbers up.
What is most helpful about the information?
Having all this information compiled for us, and being able to log in and have it instantly available without having to run multiple reports, is a game changer in our fast-paced retail environment.
How do you use the Industry Pulse?
I use the Industry Pulse to identify items and categories that are performing well in other run specialty stores, so that I can have conversations with our buyer to possibly bring in other brands or products that we might be missing sales from.
What positive changes have happened in your store due to your access to the benchmarks?
Our store has gone from 9% to 10% in shoe-to-insert and shoe-to-sock categories to consistently 14% to 15%. We still have a ways to go to hit our goals, but having a way to instantly check in on how everyone is doing daily allows me to address situations before they become a trend in the wrong direction. I also recognize the strong performers to keep them motivated to keep their numbers up.
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