Chicago -- Leading retailers are much better than other retailers at collecting data, measuring activities, acting on their insights, and measuring again to see the results, according to A.T. Kearney’s 2013 Achieving Excellence in Retail Operations (AERO) Study.
The study also revealed that even with the proliferation of technology and vast quantities of store and customer data, retailers also need to focus on the core principles of retailing – employees, customers and the interactions among them. The retailers that most actively engaged their employees and customers were the most successful, according to the report.
“Leading retailers encourage measurement of the right data, invest in the skills to gain insights from that data, and use those insights effectively to frame future actions,” said Joel Alden, A.T. Kearney partner and co-author of the study.
In the area of store operations, the AERO study analyzed the importance of field managers. The study findings show that across the board – at the district and regional level and above – managers are overseeing more stores than in the 2010 study. Retail field managers are spending too much time on administration and not enough time in the field.
The AERO study also addressed the importance of front-line staff, and found that while these employees interact with customers all day long, gaining valuable insights into customer needs, few retailers take full advantage of these insights.
Adam Pressman, A.T. Kearney principal and co-author of the study, commented, “The problem today is a lack of formal requirements or processes to gather these employee insights. Leading retailers create formal pipelines that capture and use these insights.”
To access the full report go to www.atkearney.com/AERO