Retail Benchmarks Adds Over 100 New Members and Launches Store Labor Management Study at NRF 2006
Posted on: Thursday, 19 January 2006, 18:00 CST
NEW YORK, Jan 19 /PRNewswire/ -- Retail Benchmarks, Inc., an independent firm dedicated to defining best practices in the retail industry, registered over 100 new members at NRF 2006, and had a very successful launch of their newest Retail Revelations(TM) Benchmark Study, "Store Labor Management".
The Store Labor Management study is designed to help retailers understand not only how they compare to similar retailers in store labor management, but more importantly, how to become more efficient in their use of labor in the stores while maintaining sales and customer service. As with all Retail Revelations studies(TM), this one will define best practices in store labor management through benchmarking results and the correlation of performance results to related process characteristics and metrics.
"It is easy to understand why we received such an enthusiastic response at NRF for our Store Labor Management Study. Labor is one of the three largest expense categories for a retailer. Store labor efficiency, designed to promote sales and maintain long-term customer loyalty, is measured in terms of labor cost, sales productivity, and customer service," says Marianne Gregory, President of Retail Benchmarks. "Similar retailers need to know how they compare in payroll expense, but more importantly, retailers want to know how they can be more effective in their use of labor at the stores."
"Simply knowing something is broken isn't going to really change a retailer's bottom line. Helping them understand what dials to turn to fix it - will," says Brenda Moncla, VP Research Technology at Retail Benchmarks. "Our comprehensive retail model includes the definition of all retail mission critical processes, their relationships and intersections, and how they drive performance metrics. By leveraging our unique retail data model and data warehousing techniques, we are able to correlate and link the information, ultimately proving the connection between the process characteristics and results - the basis of true Best Practices. After all, just because everybody does something doesn't make it a best practice."
About Retail Benchmarks, Inc.
Retail Benchmarks, Inc., an associate member of NRF (the National Retail Federation) with offices in Atlanta, Chicago, and Sacramento, is an independent company dedicated to defining retail best practices and capturing retail-specific process measurement information that highlights areas of opportunity and improvement for its member companies. Retail Benchmarks membership is FREE. All Retail Benchmark members have immediate access to Retail Connections(TM), an online member-only forum where retailers can discuss and share their ideas, questions, and experiences with complete security and anonymity. Retail Benchmarks members can also browse the Retail Connections library and download any of the process focused white papers from leading retail industry experts and thought leaders. Retail Benchmarks also provides its members with the opportunity to participate in Retail Revelations(TM), a series of benchmarking studies that provide retail management process performance expectations and expertise from best-in-class retailers. Retail Revelations(TM) gives members a unique perspective that enables them to not only compare their bottom-line results to standard retail performance metrics of similar retailers, but to leverage their ability to benchmark their key process related characteristics with their peers to better understand the specific actions that can be taken to improve outcomes. The price of each benchmarking study is dependent on the level of reporting purchased. Results of each study are only available to the study participants.
Visit http://www.retailbenchmarks.com/ for more information.
First Call Analyst: FCMN Contact:
Retail Benchmarks, Inc.
CONTACT: Media, Terri Murphy of Retail Benchmarks, +1-770-516-7168, ortmurphy@retailbenchmarks.com
Web site: http://www.retailbenchmarks.com/
Source: PRNewswire
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