Key Responsibility Areas (KRA) & Key Performance Indicators (KPI) for Boutique Store Manager
1. Sales Management
KRA: Driving sales growth and revenue generation through effective strategies and customer engagement.
Short Description: Boosting store sales performance.
- KPI 1: Monthly Sales Revenue
- KPI 2: Conversion Rate
- KPI 3: Average Transaction Value
- KPI 4: Customer Acquisition Cost
2. Inventory Management
KRA: Ensuring optimal stock levels, minimizing stockouts, and managing inventory turnover efficiently.
Short Description: Maintaining inventory accuracy and efficiency.
- KPI 1: Inventory Turnover Ratio
- KPI 2: Stockout Rate
- KPI 3: Dead Stock Percentage
- KPI 4: Order Fulfillment Accuracy
3. Staff Management
KRA: Leading, training, and motivating store staff to deliver exceptional customer service and meet sales targets.
Short Description: Fostering a high-performing team culture.
- KPI 1: Employee Turnover Rate
- KPI 2: Customer Satisfaction Score
- KPI 3: Training Hours per Employee
- KPI 4: Sales per Employee
4. Customer Experience
KRA: Enhancing customer satisfaction, loyalty, and retention through personalized service and positive shopping experiences.
Short Description: Improving overall customer experience.
- KPI 1: Net Promoter Score (NPS)
- KPI 2: Customer Retention Rate
- KPI 3: Average Customer Wait Time
- KPI 4: Repeat Purchase Rate
5. Marketing and Promotions
KRA: Planning and executing marketing campaigns, promotions, and events to drive foot traffic and increase brand awareness.
Short Description: Implementing effective marketing strategies.
- KPI 1: Return on Investment (ROI) of Marketing Campaigns
- KPI 2: Social Media Engagement Metrics
- KPI 3: Foot Traffic Increase Percentage
- KPI 4: Email Marketing Conversion Rate
6. Financial Management
KRA: Monitoring and optimizing store expenses, budgets, and financial performance to ensure profitability and cost-efficiency.
Short Description: Managing store finances effectively.
- KPI 1: Gross Profit Margin
- KPI 2: Operating Expense Ratio
- KPI 3: Cash Flow Forecast Accuracy
- KPI 4: Return on Investment (ROI)
7. Store Operations
KRA: Overseeing daily store operations, including merchandising, cleanliness, safety, and compliance with regulations.
Short Description: Ensuring smooth store functioning.
- KPI 1: Store Compliance Audit Score
- KPI 2: Shrinkage Rate
- KPI 3: On-Time Opening and Closing Rate
- KPI 4: Inventory Accuracy Rate
8. Vendor Management
KRA: Developing relationships with suppliers, negotiating contracts, and ensuring timely deliveries of quality products.
Short Description: Managing vendor partnerships effectively.
- KPI 1: Supplier Quality Rating
- KPI 2: On-Time Delivery Performance
- KPI 3: Cost Savings from Negotiations
- KPI 4: Vendor Relationship Satisfaction Score
9. Trend Analysis and Forecasting
KRA: Monitoring market trends, analyzing sales data, and forecasting demand to optimize product offerings and pricing strategies.
Short Description: Staying ahead with market insights.
- KPI 1: Sales Trend Analysis Accuracy
- KPI 2: Inventory Forecasting Accuracy
- KPI 3: Competitor Analysis Effectiveness
- KPI 4: Pricing Strategy Success Rate
10. Technology Integration
KRA: Implementing and leveraging technology solutions to streamline operations, enhance customer experience, and drive digital sales.
Short Description: Embracing technology for business growth.
- KPI 1: Technology Adoption Rate among Staff
- KPI 2: Online Sales Growth Percentage
- KPI 3: Customer Engagement through Digital Platforms
- KPI 4: Technology-related Cost Savings
