Retail today is at a turning point. Consumers demand seamless shopping experiences across physical and digital channels, while inflationary pressures and rapidly shifting buying behaviors continue to squeeze margins. In this landscape, retailers are increasingly asking themselves: “Are we performing at par with industry leaders, or are we falling behind?” The answer lies in performance benchmarking.
By systematically comparing critical retail KPIs such as inventory turnover, omnichannel fulfillment speed, customer conversion rates, and digital engagement against best-in-class standards, retailers uncover where they excel and where immediate improvements are needed.
Why Retailers Are Turning to Performance Benchmarking
Retailers today battle inventory inefficiencies, rising labor costs, and digital disruption. Industry studies show:
- Stockouts alone cost retailers nearly USD 1 trillion annually.
- 30–40% of retail operating costs stem from store operations and last-mile inefficiencies.
- Consumers abandon shopping carts worth USD 4 trillion each year, largely due to poor digital experience.
Benchmarking helps retailers decode these performance gaps by comparing their KPIs against top-tier global performers.
Nexdigm’s Retail Performance Benchmarking Approach
At Nexdigm, we recognize that retail success is driven by operational efficiency, customer experience, and adaptability. Our Retail Performance Benchmarking Services are designed to give retailers a 360-degree view of where they stand compared to industry leaders, and how they can close performance gaps. Our approach follows a structured methodology:
- Identify Relevant KPIs – From footfall-to-conversion ratios and basket size to e-commerce fulfillment time and return rates, we tailor benchmarking metrics to each client’s business model.
- Data-Driven Comparison – Using a blend of primary research, competitor intelligence, and industry databases, we map client performance against global and regional peers.
- Diagnostic Insights – Instead of static comparisons, Nexdigm delivers actionable insights, highlighting why performance gaps exist and how to address them.
- Strategic Roadmap – We co-create optimization strategies with clients, whether it is enhancing omnichannel capabilities, reducing logistics costs, or improving customer loyalty programs.
What differentiates Nexdigm’s approach is our ability to bring cross-industry perspectives and forward-looking insights. By benchmarking not only within retail but also against adjacent sectors like FMCG, logistics, and e-commerce, we help clients uncover hidden opportunities for transformation.
Nexdigm Case
A leading retailer partnered with Nexdigm to understand why store performance varied across regions. Our benchmarking study revealed key productivity and engagement gaps. By implementing targeted improvements, the retailer achieved an 18% drop in attrition and a 22% rise in employee engagement within six months—directly boosting store efficiency and customer experience.
How Leading Retailers Leverage Benchmarking
- Enhancing Customer Experience: Today, over 65% of consumers expect same-day delivery, and 80% abandon brands after poor service.
- Driving Operational Efficiency: Retailers face rising logistics and store management costs—accounting for up to 40% of total expenses.
- Accelerating Digital & Omnichannel Growth: With global e-commerce users surpassing 5 billion, speed and convenience now dictate who wins.
- Fostering Innovation and Agility: Top retailers benchmark tech adoption across sectors like FMCG and e-commerce.
To take the next step, simply visit our Request a Consultation page and share your requirements with us.
Harsh Mittal
+91 96549 82241