When we analyze store operation data, we need to make comparisons. “Comparison” can be divided into two dimensions: vertical and horizontal.
①Vertical: Compare with yourself. Compare the current store operation data with the past store operation data. ②Horizontal: Compare within the industry. Compare the data of peers, the industry data, and the market data. The time dimension of comparison should be extended to 1 week or 1 month.
When we compare both dimensions, the vertical and horizontal interweaving forms a network. From point to surface, comprehensive data can make you clear about your position in the industry and the gap between yourself and your peers.
Vertical comparison means comparing yourself with yourself, comparing the current store operation data with the past store operation data, and comparing them in terms of sales, order volume, conversion rate, average customer unit price, etc.
Horizontal comparison means comparing the operation data of your own store with the relevant data of competing stores, and comparing them in terms of sales, industry average conversion rate, and other indicators.