May 11, 2016
Retailers Needed For Research Study
Your bills are paid, the lights are on and inventory is turning over — but how is your store really doing?
In today’s competitive retail world, looking at your books and your bank account level and feeling that everything’s all right is tantamount to resting on your laurels. That’s not something that will let you survive swings in the market. One way to improve the perspective you have of your own business is to measure your stats against similar retailers with similar demographics. NSSF’s 2016 Financial Benchmarking Report was created to help you do just that—but we need your help.
NSSF is looking for retailers of all size and valuations to complete a survey that forms the foundation for this report. Taking the survey generally takes less than 30 minutes, and the materials you submit are completely secure. There are several benefits you’ll get for participating including a full report, free of charge, of scrubbed and aggregated financial data that will allow you to better understand industry financial averages. .
“Every year we get dozens of requests from retailers across the country wanting to know how they stack up against other stores similar in footprint to theirs, so we wanted to provide that opportunity,” said Jim Curcuruto, NSSF Director, Industry Research and Analysis. “The report includes data on sales per square foot, profitability margins, total revenue, number of full-time employees and dozens of other critical financial data points. Retailers taking the survey can then look at their data compared to that from similar establishments and work with that information to identify areas of improvement.”
Submitting financials are an important part of the survey, and NSSF ensures complete confidentiality and security.
“We fully understand the sensitivity of the materials our retailers submit during the survey process,” Curcuruto emphasized. “I want to emphasize that all your records and personal information are kept completely confidential and are combined with other store data to form averages so no individual company information is available. Those financial materials are submitted directly and confidentially to our survey partner Industry Insights, and that information is not shared with NSSF or any other party.”
Taking the Financial Benchmarking survey is free, and not only will you receive the financial report free of charge and access to a personalized online reporting tool, you’ll also be entered to win one of two Leupold BX-3 Mojave Pro-Guide HD 10x42mm binoculars. For more information and to take the survey, click here.