KPMG's Global retail trends 2018 report highlighted customer experience as the most important trend in 2018. It also claims that "Experience per square foot" will be the next metric to measure retail success!
Though an excellent concept, the "Experience per square foot" will be incomplete if it does not translate into direct sales of the retail product or service.
At the heart of such success will be an ability to not only deliver a great customer experience but also knowing what product or services the customer requires and making them available in the shortest possible cycle time.
Going back to basics, shorter the cycle time greater the benefit!
The customer experience is more important than ever as retailers are striving to differentiate themselves in a challenging and crowded market. Consequently, experience per square foot will be the new retail metric to measure success.