Drilling Down for Higher Performance

by Danny Summers

We are excited to announce a whole new level of Awards that we will present at The Fall Event 2024. They have been developed through collaboration within The Group Team, particularly Tim Quebedeaux and Sid Raisch. In the last 3 years, the level of benchmarking through The Group's Annual P&L Study has become more detailed. For years, Group Centers were comparing themselves to Total Group Averages and then against the Best Practices Group Averages.

But, as the terms apply, these are Averages and within each of these groups, there are Centers that are higher and lower to produce the Average. But what about the best-performing Centers? Who is performing best?

This is when we began to recognize the Best of the Best, being the top 10 performing Centers. This big leap forward was to show each Group Center what is possible. But even these were shown as an Average across the 10 Best of Best Centers.

The next question is... How can we drill down even more?

The answer is... Who is doing the best in each key category... and why?

Once we looked at these Centers, we realized they are not necessarily in the Best of Best Group for overall performance. Still, they are the best in a single category or multiple categories. And if we study these Centers, what can we learn from what they are doing to be a Best in Category?

Understanding how these Centers are doing so well in single or multiple categories may help other Centers to improve their performances as well.

So what is possible? What can we learn? Currently, we don't know but exploring this together will surely provide new ideas, and new levels of benchmarks... by category!

We will have a preview of this next level of benchmarking - this Thursday as Tim Quebedeaux joins us in our next GROUPtalk LIVE session. He will provide an overview of the key categories we will be exploring. More details are below as well as a reminder of how the invitations are sent out.

You may be wondering... Who will receive these new Best in Category Awards?

The answers to that question will only come at The Fall Event 2024!  Have you registered yet? Our hotel block is filling quickly. Follow the RED BUTTON below!

And... will you be at Cultivate'24 on Sunday and working the show floor? If you will be there, I invite you to help me with the Retailers Choice Awards™. Sign-up details are below.