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KPIs help retailers improve their marketing strategies so they can more effectively target their audience by providing insights into the behavior, preferences, & purchase patterns of their customers. Also, conversion rate key performance indicators (KPIs) show how well marketing campaigns are generating sales and new customers.
This precision in forecasting translates into better inventory planning, resource allocation, and marketing efforts – ensuring resources are invested where they yield the highest returns. Real-time monitoring allows businesses to stay agile—adjusting strategies as market dynamics shift.
In the context of furniture retail, where capital investments in inventory can be substantial, proactive cash flow management is crucial for maintaining financial stability and seizing growth opportunities. Inventoryturnover, or inventory turns, is defined as the inventoryturnover ratio.
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