If a Gap Analysis is the single most important collection of information about any company’s new retail initiatives or strategies, then Store Selection must certainly be second.
The Store Selection process is a key element in the success of any GAP Analysis project, Pilot Implementation, or IT enhancement testing to a company. The ability to look at the business and identify the stores that present the greatest diversity and direction for how a company executes is vital to identify the path to greater success. Identifying a group of stores offering a range of diversity and opportunity for direction and change will present the best opportunity for measurable results. There are many parameters to be evaluated during and prior to the final selection of stores and these parameters should be agreed upon by all cross functional teams.
Selection of the stores utilizing these basic parameters will result in a broad overview of how well current processes are implemented and executed; how previous projects have been sustained by tracking measurable benchmarks and goals. The selection of stores must be agreed upon by the cross-functional teams as to eliminate bias or skewed results. Identified gaps found during the GAP Analysis can then be addressed and monitored allowing for the business to capture the desired financial or process improvements defined in the initial findings. The ultimate success will be sustainability of the gap findings.