RetailNext, the leading analytics solution for bricks-and-mortar retailers, today announced that it will partner with the Retail Think Tank to produce its quarterly Retail Health Index, alongside existing co-chair and global consultant, KPMG.
First established in 2006 by KPMG and market research leader, Ipsos, the Retail Health Index is the industry’s only comprehensive, sector-level benchmark of retail performance. With almost three decades of data, encompassing pivotal moments that defined and redefined retail – from the 2008 Financial Crash and ensuing ‘Credit Crunch’ to Brexit, Covid-19, the post-pandemic recovery and, most recently, the cost-of-living crisis – the Retail Health Index assesses the sector’s key performance indicators, including demand, margin and cost.
Each quarter, it is independently scored by Retail Think Tank members – an elite advisory board comprising industry experts, thought leaders and analysts, including Nick Bubb, former GlobalData Director Maureen Hinton, and NielsenIQ’s Mike Watkins – to benchmark retail health for the past three months, and predict how performance will evolve in the next quarter. This year author and Retail Technology Magazine publisher, Miya Knights, and retail consultant and author, Natalie Berg, will join the panel as new members, bringing fresh insight and perspective to the wealth of expertise and industry know-how of the Retail Think Tank advisory board.
Following RetailNext’s acquisition of Ipsos’ people-counting and footfall solution, Retail Performance, in November 2022, which had formerly co-produced the Retail Health Index, RetailNext will now produce the quarterly index in collaboration with co-chair, KPMG.
Paul Martin, UK Head of Retail at KPMG, commented: “From its very inception back in 2006, the Retail Health Index has been a formative resource for retail businesses and leaders, aiming to quantify the knowledge of the Retail Think Tank members in a systematic way, whilst also providing an assessment of the overall retail health, for which there was traditionally no ‘official’ data.”
“Having been the voice reporting on retail health for almost three decades, we’re excited to welcome RetailNext as our co-chair for the Retail Health Index, and through the partnership we look forward to continuing to help retailers set a course for success as they navigate the multifaceted pressures, challenges and opportunities the market continues to present,” he added.
Gary Whittemore, Head of Sales, EMEA & APAC at RetailNext, commented: “With the fast-moving and multi-dimensional challenges facing retailers, impacting every area and function of their businesses, the Retail Health Index is not just a valuable indication of sector health. Crucially, it also dissects and contextualises the key factors impacting performance, drawing on the extensive knowledge and expertise of the Retail Think Tank membership. This results in a quarterly playbook for retailers, which outlines actionable insights and strategies to create competitive advantage in the context of the market, to drive retail businesses forward and readdress the balance of health back in the retailer’s favour.”
As well as being available online, a digest of the results of the Retail Health Index, including wide-ranging insight, contextual analysis and exclusive data-sets on key performance metrics, is available in a quarterly report, which is free for retailers to download.