This article explains how to use the Benchmark Metrics cards available in the Places, Chains and Centers sections. These three cards help you understand the relative performance of whatever you're analyzing.
This article covers:
Above: The Benchmark Metrics as seen in the Places section
In all sections, the Benchmarking Metrics are provided as three cards:
Selection Index card - An index for the Place, Chain or Center being analyzed
Market Index card - An index for the wider market
Difference card - A value indicating how the selection is performing compared to the market benchmark
↳ Selection Index card
Above: The Selection Index as seen in the Chains section
The first card is called the Selection Index. Depending on what section of the platform you’re in, it will be called the Place Index, Chain Index, or Center Index.
In all cases it provides a value for the year-on-year growth in foot traffic. It compares how foot traffic in the trailing twelve months has increased or decreased in relation to the previous twelve months. This value is given as a percentage.
The Place Index and Center Index only include data from the Place or Center being analyzed.
The Chain Index includes all of the places that fit the following criteria:
The place is part of the chain being analyzed
The place is in the location / group being analyzed
The place is a comp store
⚠️ Note: In the Chain Index, only comp stores are included. Comp stores, or comparable stores, are those that have been open throughout the entire two year comparison period. This is so that the index is not skewed by stores that open or close during the period.
If a store opens after the period begins, the growth value would be inflated. If a store closed during the period, the growth value would be deflated. As such, only comp stores are included in the index calculation.
↳ Market Index card
Above: The Market Index as seen in the Places section
The second card is called the Market Index. If you're analyzing a place, it will be called either the Market Index or the Center Index (depending on whether the place is in a center or not). In the Chains section it is called the Market Index, while in the Centers section it is called the State Center Index.
Again, this index looks at the year-on-year growth in foot traffic as calculated in the Selection Index. In all cases, the focus of the calculation expands to the wider market.
In the Places section
Above: Hover over the i to reveal the Market Index, as seen in the Places section
When you’re analyzing a Place the market is one of three options:
Places in the same center - when the store is located in a center, mall or plaza
Places in the same city and category - when the store is located in a city
Places in the same state and category - when the store is located in a rural area
In the Chains section
Above: Hover over the i to reveal the Market Index, as seen in the Chains section
When you’re analyzing a Chain, the market is based on the chain’s category and the location that is being analyzed.
⚠️ Note: If you are analyzing a Custom Group, the Market Index defaults to the national average for that category.
In the Centers section
Above: Hover over the i to reveal the Market Index, as seen in the Centers section
When you’re analyzing a Center, the market includes all of the centers contained in the same state.
⚠️ Note: As with the Chain index above, all Market Index calculations only include comp stores.
↳ Difference card
Above: The Difference card as seen in the Centers section
The final card is the Difference card and it is identical in every section of Almanac. It presents the Selection Index minus the Market Index and displays the value in percentage points.
This gives you an instant way to understand whether your selection is under- or over-performing the market. Positive values indicate the selection is outperforming the market benchmark while negative values indicate the selection is underperforming the market.