Actual
sales $ divided by budget/target sales $
Sales
compared to last year (or any other period):
Actual
sales $ for a given period divided by actual sales $ for the period you
want to compare to
Sales
per Square Foot:
Actual sales $ for a given period
(usually a month or a year) divided by the total floor area (in sq.ft.)
of the store. There are variants of this indicator in terms of sales per
square foot of merchandisable area of choice (like walls and display
units.)
Wage
Cost:
Actual
wage $ paid for a given period divided by actual sales $ achieved for
the same period
Retail Math-Made Simple:
Now
you can buy the book with complete
formulas and full explanation of how to use
them on a daily basis.
Average Sale per Customer/Transaction:
Total
sales $ for a given period divided by the number of customers or
transactions for the same period
Units
per Customer/Transaction:
Total
number of units sold in a given period divided by the number of
customers or transaction for the same period
Conversion rate:
The
number of transactions in a given period divided by the total number of
customers who entered the store during the same period
Sales
per Hour
(for store or associate) – selling hours only:
Actual
sales $ for the store divided by the number of selling* hours during the
same period
*selling hours are used here rather than total labor hours
Sales
per Hour
(for store or associate) – total labor hours:
Actual
sales $ for the store divided by the number of labor hours used during
the same period
Time Spent in the Store:
Average time spent by customers in the store can
be measured through sophisticated techniques utilizing RFID and wireless
technologies or manually. Reason for this measurement: There is a direct
correlation between time customers spend in a store and how much they buy.
You can find
techniques and methods to boost your KPI's in the Super Retail Success Bundle!
