How do you analyze a retail store?

1. Visit the Stores.
2. Analyze Promotional Activities.
3. Examine Gross Margin Trends.
4. Focus on Sales-Per-Square-Foot Data.
5. Examine Inventory/Receivable Trends.
6. Examine Same-Store Sales Data Closely.
7. Calculate and Compare P/E Ratios vs. Expected Earnings Growth Rates.
8. Tabulate Tangible Book Value.

What are retail analytics?

Retail analytics is the process of providing analytical data on inventory levels, supply chain movement, consumer demand, sales, etc. that are crucial for making marketing, and procurement decisions.

What are the five elements of retailing?

The five elements that make retail promotions successful

• Develop a retail brand positioning that differentiates the brand.
• Get on the shopping list.
• Build a promotional calendar.
• Make the sale today and build the brand for tomorrow.
• Bring it to life instore.

What is a Merchandising report?

Merchandising reports provide businesses with information regarding the conditions of their products on the shelf.

How is data analytics used in retail?

Data analytics help retailers in analyzing how customers shop and use this data to produce a seamless customer experience. From choosing a product to buying it, data analytics focuses on providing personalized attention to each customer. This experience goes a long way in gaining customer loyalty.

What are the 4 principles of retail marketing?

Having a unique commodity is only the first step — addition components of retail marketing include ergonomic packaging, competitive pricing, and sales campaigns. The four gold standards of retail marketing are product, price, place, and promotion.

How do you write a retail report?

How do you write a sales report?

1. Decide how your sales report will look.
2. Consider your audience.
3. Include the appropriate information.
4. Determine your current and previous periods.
5. Compile your data.
6. Present your information appropriately.
7. Double-check your data and information.
8. Explain your data.

How do you record retail sales?

Three Types of Records a Retailer Should Keep in Case of an Audit

1. A journal of non-cash transactions affecting accounts payable.
2. A journal on cash transactions, including any check transactions.
3. Sales slips, invoices, receipts, cash register receipts and other comparable documents for original sales.

How do you analyze store performance?

How to Measure Retail Performance? 5 Essential Metrics

1. Number of Customers (Customer Traffic)
2. Effectivity (Retail Conversion Rate)
3. Customer conversion ratio = No of transactions / Customer traffic x 100.
4. Average Sale (Average purchase value)
5. Average sales order value = Total sales value / Number of transactions.

What is an important aspect of retail?

The four Ps – Product, Price, Place, Promotion – are the basic foundations of a successful retail business.