May 17, 2021
I know... nobody wants to talk retail math and numbers. I get it. There are so many numbers we feel like we should be looking at within our business like profit and loss, balance sheets, etc, etc, etc. and we don't quite know where to start.
In this episode, I'm sharing three major (but simple) metrics that you'll want to be able to rattle off at the drop of a hat! These are numbers that I didn't even know existed when I first started running my shop. My shop was busy, we were making money… but I honestly had no clue where it was going. Or how to use these numbers to increase sales. Scary.
Do you know your KPI - Key Performance Indicators? They will help you PLAN FOR PROFITS and growth! It will help you find those little tweaks that will make all the difference in your sales. Here are three you'll want to measure:
- Foot Traffic
- Conversion Rate
- Average Transaction Value (aka as Average Order Value or AOV)
But where do I find these numbers and what do they mean? Why should I care about them? Today we are walking you through all of the processes of HOW to find the math behind your KPI's and why. So grab your coffee and calculator and let's get started!
Did you find this helpful? Do you want more help so you can soar?
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