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3 Key Retail Sales Reports to Run Daily

Posted by Emily Fanning on Apr 19, 2018
Emily Fanning

While certainly not the only metric indicative of its success, store sales is the ultimate indicator of the health of your retail business. Are you selling or not?! The below KPIs give you a snapshot of your overall performance and profitability and will not only help you plan proactively, but will also keep you honest. Commit to running these 3 retail sales reports for each of your channels as well as for the business as a whole.

Gross Profit Margin
A gross profit margin report is a high level gauge of what you are making prior to expenses. Choose to assess monthly, quarterly and annually. This calculation can help you determine whether or not you need to revise your markup, markdown, promotion or marketing strategies. It also is a great tool for comparing different locations.

Your gross profit margin can be calculated by: Gross Profit / Total Sales  X 100

Calculate your gross profit by taking your sales and subtracting cost of goods sold. In a POS system like Springboard Retail, this metric is built in automatically, saving time (and money)!

Analytivs_GrossMargin

Some questions to ask:

  • Is my current profit margin optimized to fuel sales?
  • What other options do I have to move excess inventory besides markdowns?
  • Do my markups reflect the perceived cost of the item among my customers?

Sales Performance by Category
In this report, we are measuring Net Sales by Category with Sold Margin Percent, giving us a view of which categories are selling the best and how margin compares between categories. At a high level, this report indicates which categories your customers are responding to and whether or not they are performing. You can also run this by brand to assess which vendors are achieving results.

Analytics_SalesByCategory

Some questions to ask:

  • How can I adjust my category mix to maximize profitability?
  • Are my top performing categories making me profitable?
  • Should I expand or eliminate certain categories?
  • Are certain categories performing differently in different locations? Do transfers need to occur?

Average Transaction Metrics
Looking at transaction data such as average transaction value (ATV) and units per transaction (UPT) allows you to pinpoint your average customer spend as well as the number of items they are buying. This is an especially useful KPI if you have multiple locations, helping you to visualize the uniformity (or not) of your customer base. This data should be available through your POS reporting; however it can also be calculated by:

ATV = Net sales / No. of Transactions (within a given time period)

Analytics_ATV

Some questions to ask:

  • Is there an opportunity to boost UPTs through sales training or add-on items at the cashwrap?
  • Does my customer gravitate toward higher priced items; how can I enhance this experience?
  • What promotions can I use to incentivize customers to increase ATV?

For more retail reporting ideas, download our FREE Analytics Report:

Analytics-Report-LP-CTA

Download Now!

Topics: Retail Analytics

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