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By The Numbers: December Not Quite as Bad

Published

12 years ago

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[h3]December Not Quite as Bad[/h3]

[dropcap cap=T]he bad news: December’s numbers were dismal. The good news? The percentage drop was less than in November. Interestingly, the average store sold 48 more items in December compared with the same month in 2007. However they reduced their average retail value by such a degree ($99, or 28 percent) that gross profit was slammed. Such a strategy is not sustainable. You have to get back to selling at full price. That could mean eliminating some vendors and focusing on serving your best customers by doing things such as throwing invitation-only private events. Cutting costs will also boost your margin.[/dropcap]

 

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David Brown is president of the Edge Retail Academy, an organization devoted to the ongoing measurement and growth of jewelry store performance and profitability. You can contact him at [email protected].

[span class=note]This story is from the March 2009 edition of INSTORE[/span]

If you’d like to contribute your own data and receive a personalized KPI report each month, call (877) 910-3343 or e-mail: [email protected].

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Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

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David Brown

By The Numbers: December Not Quite as Bad

Published

12 years ago

on

{loadposition davidbrownheader}

[h3]December Not Quite as Bad[/h3]

[dropcap cap=T]he bad news: December’s numbers were dismal. The good news? The percentage drop was less than in November. Interestingly, the average store sold 48 more items in December compared with the same month in 2007. However they reduced their average retail value by such a degree ($99, or 28 percent) that gross profit was slammed. Such a strategy is not sustainable. You have to get back to selling at full price. That could mean eliminating some vendors and focusing on serving your best customers by doing things such as throwing invitation-only private events. Cutting costs will also boost your margin.[/dropcap]

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David Brown is president of the Edge Retail Academy, an organization devoted to the ongoing measurement and growth of jewelry store performance and profitability. You can contact him at [email protected].

[span class=note]This story is from the March 2009 edition of INSTORE[/span]

If you’d like to contribute your own data and receive a personalized KPI report each month, call (877) 910-3343 or e-mail: [email protected].

{loadposition xtra-browncolumn}

Advertisement

Related Topics:

click to Comment(Comment)
Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

Promoted Headlines

Most Popular