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By The Numbers: Grim Figures No Reason to Despair

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13 years ago

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[h3]Grim Figures No Reason to Despair[/h3]

By The Numbers: Grim Figures No Reason to Despair

[dropcap cap=T]he November figures from our survey group certainly make grim reading. Still, they’re no reason to despair, although they suggest you’re going to have to get creative with  your average retail value, achieved margin, purchases and expenses. If your sales are down by say 20 percent, then your average retail value needs to be increased by 20 percent — e.g. an $80 item needs to become a $96 item — to keep your numbers up. If you can manage only a 10 percent increase in your average retail value then you need to boost your margin to make up for the lost gross profit. You’ve got work to do![/dropcap]

By The Numbers: Grim Figures No Reason to Despair

 

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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 February 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 | Zadok Master Jewelers

Stick to the Program — And Watch Your Sales Grow

When Zadok Master Jewelers in Houston, Texas, decided to move to a new location (they’d been in the same one for the 45 years they’d been in business), they called Wilkerson to run a moving sale. The results, says seventh-generation jeweler Jonathan Zadok, were “off the charts” in terms of traffic and sales. Why? They took Wilkerson’s advice and stuck to the company’s marketing program, which included sign twirlers — something Jonathan Zadok had never used before. He says a number of very wealthy customers came in because of them. “They said, ‘I loved your sign twirlers and here’s my credit card for $20,000.’ There’s no way we could have done that on our own,” says Zadok. “Without Wilkerson, the sale never, ever would have come close to what it did.”

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David Brown

By The Numbers: Grim Figures No Reason to Despair

Published

13 years ago

on

{loadposition davidbrownheader}

[h3]Grim Figures No Reason to Despair[/h3]

By The Numbers: Grim Figures No Reason to Despair

[dropcap cap=T]he November figures from our survey group certainly make grim reading. Still, they’re no reason to despair, although they suggest you’re going to have to get creative with  your average retail value, achieved margin, purchases and expenses. If your sales are down by say 20 percent, then your average retail value needs to be increased by 20 percent — e.g. an $80 item needs to become a $96 item — to keep your numbers up. If you can manage only a 10 percent increase in your average retail value then you need to boost your margin to make up for the lost gross profit. You’ve got work to do![/dropcap]

By The Numbers: Grim Figures No Reason to Despair

Advertisement

 

 

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 February 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)
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Zadok Master Jewelers

Stick to the Program — And Watch Your Sales Grow

When Zadok Master Jewelers in Houston, Texas, decided to move to a new location (they’d been in the same one for the 45 years they’d been in business), they called Wilkerson to run a moving sale. The results, says seventh-generation jeweler Jonathan Zadok, were “off the charts” in terms of traffic and sales. Why? They took Wilkerson’s advice and stuck to the company’s marketing program, which included sign twirlers — something Jonathan Zadok had never used before. He says a number of very wealthy customers came in because of them. “They said, ‘I loved your sign twirlers and here’s my credit card for $20,000.’ There’s no way we could have done that on our own,” says Zadok. “Without Wilkerson, the sale never, ever would have come close to what it did.”

Promoted Headlines

Most Popular