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Retail Knowledge

Flying Below the Radar

These pictures are one of our stores that we operate. Our boss is very aware of how his stores should look like and thinks that convenient lifestyle store shall look like this. We agree, of course . This is a cool store don’t you think? Anyhow, for day to day operational matters, i found below […]

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Retail Knowledge

CHOOSING A RETAIL LOCATION

FACTORS TO BE CONSIDERED Three factors confront you as an owner-manager in choosing a location: selection of a city, choice of an area or type of location within a city; and identification of a specific site. If you are going to relocate in another city, naturally you consider the following factors: Size of the city’s […]

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Retail Knowledge

Example of Store KPIs

Sales compared to budget/target: Actual sales $ divided by budget/target sales $ Sales compared to last year (or any other period):Actual sales $ for a given period divided by actual sales $ for the period you want to compare to Sales per Square Foot:Actual sales $ for a given period (usually a month or a […]

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Retail Knowledge

RETAIL MATH

Retail math is considered an integral part of a good retail manager’s skill set. It can be found on some companies pre-employment screening tests. Calculation of a few commonly used profitability indicators: Gross Margin: GM % = (Selling Price – Cost) x 100 / Selling Price Example: You sold an item for $49.95, and the […]