Retail average transaction value is calculated by dividing the total value of all transactions by the number of transactions or sales. Average transaction value is an important kpi retail metric to understand. For example: ... Up-selling products or services to increase the average transaction value
What are Retail Metrics?
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A retail KPI or metric is a performance measurement to track important retail processes in an efficient way. These KPIs are used by retailers to increase profits by identifying consumer patterns as well as bottle-necks within the ordering or shipping process.
Growing a retail business requires expanding, in terms of increasing physical store locations or getting more customers into the store. There are several other ways of boosting profits, though these are often overlooked by most retail store owners. While you must be keeping up with figures like total sales, cost of goods sold and overhead costs, having tabs on the following retail metrics will ensure that you are in control of the other elements of your business that ultimately impact your profit margins.