April marked a retreat from March’s multi-metric record month. Even so, April’s numbers are still among the best from the previous six months.
Retail sales decreased in April, dipping below $50,000. Yet, the average sales by location of $48,304 is still the second highest total over the past six months. A drop of almost 300 transactions from March, or almost 10%, was a big reason.
The drop in sales and transactions may be traced back to a drop in production. The return to units produced between 22,000 and 23,000 brought sales back in line with months before March’s records. The increase in average price per piece back above $4.00 is notable though and a move in the right direction.
April brought a return to “normal”. March’s increase in production led to an increase in sales. April’s reduction in production led to a drop in sales. This strong correlation between production and sales defines the success for thrift operators. Addressing production – be it through efficiencies, staffing or both – can drive your organization to Do Thrift Better.
Metrics from thrift operators located across the country are compiled and analyzed monthly to identify trends in the thrift industry. Data includes all ThriftTrac users with locations having at least 1,000 customer transactions (retail) and 1,000 units processed (production).
ThriftTrac is business software for the thrift industry that turns data into actionable intelligence, driving greater profitability for thrift operations.