Fewer selling days in December led to lower total sales but average transaction amount was up.
Similar to November, open hours decreased as stores closed for Christmas and New Year holidays. Fewer selling days resulted in a decrease in sales. Even so, the average transaction amount for each customer increased.
In considering seasonal trends, expect donations to be abundant into January but sales won’t likely come close to record territory again until the warm weather begins again.
The number of pieces produced exceeded 21,000 pieces again but are still lower than the 22,750 pieces produced in December 2016. The number of available units for sale certainly impacted the total number of pieces sold. The 10,875 pieces sold fell below 11,000 pieces for the first time in almost a year. The average price per piece metric dropped to $4.30 from the previous month’s $4.38 but still is well above the $3.67 recorded in December 2016.
2017 proved to be a banner year in many respects. The general economic prosperity experienced across the U.S. led to purchases of new items. In turn, more donations of gently-used items were made to thrift stores. The sorting and pricing of these donated items led to more available product for purchase. And these one-of-a-kind items found their way into customers’ homes, increasing sales in total.
The ability to process donations efficiently at the right price point continues to provide the greatest opportunity for improvement. Sales are directly correlated with the amount of available product to sell. Finding ways to produce more product with the available items from donations is the best way to drive sales (and profits) higher.
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.