A new six-month high was recorded for average transaction amount in February. The record drove an increase in sales over January, even with fewer days open. Perhaps February represents an inflection point and greater increases can be anticipated.
February saw improvements in virtually every metric. Average sales of $46,312 per location were tallied during a month with only 24 operating days. Daily sales averaged over $1,780 at each location. On average, 2,980 customer transactions of $15.54 took place to propel the increase in sales over January.
The number of units sold likely influenced the increase in sales. Interestingly, the number of units produced remained fairly constant, albeit with fewer days. Maintaining an increase in daily production will be important to continue driving sales higher. Protecting an average price per piece above $4 is also critical.
February demonstrated a higher level of efficiency. Even with few shopping and production days, both retail and production output numbers consistent with January. While the winter weather tends to depress sales during this season, the positive outcomes in average transaction amount may forecast greater improvements as the weather warms.
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.