January brought an anticipated drop in sales, following the end-of-year shopping rush. However, improvements were made in 3 of the 5 key metrics. Should these improvements be maintained (or increased), higher sales can be expected in the months to come.
Although sales dipped, the average transaction amount in January set a six-month high mark. The $15.45 average amount spent by every customer is a notable improvement. Had the 3,750 transactions from October taken place, sales of almost $58,000 would have been attained. Again, the season prevented such high numbers of customer visits but the coming months could provide greater customers as the weather changes, as does a customer’s wardrobe.
The average price per piece exceeded $4.00. The amount of $4.14 represents at six-month high. The end-of-year donation period likely provided more (and better) items from which to choose. Unfortunately, the number of units processed in January is the lowest in the last six months. Although not far below the average values for November and December, increase production will be needed to capitalize upon the improvements in average price per piece.
The number of donations received unexpectedly climbed from December’s high too. In the coming weeks, production can be expected to benefit from an even greater selection of items.
Looking back a year ago, definite improvements can be seen. While January tends to experience a dip in sales, with the Christmas season passed and colder weather arriving, the increases in average transaction amount, average price per piece, and donations bodes well for the months to come. Producing the right number of units will be the challenge for the start of this new year.
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.