An increase in the average price per piece offset slight declines in customer transactions and items sold to maintain sales month-over-month.
Retail sales in July continued to hold steady, albeit with few customer transactions. The summer months often see fewer shoppers as vacations take people out of the area. Each customer transaction averaged $16.30, offsetting the lower transaction volume and far exceeding the previous 12-month high of $15.96 recorded in May. Average sales by location were $49,481
The number of pieces produced dipped by 14% from previous two months, yet the average price per piece of those items was significantly higher at $4.35. The decline in pieces produced may be attributed to lower donation volume or fewer hours worked. Should this particular metric not bounce back, a decline in sales may be inevitable.
July displayed the effect of shoppers (and employees) going on vacation. The marked increase in the average price per piece made a dramatic difference in maintaining sales and increasing the average transaction amount.
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.