March set a new benchmark for virtually every thrift industry statistic. A combination of warming weather and improvement in thrift operations led to some impressive results.
The $54,659 in average sales represents a record over the last six months as well as the last 12 months. The contributors to this new record include a 15% increase in number of customer transactions as well as a higher transaction amount of $15.91. Taken together, these two metrics inform the $8,000 increase over February’s sales.
Another primary contributor to March’s record sales is the number of units produced. The more than 16% increase provided more merchandise to be sold. As the number of units produced increased, so did the number of units sold. The only pull back was in the average price per piece, although the $3.98 value is still in the top half of the last six months.
March’s increase in production led to an increase in sales. These highly correlated metrics should direct efforts in thrift management.
March enjoyed some additional positive influences, like an extra working day and warmer weather. Time will tell if a new trend is underway or if March represents a single high.
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.