Monthly sales increased an average of 7% year-over-year, propelled by a surge of transactions of more than 12%.
Note: Q3 2018 saw utilization of ThriftTrac by more locations over previous quarters.
Continued Growth from Q2
The second quarter of the year recorded some steady growth in sales. The third quarter continued this trend with August charting the second highest month in sales over the past 12 months. The 7% increase in sales was largely due to a higher volume of customers.
Average Transaction Amount
With the customer count increasing faster than sales, the average transaction amount dropped. While this observation is not alarming by itself, it hints that customers are leaving the store with fewer items than a year ago. If so, the amount of available inventory may be lacking.
By focusing on August, an increase in average number of units processed can be seen to increase the number of units sold. The 1,600 additional units processed led to more than 900 additional units being sold. In an industry where little control can be wielded over quantity and quality of donations, processing an increasing number of units leads to higher sales.
The last quarter of the year includes the busiest donations times of the year as well as the most holidays. Managing staff to receive and process donations is a challenge.
Knowing the metrics that matter help you maximize your sales and profit potential. ThriftTrac makes capturing data easy so you can make informed decisions.
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.