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Retail Strategy - Retail Math
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Retail Strategy - Retail Math
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25 Questions

1. Markup on retail price NOT cost

2. 3 main types of retail math measures

3. Hard measures

4. The amount I make per product in dollars and cents

5. 1. Expenses (Direct & Indirect) 2. Potential markdowns (IMU needs to be high enough to cover potential markdowns) 3. Leave room in that IMU for a contribution to profit

6. 1. In dollars (how much will it hurt) 2. Percent of sales (measure of relativity... compare to IMU%)

7. Why have 2 measurements? (WOH v Turns)

8. Ways to evaluate the health of your turnover

9. 1. If you have a negative margin item 2. A "high out-of-stock" item

10. How to determine if your GMROI is GOOD (2 rules)

11. Initial Margin (IMU)

12. Weeks on hand (weeks of supply)

13. 1. Financial - provide a comparable base for everything else we calculate 2. Pure psychology - it sounds better!

14. Reasons we use scorecards

15. Overall sales increase

16. The number of times your average inventory is sold

17. Initial Margin Mix

18. - Indicates how well the buyer did with what they have - Used to help the buyer better utilize their inventory - Best measured over a year's time

19. 3 ways a category manager uses average price to compare things

20. The portion of a product's price that is made up of the product's cost to the retailer

21. $10000 in markdowns and that was 10% of total sales for that item

22. Two most important measurements

23. Average price varies naturally by

24. What the retailer might make if everything goes perfectly

25. When forecasting sales or deciding how much to buy use...

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