MODULE 9
MEASURING PROFITABILITY
* All questions in Module 9:-
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1. Provide the following details.
* Average foot falls: approx no. of customers visiting the Store in a day.
* Average conversion rate: percentage of the customers visiting the stores who made purchases.
* Average bill size.
* Sales per square feet (SPF).
1. Provide the following details.
* Average foot falls: approx no. of customers visiting the Store in a day.
ANSWER:-
1) Customer lifetime value.
2) NPS scores and serveys
3) Recency and purchase rate
4) Chum rate
5) Customer reviews and testimonials
6) Ticket volume
7) Social engagement
8) Email engagement
* Average conversation rate: percentage of the customers visiting the stores who made purchases.
ANSWER:-
- Between 2 percent and 5 percent a good conversion rate is between 2 percent and 5 percent.
- The thing with conversion rate is that even a jump of 0.5 percent can be deal. Moreover, we must mention that the top brands enjoy better results.
ANSWER:-
Average bill size is a measurement that looks at the dollar amount of sales per customer.
Computing average ticket size is computing the mean which is calculated as the total sales divided by the number of customers. Many companies use average ticket calculations in their sales and profitability analysis.
* Sales per square feet (SPF).
ANSWER:-
Sales per square feet, sales per square feet is your store's average revenue for every foot of sales space, including non-selling space such as your stock room, fitting room, and receiving areas. To calculate, it divide your sales by the store's total square feet of sales space.
