Retail Knowledge

These pictures are one of our stores that we operate. Our boss is very aware of how his stores should look like and thinks that convenient lifestyle store shall look like this. We agree, of course . This is a … Read the rest

FACTORS TO BE CONSIDERED

Three factors confront you as an owner-manager in choosing a location: selection of a city, choice of an area or type of location within a city; and identification of a specific site.

If you are going … Read the rest

Sales compared to budget/target:
Actual sales $ divided by budget/target sales $

Sales compared to last year (or any other period):
Actual sales $ for a given period divided by actual sales $ for the period you want to compare … Read the rest

Retail math is considered an integral part of a good retail manager’s skill set. It can be found on some companies pre-employment screening tests.

Calculation of a few commonly used profitability indicators:

Gross Margin:

GM % = (Selling Price – … Read the rest