Control and monitoring of indicators is necessary not only for large enterprises. If a small store or HoReCa establishment plans to gain a foothold in the market and have a constant planned income, it is necessary to keep records of such a parameter as the average check. This indicator will provide information on the depth and width of the range, the effectiveness of the sales staff.
How to calculate
The average check, the formula of which is simple and understandable even to an amateur, is easily calculated even by a layman. Revenues for a certain period, divided by the number of checks for the same period, will give the desired result. It is important to consider the level of inflation, changes in the purchase price and margins on the product. If the dynamics are positive, the store works efficiently, but if it is negative or zero, we must look for the reasons for the decline. Cash receipt may be reduced in total, for example, during the sales period. Particular attention should be paid to products that generate the greatest income, to monitor the behavior of competitors regarding these products and to analyze their dynamics in their store.
Identification of problems by the average check in the store and how to solve them
On average, a check does not exceed 4-5 products. The share of checks with purchases from 1 to 3 is gradually approaching 50% of total sales. The increase in turnover was less than the inflation rate or in the case when the increase in turnover was observed when new stores were opened. Buyers are in the trading floor for a short time, and some departments do not visit at all.
It is necessary to analyze the location of both the store itself and the departments, product layout, sales dynamics during the day. To analyze the structure of the range, prices, turnover. The ABC is carried out - sales analysis, during which the assortment is examined, the most popular positions, products that are stale, and one that is the most profitable are identified. Evaluate the need for changes in the layout of the store, if necessary, create routes along the trading floor by installing shelftalkers and hang signs with signs for ease of orientation in the store. Create or modify a planogram and, of course, prepare special offers for your customers.
How to increase the average bill
1. Increase in trade margins. If you have a unique offer and no direct competitors, this will be the easiest and fastest solution. However, a very small number of companies boasts such an advantage. For most products, there are analogues. Therefore, with an increase in the retail price, you will have to increase the level of service and improve the service. And this is an additional cost.
2. Range optimization. The category manager, together with the merchandisers, can review the assortment structure, principles of the procurement policy and merchandising. The occupation is difficult, painstaking, time-consuming.
Tactical ways to increase the average bill
1. Using the principle of complementarity. Many items require the presence of complementary goods. This principle can be taken as a basis when laying out goods. Thus, when purchasing one product, the buyer will pay attention to the second, supplementing the first, it is likely that he will acquire it, which, in turn, will increase the average check in the store.
2. Harmonization. Use ready-made solutions, demonstrate to customers what products and how can be combined with each other. For example, in the case of clothes on a mannequin, the buyer has a desire to buy the whole image, rather than individual things. In this case, the average cash register check will increase.
3. To offer for “surrender” goods of impulse demand located in the checkout area. Evaluate if your store has a small inexpensive item in the calculation node that the buyer takes automatically when approaching the checkout. You can also duplicate the layout of a small, but popular product in the center of the hall, in addition to its location at the checkout.
4. The presence of gift certificates or discount cards. Close contact with corporate customers allows you to increase sales on pre-holiday days, as well as attract new customers.
5. Establishment of a terminal for non-cash payment. Buyers paying with a credit card spend more than when paying in cash, therefore, the average check will increase.
6. Focus buyers on more expensive products. Sellers should shift the attention of buyers from a cheap product to a more expensive one gradually. Workers in the sales area should be interested in selling more expensive goods. Perhaps you should introduce financial incentives for employees when selling a certain amount of expensive goods per month.
7. Inclusion in the assortment of inexpensive goods with a large margin. It’s easy to offer cheap goods; it’s not difficult for sellers to sell them; they do not need to be further stimulated. Inexpensive goods will attract buyers to the store who will buy more cheap goods than originally planned.
Incentive promotions as a means of increasing a cash receipt
Special offers are another way to increase your average bill. Carrying out the shares “Gift for the purchase”, “When buying 2 positions, the 3rd is free”, discounts at certain times of the day, sales. Such promotions help establish a trusting contact between the store and the customer and leave a good impression on the buyer. Also, when conducting promotional campaigns, the conversion increases, that is, the number of people leaving the store with a purchase is growing. An additional opportunity to get customer contact information, which in the future can be used to disseminate information about promotions held by the store.
Result
As a result, the trade will increase the turnover due to the increase in the number of purchases in the cash receipt. There will be a decrease in the share of small checks and an increase in the proportion of medium ones, which indicates the effectiveness of both merchandising and staff work. In addition, the number of impulse purchases will increase if the assortment and product display are optimized. And at the heart of positive dynamics is the average check!