Daily Sales Diagnostic Questions
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The document outlines questions a merchant can ask when analyzing daily sales reports to better understand sales trends, predict the future, and make adjustments to maximize performance. When sales are on track, the merchant asks what is driving the trend and how it can be maximized. When sales are off track, they ask what is causing the decline and what can be adjusted to mitigate risks. Additional questions cover e-commerce sales, mid-month evaluations, conversations with suppliers, and inventory availability. The daily sales report is a key tool that allows merchants to decode data and anticipate consumer behavior and resource needs.
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Daily Sales Diagnostic Questions
- 1. Daily Sales: Diagnostic Questions J O A N B R A AT Z V I C E P R E S I D E N T M E R C H A N D I S I N G
- 2. The Daily Sales Report A MERCHANT USES THE DAILY SALES REPORT TO PREDICT THE FUTURE BY ASKING CRITICAL QUESTIONS
- 4. When Sales are on Track What Category/brand is contributing to trend? What channel is driving the trend? Stores? Ecommerce? Is there enough stock? In warehouse? In store? Is there adequate on order? Is the trend driven by a temporary price reduction / promo? Is this a shift in consumer behavior? How can the trend be maximized? •Extend a promotion? •Re-allocate resources? •Prolong off shelf display?
- 5. When Sales are Off Track What category/brand is causing decline? Is there adequate stock? Was shipment late? Did the order short ship? Should future on order be cancelled? Is this a shift in consumer behavior? What can be adjusted to mitigate risk? • Price adjustment? • Feature in marketing? • Boost on-line? • Off shelf merchandising?
- 6. E-commerce Only Is there adequate inventory? Could ship from store improve fill rate? Is the shipping rate limiting conversion? Is in-store pick up / curbside available? Is the product priced competitively? Is there a system error? Did PP fall off site?
- 7. Mid- Month Evaluation Was there an isolated incident that caused the trend? Is there an upcoming event that represents high percentage of plan for month? Can you leverage upcoming promo to bridge the gap? What action can be taken on inventory? Is there a contingency plan that should be triggered?
- 8. Ask Suppliers What are you hearing about competition? Has the competitive strategy changed? Is there category/product driving result? Is there promotional event driving result? Is our business better/worse/same as competitor?
- 9. Inventory Availability Are the best sellers being replenished? Did the order ship complete? When can the balance ship? What’s the in-warehouse and in-store date? Can the order be expedited? Air ship? Is there supply chain disruption? Is there production delays at supplier? Was another account prioritized for fulfillment?
- 10. There is no greater tool at a merchant’s fingertips than the Daily Sales Report. Decoding the data unlocks a merchant’s ability to predict consumer behavior, anticipate resource needs and drive operational efficiencies. Daily Sales Report _______ Summary
- 11. Thank You Reach Me Joan Braatz Vice President Merchandising Retail | B2C | B2B braatzjoan@gmail.com 214-733-9677 https://www.linkedin.com/in/joanbraatz/ https://joanbraatz.com/