Industry Comparison - Where Do You Rank?

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Industry Comparison - Where Do You Rank?

  1. 1. Where do you rank? Presented By: Stacy Hamer Retail Management
  2. 2. Topic #1 – The Quick Sale….
  3. 3. Let’s take a walk down Memory Lane…
  4. 4. Last yearTotal Quick Sales 570,455 = $21,598,945Quick Sales On Phone 198,895 = $11,074,499
  5. 5. Do you think those#’s went up or down?
  6. 6. Total Quick Sales 30%Quick SalesOn Phone 42%
  7. 7. Specifically that was….397,741 total Quick Sales$14,058,772.17 in Sales
  8. 8. And how many were linked to phones? 114,896 $6,272,188.02 in Sales
  9. 9. I guarantee this # will geteven lower by next year…
  10. 10. And theGold Stargoes to….
  11. 11. 4 Quick Sales and ZEROwere attached to phones! Mid-America Cellular 15 AT&T Locations “We’re just simply amazing” Gary Wilbers, CEO
  12. 12. Topic #2 Inventory Shrinkage & Non- Sellable
  13. 13. Sources of Inventory Shrinkage *Data from University of Florida National Retail Security Survey Report
  14. 14. Sad but true…. Employee theft is responsible for 1 out of every 3 business failures in the USA *Statistics from Michael G Kessler & Associates issue of employee theft in the work place
  15. 15. Sad but true…. 66% of employees will steal if they see others doing so with no consequences *Statistics from Michael G Kessler & Associates issue of employee theft in the work place
  16. 16. Sad but true…. Employee theft was worth $120 BILLION dollars last year *Statistics from Michael G Kessler & Associates issue of employee theft in the work place
  17. 17. In fact….For every $1 lost to employee theft… It will take $20 of sales to recover it…
  18. 18. Last year, on average you wrote off$1029/location every month….
  19. 19. How much are you writing off now? Count 1-3 Count 1-3/ times/mth week $583.63 $361.47 Count less Count 1+/day Average than 1/mth $1,033.67 $751.29 $337.94 /location /mth
  20. 20. Report on why
  21. 21. Non-sellable 101
  22. 22. SellableNon-Sellable
  23. 23. If you don’t use Non- Sellable…
  24. 24. SellableNon-Sellable
  25. 25. 60%of you use it!!!!!!
  26. 26. Non-sellable…..how can it reduce theft and write off? Include non-sellable inventory on count sheets.•  Of the 60% of you using Non-Sellable….•  65% of you don’t count that inventory•  That means overall, 85% of customers don’t use this feature…
  27. 27. Let’s break downexactly how you’re using this…
  28. 28. Use Non- Sellable Status Using, but not counting!! 85% 40% 60% Don’t use 15% CountingNon-Sellable Non-Sellable at all…
  29. 29. SellableNon-Sellable
  30. 30. Moral of the story….. Count your non-sellable inventory!!!
  31. 31. And theGold Stargoes to….
  32. 32. Writes off only Select Communications$152/month 46 Verizon Nationwide“We hold each store accountable for inventory countsof handsets as a part of the daily store routine. Counts are reviewed by Regional and District Managers, and any discrepancies are followed up on immediately. Inaddition, we review inventory levels and aged handsets on a weekly basis to make sure we move through any potentially slow-moving inventory” Bob Adams, CFO
  33. 33. Topic #3 Inventory Compatibility
  34. 34. The 87% of you who don’t use this featureThe 13% of youwho do use this feature
  35. 35. In case you’re interested….On average, all RQ4 clients GP/accessory is $11.41 For Summit Attendees it is $14.59
  36. 36. Have more than 25%compatibility setup? $2.91 GP
  37. 37. Have more than 85%compatibility setup? $5.01 GP
  38. 38. Who knows who Michael Vick is?
  39. 39. How much do you think we wouldhave to increase our GP/Accessory buy to sign him for a year? $2.91
  40. 40. That’s a pretty big deal consideringthis year Summit Attendees Sold… You sold….7,648,943 accessories If we all increased our GP by $2.19…. That would be an extra $16,751,185.17
  41. 41. And if we had increased it by $5.01…. $38Million
  42. 42. And as a stretch goal…If we all increased our GP by $5.01….That would be an extra $38,321,204.43
  43. 43. You’re missing out on this…
  44. 44. Setup is easy!
  45. 45. Monitor Product Summary
  46. 46. And theGold Stargoes to….
  47. 47. Average GP per accessory is$19.32 with 92% of their phones The Fone Zone with compatibility setup 6 Sprint Locations in Huntly, IL “Offering 4 to the floor (Charger, Case, Battery & Headset), incenting our staff correctly & having accessory contests. Profit on accessories is hugely important!
  48. 48. Topics #4 Customer Loyalty
  49. 49. " Make customers obsessed with you "   Show your personality, customers need the experience to be memorable if you want them to return. "   Why send an email from a donotreply@company.com? Encourage them to email you. Build this into your sales flow. "   Anticipate Customer wishes. Show you care. The cared-for feeling a customer gets when their wishes are anticipated is where you can generate fierce loyalty.
  50. 50. " You are collecting on average 13.74% of new customer email addresses
  51. 51. Collective Customer Base New Customers Repeat 42% Customers 58%
  52. 52. Topic #5 – Cash Management
  53. 53. This year as a group, you put through $261.30 Million of cash through RQ4
  54. 54. New Cashout Security
  55. 55. 85% of SummitAttendees do not use Blind Cashouts….
  56. 56. Should I use blind cashouts too? Their cashout discrepancies/ 55%reconciliation arehow much lower? Lower
  57. 57. Topic #5 – Overall Gross Profit
  58. 58. " We’ve looked at all these things individually" What does the accumulation of all of these come down to?" $$" If you don’t care about the little things you cant get to big $$
  59. 59. This year Summit Attendee Gross Profit is… $838,809,320.64
  60. 60. In the last year RQ4 clients median GP was…$190,356.20 gp/location in USA$298,589.86 gp/location in Canada
  61. 61. And the biggest, wildest, craziest, best, most awesome Gold Star goes to….
  62. 62. GP per Location of $642,767.18 Cellular & More – Novi, MI 5 Verizon Locations ““Cellular & More has defined a structure that holds ourstaff accountable to achieve the company’s goals (KPI’s) at the same time providing our staff with an opportunity to create their own income level.  We become partner withthe staff by sharing a % of all gross profit on every sale andshowing them every opportunity the company has to earn money. We empower our staff to have total control of their sales while maintaining the company’s values.” - Dean Leja , VP
  63. 63. iQmetrix.com | 1.866.iQmetrix © 2011 iQmetrix. All right reserved. iQmetrix, the iQmetrix logo, RQ4 and other trademarks, service marks, anddesigns referenced in this material are the exclusive property of iQmetrix Software Development Corp. and/or its subsidiaries.

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