Wtn teajectory top tearetailtrends_surveyonly
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Ongoing survey of tea retailers in North America. Survey consists of three questions, results are interactive and are displayed in the presentation (provided the presentation is in slideshow mode and connected to the internet). Survey is seeking responses from 250 owners of tea foodservice, packaged goods retailers selling tea and tea merchants. Results will be published in World Tea News in September 2011. Dan Bolton, Editor/Publisher dan.bolton@worldteanews.com
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Wtn teajectory top tearetailtrends_surveyonly
- 1. Top Tea Retail Trends Survey Core Conference Seminars June 24, 2011 Dan Bolton Editor/Publisher World Tea news
- 2. Cell Phone Survey Poll Everywhere is a simple text message voting application for live audiences. Vote by texting CODES (or Tweet ) in answer to questions on-screen. Poll results within the presentation will update in real time. Try it now. Text a CODE to 22333 | Tweet @poll and a CODE | Submit CODE to http://poll4.com World Tea Expo is: Code 32563 Really cool! 54% Code 32595 Really hot! 46%
- 3. How To Vote via Texting. Use 22333 and put CODE in message. EXAMPLE 32595 32563 22333 32563 or 32595 Standard texting rates only (worst case US $0.20) We have no access to your phone number Enter CODE in message line (not subject line) TIPS
- 4. How To Vote via www.Poll4.com EXAMPLE 32595 32563 32563 Enter 5-digit CODE in window, click submit. 32563COOLor 32595 HOT TIP
- 5. How To Vote via Twitter EXAMPLE 32595 32563 @poll 32563 or 32595 CODE immediately follows @poll (one space between) Since @poll is the first word, your followers will not receive this tweet TIPS
- 6. Select Your Business CODE CODE (50 Show Responses as of June 26) 79706 |Tea Room/House 23% 79860 |Specialty Retailer 27% 79861 |Hospitality/Restaurant 0% 79867 |Mass Merchant 0% 79871 |Spa/Wellness Center 2% 79874 |Coffee House 10% 79882 |Web-based Store 19% 79897 |Supplier 4% 79898 |Distributor 6% 79919 |Manufacturer 8%
- 7. Responses appear in this frame in real time. 79706 |Tea Room / Tea House 79860 |Merchant Specialty Retail 79861 |Hospitality / Restaurant 79867 |Mass Merchant 79871 |Spa / Wellness Center 79874 |Coffee House 79882 |Web-only Tea Store 79897 |Supplier 79898 |Distributor 79919 |Manufacturer CODE
- 8. What is your average daily ticket amount? There is no universal formula to achieve retail riches. Success demands brilliant execution of a million details from scheduling staff to social media marketing. The first step is to consistently deliver great tasting tea. A retailer’s next priority should be stocking, pricing and displaying offerings selected to establish a transaction average that will return gross margins of 50+ percent. A common ticket average for tea retailers is between $20 and $25. The simple exercise that follows will invariably help boost sales.
- 9. Responses appear in this frame in real time. 129298 | < $4 129302 |$5 - $9 129304 |$10 -14 129305 |$15 - 19 129308|$20 - 24 129309|$25 - 29 129319|$30 - 34 129322|$35 - 39 129323|$40 - 44 129333|$45 - 49 129334|$50 - 54 129335|$55 - 59 129339|$60 - 64 129345|$65 - 69 129349|$70 - 74 129350|$75 - 79 129351|$80 - 84 129356|$85 - 89 129360|$90 - 94 129365|$95 - 99 CODE
- 10. Average Ticket (50 Show Responses as of June 26) Code 129302 < $4 Code 129304 $5 - $9 4% Code 129305 $10 - $14 1 Code 129308 $15 - $19 Code 129309 $20 - $24 Code 129319 $25 - $29 Code 129322 $30 - $34 4% Code 129323 $35 - $39 4% Code 129333 $40 - $44 3% Code 129334 $45 - $49 4% Code 129335 $50 - $54 2% 8% 26% 20% 16% 10%
- 11. How many sales do you transact daily? Now let’s look at the impact of traffic on your top line. Frequency matters. Every customer returning monthly brings you $300. That same customer visiting weekly brings in $1,300 annually. You can gross a million on $25 transactions but it requiress150 customers a day, or 15 transactions per hour. Teavana averages a $36 sale for every visiting customer. If you can increase your store’s ticket average to $45 the traffic count falls to a reasonable 70 customers per day. A high transaction average enables the American Tea Room to earn $1 million while serving only 35 customers a day.
- 12. Responses appear in this frame in real time. CODES 129767 | < 20 129768 | 20-39 129773 | 40-59 129790 | 60-79 129803 | 80-99 129807 | 100-119 129812 | 120-139 129815 | 140-159 129816 | 160-179 129840 | 180-199 129841 | 200-219 130809 | 220-239 130811 | 240-259 130812 | 260-279 130813 | 280-299 130816 | 300-319 231840 | 320-339 231841 | 340-349 231842 | 360-379 231850 | 380-399 231851 | 400-219 231853 | 420-439 231856 | 440-479 231857 | 460-499 231858 | 480-499 231859| 500-519 231861 | 520-539 231862 | 540-559 231862 | 560-579 231863 | 580-599 231886| > 600 232800| > 700 232802| > 800
- 13. Average Daily Transactions (May 2011) (50 Show Responses as of June 26) CODE 129767 <20 CODE 129768 20 - 39 CODE 129773 40 - 59 CODE 129790 60 - 79 CODE 129803 80 - 99 CODE 129807 100 - 119 CODE 129812 120 - 139 CODE 129815 140 - 159 CODE 129816 160 - 179 CODE 129840 180 - 199 CODE 129841 >200 45% 19% 12% 0 % 10% 0% 2% 0% 0% 0% 2%
- 14. Quarterly Retail Reports The information you just offered is extremely valuable. A good case can be made for the tea industry to initiate a Quarterly Retail Tracking to establish benchmarks. Anonymous third-party surveys conducted by phone (instead of internet or panel interviews) allow clarification and better control. This proven, unbiased method insures accurate data and the best representation of current market conditions. Projections are based on in-store traffic, online orders and average ticket sales. Core survey questions establish pricing benchmarks, cost of goods averages and labor. Several questions can be used to explore developing trends with an eye for opportunities.
- 15. Join us for the next trends update at World Tea East in Philadelphia at the Pennsylvania Convention Center Sept. 9-10. Visit www.worldteaeast.com to learn more. Subscribe to www.worldteanews.com to learn about these trends in greater detail. This report is an annual collaboration. If you would like to share your observations about tea trends that impact retail sales please contact me. Dan Bolton Editor/Publisher (204) 788-1359 dan.bolton@worldteanews.com This Power Point is the intellectual property of the presenter and copyrighted by World Tea East. Permission to print or disseminate all or part of this presentation is granted provided that the copies are not made or distributed for commercial advantage and that the title and authors of the presentation appear on the printouts. To copy or disseminate otherwise, or to republish in any form, requires written permission from the authors and World Tea East.
Editor's Notes
- Title page: Core Conference Seminars
- Explain what’s going on“Now I’m going to ask for your opinion. You’ll use your phones to respond just like on American Idol. So please take out your cell phones, but remember to leave them on silent.”“You’ll participate by sending a text message. If you don’t know how to do that, just ask your kids! Or have your neighbor help you figure it out.”Address their concerns“This is a just standard rate text message, so it may be free for you, or up to twenty cents on some carriers if you do not have a text messaging plan.”“The service we are using is serious about privacy. We cannot see your phone numbers, and you’ll never receive follow-up text messages outside this presentation. There’s only one thing worse than email spam – and that’s text message spam because you have to pay to receive it!”Use a demo or practice pollFor example, a Free Text Poll like “Let’s Practice: Text in your first name!”Always test your polls in your presentation before your event using the computer that will be projecting your presentation, especially if that computer is not the one you’re currently using.
- This slide is for display to the audience to show them how they will vote on your polls in your presentation. You can remove this slide if you like or if the audience is already comfortable with texting and/or voting with Poll Everywhere.Sample Oral Instructions:Ladies and gentlemen, throughout today’s meeting we’re going to engage in some audience polling to find out what you’re thinking, what you’re up to and what you know. Now I’m going to ask for your opinion. We’re going to use your phones to do some audience voting just like on American Idol.So please take out your cell phones, but remember to leave them on silent. You can participate by sending a text message.This is a just standard rate text message, so it may be free for you, or up to twenty cents on some carriers if you do not have a text messaging plan. The service we are using is serious about privacy. I cannot see your phone numbers, and you’ll never receive follow-up text messages outside this presentation. There’s only one thing worse than email spam – and that’s text message spam because you have to pay to receive it!
- This slide is for display to the audience to show them how they will vote on your polls in your presentation. You can remove this slide if you like or if the audience is already comfortable with texting and/or voting with Poll Everywhere.Sample Oral Instructions:Ladies and gentlemen, throughout today’s meeting we’re going to engage in some audience polling to find out what you’re thinking, what you’re up to and what you know. Now I’m going to ask for your opinion. We’re going to use your phones or laptops to do some audience voting just like on American Idol.So please take out your mobilephones or laptops, but remember to leave them on silent. You can participate by submitting an answer atPoll4.com on your laptop or a mobile phone.The service we are using is serious about privacy. I cannot see who you are or who voted.
- This slide is for display to the audience to show them how they will vote on your polls in your presentation. You can remove this slide if you like or if the audience is already comfortable with texting and/or voting with Poll Everywhere.Sample Oral Instructions:Ladies and gentlemen, throughout today’s meeting we’re going to engage in some audience polling to find out what you’re thinking, what you’re up to and what you know. Now I’m going to ask for your opinion. We’re going to use Twitter to do some audience voting.So please take out your cell phones or laptops, but remember to leave them on silent. The way you will be able to participate is by tweeting a response to @poll. Your followers won’t be bothered by this message.
- Introduce idea of Teajectory reports
- Next, let’s determine this group’s average traffic count.
- Backup slide: Average ticket for a retail tea store should be between $20 and $25. Teavana averages $36.
- How many sales to you transact daily (use your average transactions during the month of May 2011)
- Introduce idea of Teajectory reports
- Introduce idea of Teajectory reports. George, check wording to make sure commitment is clear.