Promotions
During both Retail and Outlet visits, you will also be collecting details on any sales (or promotions) that are going on. Often the sales are very easy to identify, but if you have questions, please look at any signage and price tags to help you. Sales associates are also a valuable source of information during sales, they want to get you to buy something, so they are glad to help!
For each Handbag Collection and Women’s Shoes, you will record:
- Starting price
- New Price or % Discount
- Style count (how many styles of that collection are on promotion?)
It’s important to collect all these details for each item on promotion.
Percentage of Styles on Promotion
For each Collection that is on promotion and for Shoes as a whole, you will report a % of styles on promotion and a % of styles off promotion. =
This is a very easy mathematical calculation. You take the total number of styles on promotion for a given category and divide it by the total number of styles available for that particular category.
Examples:
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There are a total of 15 styles in the Willow handbag collection and 5 of those styles are on promotion. % of styles on promotion = 5/15 = 33% on promotion and 77% off promotion
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There are 10 styles of Shoes on promotion and 31 total styles on display in the store = 10/31 = 32% of styles on promotion and 68% off promotion
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There are 20 total styles of Wills handbags, and the entire category is on promotion = 100% of styles on promotion and 0% of styles off promotion
Storewide Sales
Often Outlet stores will have Storewide sales, meaning the entire store is eligible for the same discount rate. It is, however, important to note that for it to be recorded as a Storewide sale, the majority of inventory in the store needs to be eligible for the same discount. Unfortunately, if there is just a lot of stuff on Clearance, it’s probably not a storewide sale and data would need to be collected as Clearance.
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