Table of Contents
Table of Contents
In the retail world, data is a guiding light. A retail daily sales report template illuminates your business decisions, offering insights into performance, customer behaviors, and potential areas of growth.
What is a retail daily sales report?
A retail daily sales report is a snapshot of a store’s performance for a given day. This tool captures sales figures, customer behaviors, and other relevant metrics to provide a clear overview of daily operations.
Why do you need a daily sales report for your store?
A daily sales report isn’t just numbers on a paper; it’s the pulse of your retail business. Here’s why it’s invaluable:
- Insightful data: Understand your top-selling products and those that lag.
- Performance overview: Gauge daily operations against historical data or set benchmarks.
- Strategic planning: Make informed decisions on staffing, inventory, and marketing.
- Detect anomalies: Identify potential fraud or areas that need attention swiftly.
- Boost efficiency: Pinpoint areas of improvement to streamline operations.
How should you create your daily sales report?
Harnessing the power of technology makes this task seamless. Integrate Solink with your POS data without a text inserter, and voila! A comprehensive dashboard visualizes all your sales data automatically.
The best part? Solink’s Daily Digest emails can land in your inbox every morning, tailored to show daily, regional, or company-wide reports for decision-makers at every level.
20 KPIs to add to your retail daily sales report template
To craft a robust daily sales report, consider these essential KPIs:
- Total daily sales (TDS)
- Average transaction value (ATV)
- Units per transaction (UPT)
- Sales by department (SBD)
- Sales by hour of day (SHD)
- Gross profit margin (GPM)
- Customer conversion rate (CCR)
- Customer traffic count (CTC)
- Sales per square foot (SPSF)
- Inventory turnover rate (ITR)
- Return on sales (ROS)
- Return rate (RR)
- Number of sales reducing transactions (SRTs)
- Percentage of sales from new customers (PSNC)
- Percentage of sales from promotions or discounts (PSPD)
- Sales growth rate (SGR)
- Sales by payment type (SBPT)
- Daily customer growth (DCG)
- Sales to stock ratio (SSR)
- Percentage of loyalty program sign-ups (PLPS)
Total daily sales (TDS)
Equation: Total revenue for the day
Grasping the day’s total sales offers a preliminary insight into how well the store performed. It helps store managers quickly identify particularly good or bad sales days and adjust strategies or investigate anomalies accordingly.
Units per transaction (UPT)
Equation: Total items sold / number of transactions
UPT provides insights into shopping behaviors. A higher UPT means customers are buying more items every time they shop.
Sales by department (SBD)
Equation: Total sales in a department / total store sales
Identifying which department contributes most to the store’s revenue allows managers to allocate resources efficiently.
Sales by hour of day (SHD)
Equation: Total sales in an hour / total daily sales
SHD helps in identifying rush hours and lull periods, essential for staffing and marketing decisions.
Gross profit margin (GPM)
Equation: (Total sales – cost of goods sold) / total sales
Understanding GPM gives insights into how much profit you make after accounting for the cost of goods. A lower GPM might indicate rising costs or lowered selling prices.
Customer conversion rate (CCR)
Equation: Number of sales / number of visitors
CCR provides insights into how effective your store is at converting visitors into paying customers. A declining CCR may suggest issues with in-store layouts, staff interactions, or product placements. Solink’s heatmaps help managers visually assess customer journeys and tweak store experiences.
Customer traffic count (CTC)
Equation: Total number of customers entering the store
Monitoring CTC helps gauge store popularity and assess the effectiveness of marketing campaigns. Solink’s video capabilities can be used to measure footfalls, ensuring accuracy in data.
Sales per square foot (SPSF)
Equation: Total sales / store area in square feet
SPSF helps in evaluating the efficiency of store space usage. It’s essential for optimizing product displays and layouts.
Inventory turnover rate (ITR)
Equation: Cost of goods sold / Average inventory value
A high ITR signifies that products sell quickly, indicating good inventory management. Understanding inventory shrinkage and the inventory turnover rate can help prevent product shortages.
Return on sales (ROS)
Equation: Net income / sales
ROS indicates the operational efficiency of the store. It tells how much profit is generated from sales. Delving into individual high-risk transactions with Solink, it’s possible to differentiate between legitimate returns and POS employee theft.
Return rate (RR)
Equation: Number of returned items / total items sold
A high RR might signify issues with product quality or customer satisfaction.
Number of sales reducing transactions (SRTs)
Equation: Total number of transactions reducing original sale amount
SRTs can be red flags, indicating potential fraudulent activities or errors. With Solink, each SRT can be paired with video, ensuring transparency and reducing chances of fraud.
Percentage of sales from new customers (PSNC)
Equation: Sales from new customers / total sales
Monitoring PSNC helps in evaluating marketing efforts targeting new customers.
Percentage of sales from promotions or discounts (PSPD)
Equation: Sales from promotions or discounts / total sales
PSPD helps gauge the effectiveness of promotions. A higher PSPD might indicate successful promotional campaigns. Solink can help you track employees by their average discounts to uncover discount abuse.
Sales growth rate (SGR)
Equation: (Current period sales – previous period sales) / previous period sales
SGR indicates business trajectory. Monitoring this helps in future planning and understanding market dynamics.
Sales by payment type (SBPT)
Equation: Number of sales for each payment type / total sales
SBPT offers insights into customer payment preferences.
Daily customer growth (DCG)
Equation: (Current day’s total customers – previous day’s total customers) / previous day’s total customers
Monitoring DCG gives insights into store popularity and growth trends.
Sales to stock ratio (SSR)
Equation: Total sales / total stock value
SSR provides insights into how well stock levels match sales demands. A balanced SSR indicates optimal inventory management, reducing operational shrink.
Percentage of loyalty program sign-ups (PLPS)
Equation: Number of loyalty sign-ups / total transactions
PLPS provides insights into the success of loyalty programs. A rising PLPS indicates satisfied repeat customers.
Sales by department (SBD)
Equation: Total sales in a department / total store sales
Identifying which department contributes most to the store’s revenue allows managers to allocate resources efficiently.
Sales by hour of day (SHD)
Equation: Total sales in an hour / Total daily sales
SHD helps in identifying rush hours and lull periods, essential for staffing and marketing decisions.
Sales growth rate (SGR)
Equation: (Sales for the current period – sales for the previous period) / sales for the previous period
A positive SGR indicates business growth, whereas a negative rate might signal potential issues.
Sales to stock ratio (SSR)
Equation: Total sales / Average stock held
This ratio helps stores manage inventory better, ensuring stock levels match demand.
Percentage of loyalty program sign-ups (PLPS)
Equation: Number of loyalty program sign-ups / Total transactions
Encouraging customer loyalty boosts repeat business. A higher PLPS means more customers are interested in returning.
Solink delivers a retail sales report to your inbox every morning
The power of Solink lies not just in its data aggregation but also in its presentation and integration. With features like the Daily Digest email, you get a concise, easy-to-understand report every morning. The Dashboard offers Widgets tailored for each KPI, giving you the freedom to view data at the store, regional, or company-wide level. And the cherry on top? Every piece of POS data pairs with video on Solink. So, if you ever need to dig deep into sales reducing transactions or any anomaly, you can do so with full confidence, ruling out fraud or errors.
