Retail Math 101
Introduction
Retail math refers to a set of formulas used by retail businesses in their day-to-day operations, to calculate certain retail KPIs and metrics that measure the performance of the business.
What Goes Under Retail Math
Retail math includes formulas related to the following areas of retail:
- Sales Metrics
- Inventory Metrics
- Financial Metrics
- Pricing Formulas
What matters more than the basic formulas, however, is the key connections between the different metrics, and how they can be used together to give a better picture about the performance of the business and equip the manager with the right insights to make business decisions.
Importance of Retail Math for Managers & Owners
It is very important for store owners, retail business managers, and anyone starting a retail business to understand and practice using the different retail math formulas on a regular basis, in order to be able to make the right decisions for the business.
We explain all the formulas and metrics, as well as the applications of those metrics and how they connect with each other in this retail math course.
We then take this further and apply it into the different areas of running the retail business in each respective course for each function. And, finally, we use those metrics to drill down and assess the different areas of the business in the Retail Business Performance Analysis course.
Below are different resources that will get you started with retail math.
RESOURCES
Learn
Take the online retail math fundamentals course.
Video lectures, quizzes, case study & certificate of completion
Download
Download the retail math formulas cheat sheet & excel calculators.
Templates, printables, forms,..& more
Test
Test your retail math knowledge with this free online quiz
Online test with answers