December Retail Metrics: While the furniture industry was busy collecting prospects for future sales this December, the mattress industry saw how more time spent with customers resulted in a 15% increase to average ticket.
This week we will take a closer look at what drove these improvements in the industry and what they could mean for the future.
Today's Rundown
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- December recap: Everything you need to know about how last month played out.
- Retail industry predictions: How to navigate the AI revolution.
December 2023: Furniture industry
Conversion Rate
40.11%
+0.55%
In December, the conversion rate within the furniture industry saw a noteworthy uptick of 1% in comparison to December 2022. Unlike to the yearly increase, conversion rate decreased 3% compared to the previous month.
The furniture industry saw the average ticket in December drop by 4% compared to December 2022. In comparison to November 2023, average ticket decreased by 1%.
Average Ticket
$2,335
-4.16%
Daily Revenue
$13,677
-4.96%
Daily revenue in December showed a 5% decrease compared to December 2022. Consistent with the year-over-year decrease, the daily revenue for December experienced an 18% drop compared to the figures from November 2023.
The furniture industry concluded the year with 4% less foot traffic compared to the same period last year and saw 14% fewer customers than in November 2023.
Daily Opportunities
15
-3.51%
Time with Customers
39
-14.01%
Salespeople, on average, dedicated 6 minutes less to each customer in December compared to 2022, and spent 2 minutes less than they did in November 2023.
Prospects are contacts gathered to generate future sales. In contrast to the previous December, salespeople accumulated 35% fewer prospects.
Prospects
64
+35.52%
December 2023: Mattress industry
Conversion Rate
64.48%
-11.17%
Compared to December 2022, the mattress industry witnessed an 11% decrease in conversion rate. In contrast, there was a 3% increase compared to November 2023.
In December, the average ticket amounted to $2,016, signaling a robust 15% growth from the same period in 2022. When we compare to November 2023, the average ticket experienced a 11% decrease.
Average Ticket
$2,016
+14.76%
Daily Revenue
$2,078
+32.70%
Daily revenue saw an impressive 33% increase compared to December of the previous year. Additionally, daily revenue in December 2023 was 5% higher than November 2023.
Unlike the furniture industry, foot traffic was up with a 3% increase in December when compared to the same time last year. In contrast, foot traffic decreased 17% compared to the previous month.
Daily Opportunities
2
+2.65%
Time with Customers
51
+36.71%
Salespeople spent an average of 13 minutes more with each customer in December compared to 2022, and spent 5 minutes more than they did in December 2023.
Prospects are contacts gathered in hopes of making a future sale. Compared to December 2022, salespeople gathered 200% more prospects.
Prospects
2
+200%
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