June Retail Metrics: This June, the furniture industry saw a 44% increase in prospects gathered, while the mattress industry experienced a 19% boost in 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
- June Retail Metrics: Everything you need to know about how last month played out.
2023 Forecast: US retail sales expected to grow 2.9% this year. Q2 2023 Benchmark Report: Download the report HERE.
June 2023: Furniture industry
Conversion Rate
39.81%
+3.83%
This June, conversion rate in the furniture industry increased 4% compared to June 2022. In contrast to the yearly increase, conversion rate decreased 4% compared to the previous month.
In June, the average ticket increased 8% compared to the same month last year. unlike the yearly increase, when compared to May 2023, the average ticket decreased by 2.2%
Average Ticket
$2468
+7.76%
Daily Revenue
$12,634
-10.16%
Daily revenue in June showed a 10% decrease compared to June 2022. Similar to the year-over-year decrease, the daily revenue in June saw a 19% decrease when compared to May 2023.
The furniture industry saw foot traffic reduce by 20% compared to the same time last year, and saw an additional 16% decrease compared to May 2023.
Daily Opportunities
13
-19.25%
Time with Customers
42
+1.65%
Salespeople spent an average of 1 minute more with each customer in May compared to 2022, yet spent the same amount of time as they did in May 2023
Prospects refer to the contacts collected with the aim of making future sales. Compared to last June, salespeople gathered 44% more prospects.
Prospects
49
+44.31%
June 2023: Mattress industry
Conversion Rate
70.88%
-1.27%
This June, conversion rate in the mattress industry saw a slight decrease of 1% compared to June 2022. Similarly, conversion rate decreased by 4% compared to May 2023.
Average ticket for the mattress industry was $2,093, up 19% compared to the same time last year. When compared to May 2023, average ticket increased by 4% in June.
Average Ticket
$2,093
+18.89%
Daily Revenue
$2,927
+15.72%
Despite a decrease in conversion rate, daily revenue increased by 16% compared to June of the previous year. Daily revenue in June 2023 was 7% higher than May 2023.
Similar to the furniture industry, foot traffic was down with a 11% decrease in June when compared to the same time last year, but increased 5% compared to the previous month.
Daily Opportunities
2
-10.45%
Time with Customers
47
+12.36%
Salespeople spent an average of 5 minutes more with each customer in June compared to 2022, and spent 2 minutes more than they did in May 2023.
Prospects are contacts gathered in hopes to make a future sale. Compared to June 2022, salespeople gathered 20% fewer prospects.
Prospects
1
-17.79%
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