December 2017
Intermediate to advanced
390 pages
7h 51m
English
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Chapter 78 Average Transaction Size
Measurement Need
Retail management wants to measure the average value of each transaction.
Solutioni
This measures the average financial value, in dollars (or whichever currency being used), of each transaction/sale:
Where
Ta = average transaction size
St = total dollar value of sales in time t
Tt = total number of transactions in time t
Let’s assume a retail store generates $1 million in sales annually, and the total number of transactions is 50,000. Then the average transaction size is $20 per transaction:
Impact
Average transaction size is an important metric because it can help retailers measure their success in making ...
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