Year-over-year profit Your retail profit report will consider factors such as expenses (salaries, purchases), overheads (rent, bills), and taxes. Completing this report gives you an idea of the revenue you have available to invest in your business in 2021, whether that’s by introducing subscription billing, offering appointment shopping, or strengthening
Remember that your profit and your sales are Year-over-year profit different numbers. Your sales are your overall totals—your sales reports will tell you how much revenue you earned without any reserves or allowances. On the other hand, your profit is what you take home at the end of the day. It’s essential to make this distinction because your profit is the business owner data amount you have left over after paying your expenses.
Remember to vary this ratio to get a complete picture. You may want to adjust your purchasing plans based on the actual profits a brand can generate. If a brand or category’s sales are low, but the relative profit percentage on those sales is very high, you might consider promoting the products to expand their potential reach.
How to complete this report: Year-over-year profit
- Open Lightspeed Analytics and navigate to Sales & Inventory > Reports.
- Start a new annual profit report by clicking the Options button. Select the report variant you want to display, i.e., Default, By Supplier, By Category.
- For multi-location accounts: Under Dimensions > Multi-Location, find the Store dimension. Add it to the report and click Run.
3. Units per sale
The Units Per Sale report will give you an idea of the impact of closures on your sales and the success of the measures you’ve taken to counter their impact on your business. Historical data will be helpful in this regard.
This information helps you make the psychological triggers for effective nurturing right decisions for growth. If you operate multiple stores, run the report for each store individually, as what is true in one store may not be true in another.
Ultimately, you want your retail data to reflect more units per sale. However, depending on your industry, your customer base may have reduced spending for at least part of 2020. Try reviewing your report results based on the timing of different promotions and new sales tactics you tried last year. If a particular sales strategy correlates with more units per sale, incorporate it into your 2021 business plan.
Note: This report will be easier to read if you choose a time period less than one year. We recommend running the report for your highest and lowest sales points of the year, as identified in your other reports.
How to complete this report:
- Open Lightspeed Retail and navigate to Reports.
- Start a new report on units per united states business directory sale. Set the desired time period, i.e., July to August of the previous year.
- For multi-location accounts: From the Store drop-down menu, select the store you want to run the report for, or select All Stores to see aggregated data.
- Click Search to launch the report.