Hi Nick, thanks for the video, just wondering that if i got 100 units at the start of the January 2024, and i sold 50 unit during the January, my sell through rate would be 50%, and then in February i bought another 200 units for the stock, and i sold 60 units in February, would my sell through rate for the February calculate as 60/(50+200) or 60/(100+200) ?
I know this is not the clear answer you are probably looking for, but.. it depends. Is this an item you are going to carry for a long time and continue to reorder from? If so, I would do the month to date (February) sell through in isolation so 60/(50+200) because that will be a better gauge for when you are going to need to reorder. If you are going to only carry this as a seasonal item (for example do one more order and then not order anymore) I would measure sell through on the life to date sell through (in totality from the minute you received a single unit). That way you can gauge how it is has sold through in completion compared to when you have 100% of the delivery in. This accounts for the rush you normally get at the beginning when the first product arrives. Hope this helps!
Hey! I have a big interview and a retail math test before hand, coming up next week! This would be my first true analyst position, coming from luxury retail management. Any tips or things i should know before going into these interviews or before taking the retail math test? I have already taken noted on this whole series😂 Though i dont exactly use these metrics daily, i am definitely exposed to them and can speak to the #s. I understand the business, i just have not worked directly in allocations before
First off - GOOD LUCK!!!! If you have watched the first couple of videos in this series that is a really good start. For the interview, an understanding of these things will definitely put you ahead of most people. A few things I would add is how are you at excel? I would take a look at Vlookup ahead of time as sometimes that gets asked (sort of like a retail excel test whether you are ahead of behind most people haha). In addition, I would also try to have a loose understanding of gross margin and WOS (weeks of supply), which is basically used to forecast out how much inventory you have left based on current sales. I am working on some more videos for this and will try to get them out for you before your exam to help some more :) If you have other questions, just comment here or shoot me a note at nick@oneshopretai.com, and I am happy to help where I can. You're going to do great!
Hi Robert - So sorry for the delayed response here. 3 units is the number of units sold in this example from the initial 10 that the store had. So they sold 30% at this sell through rate.
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Hey Nick love your content! Please do more calculation videos. They’re soooo helpful 😁
Thank you so much!!!! Good news is I am rebooting things now in a major way. If you have anything you want covered, let me know!
Hi Nick, thanks for the video, just wondering that if i got 100 units at the start of the January 2024, and i sold 50 unit during the January, my sell through rate would be 50%, and then in February i bought another 200 units for the stock, and i sold 60 units in February, would my sell through rate for the February calculate as 60/(50+200) or 60/(100+200) ?
I know this is not the clear answer you are probably looking for, but.. it depends. Is this an item you are going to carry for a long time and continue to reorder from? If so, I would do the month to date (February) sell through in isolation so 60/(50+200) because that will be a better gauge for when you are going to need to reorder. If you are going to only carry this as a seasonal item (for example do one more order and then not order anymore) I would measure sell through on the life to date sell through (in totality from the minute you received a single unit). That way you can gauge how it is has sold through in completion compared to when you have 100% of the delivery in. This accounts for the rush you normally get at the beginning when the first product arrives. Hope this helps!
Hey!
I have a big interview and a retail math test before hand, coming up next week! This would be my first true analyst position, coming from luxury retail management. Any tips or things i should know before going into these interviews or before taking the retail math test? I have already taken noted on this whole series😂
Though i dont exactly use these metrics daily, i am definitely exposed to them and can speak to the #s. I understand the business, i just have not worked directly in allocations before
First off - GOOD LUCK!!!! If you have watched the first couple of videos in this series that is a really good start. For the interview, an understanding of these things will definitely put you ahead of most people. A few things I would add is how are you at excel? I would take a look at Vlookup ahead of time as sometimes that gets asked (sort of like a retail excel test whether you are ahead of behind most people haha). In addition, I would also try to have a loose understanding of gross margin and WOS (weeks of supply), which is basically used to forecast out how much inventory you have left based on current sales. I am working on some more videos for this and will try to get them out for you before your exam to help some more :) If you have other questions, just comment here or shoot me a note at nick@oneshopretai.com, and I am happy to help where I can. You're going to do great!
im confused. if u sell 3 unit how would they reactive 10?
Hi Robert - So sorry for the delayed response here. 3 units is the number of units sold in this example from the initial 10 that the store had. So they sold 30% at this sell through rate.
Would you whiteboard do the math with an example?
Thank you for the feedback! Yes will white board this for next week and release :). Thanks for the feedback