RETAIL MATH FOR BEGINNERS
Explore the fundamental concepts of retail math and learn how each applies to a retail environment. By the end of this course, you will have a comprehensive understanding of basic retail math formulas. You will know why each of them is needed and how each of them is used.You will know how to do the math!
“What is retail math, and why do I need to know it?”
If you work in retail in virtually any capacity, you almost certainly need to know the basics of retail math. That’s because these mathematical principles provide a Walmart supplier with information about profit and loss, and these formulas reveal what goes into coming up with those figures.
This class is for everyday people — not mathematicians or accountants. Here, you will be walked through concepts one at a time, thoroughly, and at a comfortable pace. You will understand the math and accounting terms that are used, what they mean, and how it all works together. By the end of this course, you will have a solid understanding of retail math concepts and how each is used to optimize sales and profitability. You will have the knowledge and skill to make informed decisions for your product. And your confidence will soar!
Who should take this class: Anyone in retail who is uncomfortable with math, those new to retail, those new to Walmart, those teaching others the basics of retail math, those who want to brush up on basic math principles. This is not a class for mathematicians, accountants, or those already comfortable with retail math.
You Will Learn
Definition of retail math
Importance of retail math to the retail industry and Walmart suppliers
Meet the Retail Math Formula Cheat Sheet
Volume Measures: How big is a business? How fast is it growing?
- Sales
- Sales Increase
- Average Price
Profitability Measures: Why is this important?
- Initial Margin
- Cost Compliment
- Markdowns/Markups
- Gross Profit or Maintained Margin
Asset Efficiency Measures – How efficiently is this business generating volume and profit?
- Inventory Turns
- Sell Thru%
- GMROII
Learn how retail math ties to your Vendor Scorecard
THIS IS LIVE ZOOM SESSION THAT RUNS FROM 9:00 A.M. TO NOON EASTERN TIME.
PRICE: $650
Registration closes at 3 P.M. Central Time on the last business day prior to the class.
Requirements
- Each student must register; one participant per registration.
- Each student must use his/her camera throughout class.
- Register using your supplier email address.
MEET THE TEACHER
Heather Reid worked for Walmart Canada for 22 years prior to joining Canada’s 8th & Walton in 2016. While at Walmart, she organized and facilitated its Retail Link® and various system-training programs for both internal and external Walmart customers. She also facilitated a four-day supplier training session on a bi-weekly basis, teaching over 2,000 suppliers. She has a vast knowledge of Replenishment (GRS) and is an expert in Retail Link® and in Accounting for both Walmart Canada and Walmart US. In addition to her deep knowledge of retail systems, Heather is an extraordinary teacher. She holds a diploma in Human Resources, Marketing, and Accounting and has held the Canadian Human Resource Leader (CHRL) designation.
Enroll Today!
$650