wtn teajectory top tearetailtrends_surveyonly
DESCRIPTION
Ongoing survey of tea retailers in North America. Survey consists of three questions, results are interactive and are displayed in the presentation (provided the presentation is in slideshow mode and connected to the internet). Survey is seeking responses from 250 owners of tea foodservice, packaged goods retailers selling tea and tea merchants. Results will be published in World Tea News in September 2011. Dan Bolton, Editor/[email protected]TRANSCRIPT
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TOP TEA RETAIL TRENDS SURVEY
CORE CONFERENCE SEMINARSJUNE 24, 2011
DAN BOLTONEDITOR/PUBLISHERWORLD TEA NEWS
© World Tea Media
CELL PHONE SURVEYPoll Everywhere is a simple text message voting application for live audiences. Vote by textingCODES (or Tweet ) in answer to questions on-screen. Poll results within the presentation will update in real time. Try it now.Text a CODE to 22333 | Tweet @poll and a CODE | Submit CODE to
http://poll4.com
World Tea Expo is:
Code 32563 Really cool! 54%
Code 32595 Really hot! 46%
© World Tea Media
How To Vote via Texting. Use 22333 and put CODE in message.
1. Standard texting rates only (worst case US $0.20)2. We have no access to your phone number3. Enter CODE in message line (not subject line)
TIPS
EXAMPLE
32563 or32595
22333
32563
32595
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How To Vote via www.Poll4.com
Enter 5-digit CODE in window, click submit.
32563 COOL or 32595 HOTTIP
EXAMPLE
32563
32563
32595
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How To Vote via Twitter
1. CODE immediately follows @poll (one space between)2. Since @poll is the first word, your followers will not receive this tweetTIPS
EXAMPLE
@poll 32563 or 32595
32595
32563
© World Tea Media
SELECT YOUR BUSINESS CODE• CODE (50 Show Responses as of June 26)
• 79706 |Tea Room/House 23%
• 79860 |Specialty Retailer 27%
• 79861 |Hospitality/Restaurant 0%
• 79867 |Mass Merchant 0%
• 79871 |Spa/Wellness Center 2%
• 79874 |Coffee House 10%
• 79882 |Web-based Store 19%
• 79897 |Supplier 4%
• 79898 |Distributor 6%
• 79919 |Manufacturer 8%
© World Tea Media
79706 |Tea Room / Tea House79860 |Merchant Specialty Retail 79861 |Hospitality / Restaurant79867 |Mass Merchant
79871 |Spa / Wellness Center 79874 |Coffee House79882 |Web-only Tea Store79897 |Supplier79898 |Distributor79919 |Manufacturer
CODE
Responses appear in this frame in real tim
e.
© World Tea Media
WHAT IS YOUR AVERAGE DAILY TICKET AMOUNT?
There is no universal formula to achieve retail riches.
Success demands brilliant execution of a million details from scheduling staff to social media marketing.
The first step is to consistently deliver great tasting tea.
A retailer’s next priority should be stocking, pricing and displaying offerings selected to establish a transaction average that will return gross margins of 50+ percent.
A common ticket average for tea retailers is between $20 and $25. The simple exercise that follows will invariably help boost sales.
© World Tea Media
129298 | < $4129302 |$5 - $9129304 |$10 -14129305 |$15 - 19129308|$20 - 24129309|$25 - 29
129319|$30 - 34129322|$35 - 39129323|$40 - 44129333|$45 - 49129334|$50 - 54129335|$55 - 59
129339|$60 - 64129345|$65 - 69129349|$70 - 74129350|$75 - 79129351|$80 - 84129356|$85 - 89
129360|$90 - 94129365|$95 - 99
CODE
Resp
onse
s appear
in t
his
fra
me in
real ti
me
.
© World Tea Media
AVERAGE TICKET (50 SHOW RESPONSES AS OF JUNE 26)
Code 129302 < $4
Code 129304 $5 - $9 4%
Code 129305 $10 - $14 1
Code 129308 $15 - $19
Code 129309 $20 - $24
Code 129319 $25 - $29
Code 129322 $30 - $34 4%
Code 129323 $35 - $39 4%
Code 129333 $40 - $44 3%
Code 129334 $45 - $49 4%
Code 129335 $50 - $54 2%
8%
20%
16%
10%
26%
© World Tea Media
HOW MANY SALES DO YOU TRANSACT DAILY?
Now let’s look at the impact of traffic on your top line.
Frequency matters. Every customer returning monthly brings you $300. That same customer visiting weekly brings in $1,300 annually.
You can gross a million on $25 transactions but it requiress150 customers a day, or 15 transactions per hour. Teavana averages a $36 sale for every visiting customer.
If you can increase your store’s ticket average to $45 the traffic count falls to a reasonable 70 customers per day.
A high transaction average enables the
American Tea Room to earn $1 million while
serving only 35 customers a day.
© World Tea Media
CODES129767 | < 20129768 | 20-39129773 | 40-59129790 | 60-79129803 | 80-99129807 | 100-119129812 | 120-139129815 | 140-159
129816 | 160-179129840 | 180-199129841 | 200-219130809 | 220-239130811 | 240-259130812 | 260-279130813 | 280-299130816 | 300-319
231840 | 320-339231841 | 340-349231842 | 360-379231850 | 380-399231851 | 400-219231853 | 420-439231856 | 440-479231857 | 460-499
231858 | 480-499231859| 500-519231861 | 520-539231862 | 540-559231862 | 560-579231863 | 580-599231886| > 600232800| > 700
232802| > 800
Resp
onse
s appear
in t
his
fra
me in
real ti
me
.
© World Tea Media
AVERAGE DAILY TRANSACTIONS (MAY 2011) (50 SHOW RESPONSES AS OF JUNE 26)
CODE 129767 <20
CODE 129768 20 - 39
CODE 129773 40 - 59
CODE 129790 60 - 79
CODE 129803 80 - 99
CODE 129807 100 - 119
CODE 129812 120 - 139
CODE 129815 140 - 159
CODE 129816 160 - 179
CODE 129840 180 - 199
CODE 129841 >200
0 %
10%
0%
0%
2%
0%
2%
0%
45%
19%
12%
© World Tea Media
QUARTERLY RETAIL REPORTS
The information you just offered is extremely valuable.
A good case can be made for the tea industry to initiate a Quarterly Retail Tracking to establish benchmarks.
Anonymous third-party surveys conducted by phone (instead of internet or panel interviews) allow clarification and better control. This proven, unbiased method insures accurate data and the best representation of current market conditions.
Projections are based on in-store traffic, online orders and average ticket sales. Core survey questions establish pricing benchmarks, cost of goods averages and labor. Several questions can be used to explore developing trends with an eye for opportunities.
© World Tea Media
This Power Point is the intellectual property of the presenter and copyrighted by World Tea East. Permission to print or disseminate all or part of this presentation is granted provided that the copies are not made or distributed for commercial advantage and that the title and authors of the presentation appear on the printouts. To copy
or disseminate otherwise, or to republish in any form, requires written permission from the authors and World Tea East.
Join us for the next trends update at World Tea East in Philadelphia at the Pennsylvania Convention Center Sept. 9-10. Visit www.worldteaeast.com to learn more.
Subscribe to www.worldteanews.com to learn about these trends in greater detail. This report is an annual collaboration. If you would like to share your observations about tea trends that impact retail sales please contact me.
Dan BoltonEditor/Publisher
(204) [email protected]