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This question is about sales person skills.
How to calculate a lift in sales?
You calculate an incremental lift in sales by subtracting baseline sales from actual sales. Sales lift is defined as the incremental increase in sales that occurs during a specific promotional time period versus the baseline sales that would have occurred during that same time period had the promotion never been launched.
Sales lift is a way for marketers and retailers to calculate the effectiveness of their marketing efforts and promotions. To calculate an incremental lift in sales you must first know your actual and baseline sales.
Actual sales: This is the dollar amount of total product sales during a specified promotional time period
Baseline sales: This is the estimated dollar amount of total sales during the same period if the promotion or campaign had not occurred.
Baseline sales can be determined by looking at the prior year's sales data or by compiling sales data for a set time period prior to a promotion or campaign and comparing it to the same length of time post-promotion to average out a baseline figure.
Determining baseline sales data is not the only consideration for a brand that's looking to measure its promotions. Other data, including seasonal trends, traffic, merchandising compliance, inventory data, customer behavior, customer engagement, and competitive intelligence should also be considered when performing a sales lift analysis.
Performance in all of these areas, after all, impacts retail sales, which is why new advancements in data-driven retail technology are now driving decisions for many brands and retailers.
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