Sales per unit area
Encyclopedia
In retail, sales per unit area is a standard and usually the primary measurement of store success. The unit of area is usually square metres in the metric system
or square feet in U.S. customary units. Square feet are also widely used in retailing in the United Kingdom, but there are signs of a trend towards use of square metres.
, but the target number depends on the location, the type of store and other factors. For example, the Forum Shops at Caesars Palace in Las Vegas
sets a precedent for Las Vegas stores. The location has the highest sales per square foot of any mall in the nation at approximately $1,300 per square foot. The average for specialty apparel retailers, for instance, is $400 per square foot ($3,000/m²), and according to Baseline Magazine the retailer Hot Topic
achieves an annual $619 per square foot ($6,660/m²).
Among shopping mall
retailers the food court area, considered as a single store, and jewelers post the highest sales per unit area, in the range of $600 per square foot ($6,000/m²). Books and sporting goods are among the lowest.
Care should be exercised when comparing annual sales per unit at the national level to regional and lower levels.
One square foot is 0.09290304 square meters. So a sales per unit area of $400 per square foot is (400/0.09290304) = $4305.56 sales per square meter. One acre = 43,560 square feet.
Si
Si, si, or SI may refer to :- Measurement, mathematics and science :* International System of Units , the modern international standard version of the metric system...
or square feet in U.S. customary units. Square feet are also widely used in retailing in the United Kingdom, but there are signs of a trend towards use of square metres.
Sales levels in the United States
As of 2005 annual store sales in the range of $300 per square foot ($3,000/m²) is considered a respectable result in the United States as the national average for regional malls is $341 per square footSquare foot
The square foot is an imperial unit and U.S. customary unit of area, used mainly in the United States, Canada, United Kingdom, Hong Kong, Bangladesh, India, Pakistan and Afghanistan. It is defined as the area of a square with sides of 1 foot in length...
, but the target number depends on the location, the type of store and other factors. For example, the Forum Shops at Caesars Palace in Las Vegas
Las Vegas Strip
The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester...
sets a precedent for Las Vegas stores. The location has the highest sales per square foot of any mall in the nation at approximately $1,300 per square foot. The average for specialty apparel retailers, for instance, is $400 per square foot ($3,000/m²), and according to Baseline Magazine the retailer Hot Topic
Hot Topic
Hot Topic is an American retail chain specializing in music and pop culture-related clothing and accessories, as well as licensed music on CD. The majority of the stores are located in regional shopping malls. The first Hot Topic store was opened in 1988 by Orv Madden, who retired as CEO in 2000...
achieves an annual $619 per square foot ($6,660/m²).
Among shopping mall
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
retailers the food court area, considered as a single store, and jewelers post the highest sales per unit area, in the range of $600 per square foot ($6,000/m²). Books and sporting goods are among the lowest.
Care should be exercised when comparing annual sales per unit at the national level to regional and lower levels.
One square foot is 0.09290304 square meters. So a sales per unit area of $400 per square foot is (400/0.09290304) = $4305.56 sales per square meter. One acre = 43,560 square feet.