Retail Mathematics Basics

Numbers play a role in every retail business. From sales volumes to inventory counts, retailers need to understand how math can help them be successful. This course will cover some of the basic measurements and calculations used in the retail world. You will strengthen your math skills by working through examples and exercises, including calculating common retail metrics. Learning Outcomes Understand the definition of percentage Apply concepts of percentages to perform related calculations Calculate averages related to retail businesses Calculate markup percentages and profit margins for products Calculate the retail price for a product using markup percentage and profit margin Define several key retail metrics related to inventory, customers, and employees Calculate several key retail metrics related to inventory, customers, and employees Apply break-even analysis to retail situations