Total Sales Performance:
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The total sales amount is $1.20M, indicating a substantial volume of sales.
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Among the different Outlet Location Types, Tier 3 outlets contribute the highest sales ($472.13K), followed by Tier 2 ($393.15K) and Tier 1 ($336.40K). This suggests that Tier 3 locations are the most profitable, potentially due to larger or more established outlets in these areas.
Product Fat Content Sales Distribution:
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There is a notable split between Low Fat and Regular items. Low Fat products make up $425.36K of the sales, while Regular items contribute a larger share with $776.32K. This indicates that Regular fat content items are more popular or higher in demand.
Average Sales and Average Rating:
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The average sales per item is $141, and the average rating is 3.9. A rating below 4 suggests there may be room for improvement in customer satisfaction or product quality.
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It may be worth investigating further to understand which factors are impacting the overall rating and whether specific product categories have lower satisfaction scores.
Item Type Analysis:
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The top-selling item types are "Fruits and Vegetables" and "Snack Foods," each generating $0.18M in sales, followed closely by "Household" and "Frozen Foods."
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Given their popularity, increasing inventory or offering promotions on these top items could further boost sales.
Outlet Size and Performance:
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Medium-sized outlets generate the highest sales, totaling $507.90K, followed by small outlets at $444.79K.
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This insight suggests that medium-sized outlets are likely the most efficient in generating sales per square foot, offering a balance between size and sales volume.
Outlet Establishment Over Time:
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The timeline graph shows some fluctuations in sales over the years, with a notable peak in 2018 ($205K).
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It may be useful to investigate why 2018 had such a high sales peak and what factors led to the decrease after that. Understanding this trend could help plan for future growth.
Potential Actions
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Focus on Tier 3 Outlets: Invest more in Tier 3 outlets or replicate their model in other tiers.
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Product Marketing for Popular Items: Promote top-selling categories like Fruits & Vegetables and Snack Foods to boost sales further.
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Explore Customer Feedback: Given the average rating of 3.9, conduct customer surveys or feedback sessions to understand how to improve satisfaction.
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Increase Low Fat Product Awareness: Since Low Fat items generate lower sales, consider targeted campaigns to increase awareness and sales in this segment.
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These insights provide a solid foundation for decisions related to product marketing, outlet optimization, and customer satisfaction strategies.