| Discussion Forum: Thread 348225 |
|
 |
| | | Author: | LegoVolunteer  | | Posted: | Oct 10, 2023 13:39 | | Subject: | Inventory turnover rate? | | Viewed: | 115 times | | Topic: | Selling | |
|
| How quickly does your inventory turnover? That is, when you add something to
your store's inventory, how long does it sit there before it sells? (just
looking for estimates...I assume there is a lot of variety). Thanks!
|
|
| | | | | |
| | | | | Author: | Nubs_Select | | Posted: | Oct 10, 2023 13:47 | | Subject: | Re: Inventory turnover rate? | | Viewed: | 38 times | | Topic: | Selling | |
|
| | Just did the math and about 25% every year sells (brick wise) for me |
|
| | | | | |
| | | | | Author: | BurnsBrickHouse | | Posted: | Oct 10, 2023 14:01 | | Subject: | Re: Inventory turnover rate? | | Viewed: | 44 times | | Topic: | Selling | |
|
| I've been selling for almost 5.5 years. I have sold 600,000 parts/figs and
have 700,000 in the store's inventory. So, it seems that I've almost
sold half my inventory in 5.5 years. That being said, it took a while for my
inventory to go up and the sales to kick in. The more you have in the store
the more sales there are and the faster the parts move.
Doug
|
|
| | | | | | | | | |
| | | | | | | Author: | Nubs_Select | | Posted: | Oct 10, 2023 14:09 | | Subject: | Re: Inventory turnover rate? | | Viewed: | 37 times | | Topic: | Selling | |
|
| | Agreed it’s a snowball effect |
|
| | | | | |
| | | | | Author: | peregrinator | | Posted: | Oct 10, 2023 14:45 | | Subject: | Re: Inventory turnover rate? | | Viewed: | 41 times | | Topic: | Selling | |
|
| In Selling, LegoVolunteer writes:
| | How quickly does your inventory turnover? That is, when you add something to
your store's inventory, how long does it sit there before it sells? (just
looking for estimates...I assume there is a lot of variety). Thanks!
|
With a small store selling mostly new parts, depending on your prices you can
turn over your inventory in 9 months to a year - that's assuming you're
continuously adding as things sell, though - and there are some items that will
take years to sell, or never sell at all.
|
|
| | | | | |
| | | | | Author: | Brickitty | | Posted: | Oct 10, 2023 15:54 | | Subject: | Re: Inventory turnover rate? | | Viewed: | 34 times | | Topic: | Selling | |
|
| In Selling, LegoVolunteer writes:
| | How quickly does your inventory turnover? That is, when you add something to
your store's inventory, how long does it sit there before it sells? (just
looking for estimates...I assume there is a lot of variety). Thanks!
|
Honestly, it depends on way too many factors for an answer to be meaningful.
For a very-low-demand part, just a handful of copies might take 10 years to sell.
Or a single buyer could come along and purchase every copy you have at once,
after a week or a month or 5 years. For a high-demand part, you might sell it
within minutes of listing it, as I've done many times, or you might not sell
that one copy for a year or two. Copies might sell one at a time, or you might
sell a thousand-plus copies in one day. My best-sellers are constantly flying
off the metaphorical shelves, but at least once a week I sell something I've
never sold in 2+ years. Then you have to take into account type of part, store
size, pricing, location, store feedback, etc. There's really no way to set
an expectation unless you're more specific. Otherwise the answer is meaningless.
If what you want is an average across all parts, like others in this thread have
assumed, I've sold approximately 60% of my starting inventory size in a little
over 2 years. But I've also added almost that many parts back into my inventory
in that time, and many of the parts I've sold were ones I added after launch.
|
|
|
| | | | | |
| | | | | Author: | BrickScope | | Posted: | Oct 10, 2023 16:04 | | Subject: | Re: Inventory turnover rate? | | Viewed: | 46 times | | Topic: | Selling | |
|
| In Selling, LegoVolunteer writes:
| | How quickly does your inventory turnover? That is, when you add something to
your store's inventory, how long does it sit there before it sells? (just
looking for estimates...I assume there is a lot of variety). Thanks!
|
When we were actively adding stock on a regular basis, we sold about 5% of our
inventory each month. That sounds exciting until you realize that some parts
have hardly any demand. After being closed for 6.5 years we reopened the store
with the original remaining inventory and are now selling items that are in demand
once again.
Zoe
|
|
| | | | | | | | | |
| | | | | | | Author: | Shiny_Stuff | | Posted: | Oct 11, 2023 01:44 | | Subject: | Re: Inventory turnover rate? | | Viewed: | 43 times | | Topic: | Selling | |
|
| In Selling, BrickScope writes:
| |
When we were actively adding stock on a regular basis, we sold about 5% of our
inventory each month. That sounds exciting until you realize that some parts
have hardly any demand. After being closed for 6.5 years we reopened the store
with the original remaining inventory and are now selling items that are in demand
once again.
Zoe
|
I love Stale Inventory -- when it is worth far more today than it used to
be years ago 
____
|
|
| | | | | |
| | | | | Author: | rab1234 | | Posted: | Oct 10, 2023 23:00 | | Subject: | Re: Inventory turnover rate? | | Viewed: | 39 times | | Topic: | Selling | |
|
| For the past 3 years, I've turned over my store value every 6 months.
But like others have said, this is a somewhat meaningless stat. You could turn
over your entire store every week if you price low enough.
I feel like I've hit a good balance where I can get 2 or 3 orders a day,
about a 3x return on my purchases, and only spend an hour or so a day on average.
In Selling, LegoVolunteer writes:
| | How quickly does your inventory turnover? That is, when you add something to
your store's inventory, how long does it sit there before it sells? (just
looking for estimates...I assume there is a lot of variety). Thanks!
|
|
|
|
|
|
|
USA, Tennessee
Canada, Ontario
