How Much is Your Customer Worth?

Closeup side view of late 20's couple choosing some red wine at local supermarket. The guy is holding on of the bottles and they're both reading the label on the back. Big selection of unrecognizable red wines in front of them.

Let’s perform a simple calculation with your customers.

Here’s the math: What is the size of your average sales ticket? How many times a year does a customer come into your liquor store? Multiply the two and the answer is how much that customer spends in a year. How many years does the average customer spend with you? Add that multiplier and now you have an idea of how much they spend in their lifetime.

This story originally ran in Beverage Dynamics. View the full article here.