Time Analysis with the Australian Postcode Survey
In the cut-throat business of retail, being able to reduce expenses is of critical importance. If you can't keep your costs below your gross, you can't stay in business. You can add to this hurdle, competition from hundreds of other retailers in the same line of business, the enormous purchasing power that large multi-national retailers have over most smaller retailers, and the fact that our "friends" in parliament tend to have the interests of these multinationals in mind. The outlook is one of walking a razor's edge.
Along comes some bright spark with "late night shopping", or "Sunday trading" and all of a sudden we get caught up in the lie that more shopping hours translates to more dollars in the consumers wallet for spending! The fact is, that extended hours means that at the end of the week, your turnover remains the same, but your operating costs have increased. The question this raises is whether there are hours that can be cut that do not turn over enough to cover the added expense of being open for business.
The Australian Postcode Survey automatically records the time and date of every postcode entered. and you can choose which periods to report on. By printing out daily reports, you can compare your Sunday results with results for other days and the worth of Sunday Trading (or perhaps Tuesday Trading) becomes clear. Additionally, recording the difference in sales before and after your implementation of Sunday trading, is a good test of the hypothesis that more opening hours mean more sales. The same kind of analysis can be applied to any new or questionable trading period...