GITNUX MARKETDATA REPORT 2024

Statistics About The Average Inventory Turnover

The average inventory turnover ratio provides insight into how efficiently a company is managing its inventory by measuring the number of times inventory is sold and replaced over a specific period.

Last Updated: June 18, 2024

Written & Summarized by: Jannik Lindner

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In this post, we will explore various industries and their average inventory turnover ratios. Understanding these statistics provides valuable insights into the efficiency and performance of different sectors in managing their inventory levels. From retail and grocery to pharmaceuticals and gaming, each industry’s turnover rate offers a glimpse into its operational dynamics. Let’s dive into the numbers to uncover trends and benchmarks across diverse sectors.

Statistic 1

"The average inventory turnover in retail is about 8 times per year. The ideal number is considered to be 5 - 10 times per year."

Statistic 2

"In the grocery industry, the average inventory turnover ratio is quite high approximately around 14-17."

Statistic 3

"In the pharmaceutical industry, the average inventory turnover ratio is on a lower side, approximately around 12."

Statistic 4

"The automotive industry average inventory turnover ratio is about 10."

Statistic 5

"Consumer durable goods industry's average inventory turnover is around 5."

Statistic 6

"The Furniture industry's average inventory turnover ratio is around 6."

Statistic 7

"Construction industry has an average inventory turnover of about 13."

Statistic 8

"Brewery industry's average inventory turnover ratio is approximately 8."

Statistic 9

"For the Restaurant sector, the average inventory turnover ratio is typically around 25-30."

Statistic 10

"Food Service industry typically sees an average inventory turnover ratio of around 25-30."

Statistic 11

"In the Gaming industry, the average inventory turnover ratio is around 60 times per year."

Statistic 12

"For Household appliances, the average inventory turnover ratio is 6."

Statistic 13

"In the Publishing industry, an average inventory turnover ratio of around 1 to 2 is typical."

Statistic 14

"For Specialty Stores, the average inventory turnover ratio often falls between 2 to 3."

Statistic 15

"In the electronics industry, the average inventory turnover ratio is around 5."

The analysis of various industries’ average inventory turnover ratios provides valuable insights into the efficiency and performance of inventory management practices across different sectors. Retail, automotive, consumer durable goods, and furniture industries exhibit moderate inventory turnover rates, while the grocery and construction industries demonstrate higher turnover ratios. In contrast, pharmaceuticals, household appliances, publishing, and specialty stores have lower turnover rates. The restaurant, food service, and gaming industries stand out with remarkably high turnover ratios, highlighting the fast-paced nature of their businesses. The electronics industry falls within the mid-range of inventory turnover ratios. By understanding these industry-specific benchmarks, businesses can benchmark their own inventory turnover performance and make informed decisions to optimize their inventory management strategies accordingly.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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