What is Year-Over-Year (YOY) in Retail? Explained

Year-Over-Year (YOY) in the retail industry involves comparing data or performance metrics for a specific period this year with the equivalent period in the previous year. This analysis is essential for evaluating the growth or decline of key retail indicators, including sales, revenue, and customer engagement, over a consistent time frame. YOY comparisons offer valuable insights into a retail business's overall health and progress, enabling stakeholders to identify trends, make informed decisions, and strategize for future success based on changes in year-on-year performance.