What is Share of Wallet? - Definition, Concept & Example


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question 1 of 3

Which statement best defines share of wallet?

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1. If an average customer spends $450 a month on groceries and they spend $225 at your grocery store, what is your share of wallet?

2. Why is share of wallet a useful metric?

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About This Quiz & Worksheet

Answer these quiz questions to make sure you know about share of wallet metrics. You will be quizzed on what this metric is and how it is used by businesses.

Quiz & Worksheet Goals

In this assessment you'll find out if you understand:

  • The usefulness of this metric
  • How to calculate share of wallet
  • What it means when share of wallet increases

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the material, such as good goals a business should set for share of wallet
  • Defining key concepts - ensure that you can accurately define main phrases, such as share of wallet
  • Information recall - access the knowledge you've gained regarding the usefulness of this metric to businesses

Additional Learning

Read the lesson titled What Is Share of Wallet? - Definition, Concept & Example to learn more about this financial metric. It explains:

  • Other metrics that measure the effectiveness of marketing departments
  • Examples of share of wallet
  • Different ways businesses gather information to calculate share of wallet