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

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which statement best defines share of wallet?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

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?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

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
Support