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My favorite expression about running a retail business is that Retail is Detail, the sum of doing a lot of little things right. One of the little things that you can do right, really costs so little and means so much. This expression comes from Herb Wise. Herb owned a Men’s shop in Berea, Ohio. He could have written the book on customer service because he cared about his clients and treated them as friends. He had a great disposition and really loved being around people. Herb was also the
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Daily updated retail business news
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Better Direct Mail Marketing Tips for Retailers
10 Design Tips to Boost Response
The game in direct mail marketing is still response. So, do not sweat the postal increases- just boost your response. Consider the following design tips:
1. Get 'em involved. Guaranteed to improve response. Use stickers, scratch off areas, anything that makes the mailer interactive. If there is a drawing, make sure you have a "second chance" drawing, and use these leads to build your database
2. Try a new look. Before you gut the copy on your tired old mailer, try a design change. It could be all it needs is a face lift, not a complete makeover. Try a new envelope first.
3. What's in a name? Everything. If it is possible, personalize your mailer by incorporating the addressee s name. Everybody loves to see their name, but be judicious- using someone’s name every other word starts to look like one of those sweepstakes letters.
4. Keep 'em awake. Sameness is boring. If you send out a consistently timed mailer, (which, by the way, is an excellent way to build recognition) don't send out the same mailer month after month. But wait... don't change it too much, either. Try changing the ink colors. That may be enough to break up the monotony. Another idea is to make your mailer seasonal with appropriate colors for seasons.
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Every retailer has a "secret" expense. It doesn't even show up as a line item on your P&L statement, but it may be costing your more than your rent!
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Would you like a free consultation concerning your retail business issues? Our initial consultations are always free- free of any cost, and free of any hassle or pressure to go forward.
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We often talk of independent retailers to differentiate them from chain stores. The term independent carries a lot of significance, especially for consultants working with them to improve the bottom line. Many of these businesses are owned and operated by the same individual which gives that person the authority to make decisions quickly. They are truly independent from answering to anyone else in the organization. This independence can be both a blessing and a curse.
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increase sales in your store despite low traffic
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new store opening service A successful retail opening doesn't just happen It is the result of a lot of management pre-planning and good execution of the opening plan
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Open Apology To All Retailer Clients I fell victim to the doom and gloom of the so-called economic crisis Both Obama and McCain and the news media lashed us with fear
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retail consultant website privacy policy
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From Retail Consultant These are some interesting and helpful retail articles related to owning, managing and merchandising a profitable retail business, including a primer on retail math formulas, articles on retail management issues
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How important is branding for a retail store? Your image is your brand, and whether your retail branding is a friend or foe depends on how you design it, develop it, and nurture it.
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The Hallman Company Retail Consultant to Specialty Retailers Providing the Science to match the Art and Passion you bring to your retail business Open to Buy Understanding Retail math and your business Cashflow Inventory Management Retail Sales Training helping you win at retail
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Here is the guide for what to multiply the cost on an item by, in order to arrive at a desired or target markup percentage.
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The retail merchandising philosophy upon which a successful store’s strategy is built is a simple one. It all evolves around two words – and those two words are “What’s new”.
In order for a retailer to have a lot of “What’s New” at the right time, in the right store, and also to be able to pay for “What’s New”, you must have the ability to accurately predict sales in each classification, or category, of merchandise in each store. Then, you must be able to determine the proper amount of inventory to have on hand each month to achieve those sales – profitably.
Having too little of a particular group of merchandise on hand results in lost sales. Having too much leads to excessive and/or unbalanced stock, lousy cash flow, nasty markdowns, and sooner or later, lost profit.
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Here is a list of resources of interest and value to any retailer from where to find mannequins to display racks to store supplies, retail pos software systems, and credit card processing services.
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The Traits of Customers. Intuition and practice will do most for the salesman in judging the people with whom he comes in contact. In doing this he should look for the good traits, as every person is possessed of some. Even the crankiest person is usually liked by his dog, and there is a way to the favor of every one, if the salesman can but find it.
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Handling the Selfish Customer . You cannot be too polite in serving customers, and courtesy, which is tactful flattery, should be apparent in every move and speech. You will lose no opportunity of impressing upon the customer that he is the most important visitor you have had that day, that you are anxious to please him in every respect, that your interest in his welfare is even greater than your interest in the affairs of the store. You will do this be cause, if you do the things he likes, he will immediately classify you mentally as one who has the same kind of thoughts that he has, and because he regards his personal opinions as more valuable than those of any one else, he will think you a person of good judgment.
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Retail Customers' Natural Instincts
It is frequently said that in retail selling,we need most to be reminded of the things which should be the most obvious. If that be so, it is well to remark at once that a satisfied customer is the best advertisement for any store. A business can survive only through a sufficient volume of steady patronage, and this can be secured only by pleasing the majority of patrons. Were merchants able to tell accurately the likes and dislikes of every customer, there would be no retail failures, no need for advertising or window displays to attract new patrons, and many of the costs of business could be eliminated.
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Retailers benefit from Direct Mail Marketing
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This is a fable about a small fruit stand and it is all about understanding inventory turn and how inventory turnover can help you make more profit with the same invenstment.
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Often, I am asked by both new and seasoned retail business owners: How can I stay organized, get everything done which needs doing,
and not fall behind and lose control?
It all boils down to better time management, and continually developing your time management skills. Here are a few tips for better time
management:
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Timeless lessons in retail selling. All the secrets of successful retail selling were disclosed decades ago by a retail management master. His work, published in the time of America's booming retail industry's coming of age, is the foundation for all retail sales training courses ever presented by every retail guru, sales trainer, or retail company training program.
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understanding retail turnover To many retailers,inventory turn is one of the most confusing concepts in the retail business
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If I had to pick one character trait that I think is a "must have" in order to be successful in any endeavor, it would be persistence. In fact, it seems to be the one trait that is the dominant trait in every single, super-successful individual I know. I believe it to be the one trait that any retailer, indeed any ordinary person, can use to become extraordinary ("extra-ordinary").
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As retailers, we are about to put another season behind us. Now is a good time to take a hard look at the markdowns you are taking and about to take.
There is something to be learned, and something to build on, as new deliveries for transitional and early Fall will be at your back doors before you know it.
As you scan the merchandise that will be sold on sale, ask why these?
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Winning @ Retail is our basic open to buy service suited to all retailers. It is the ultimate in retail sales forecasting with pre-calculated open-to-buy budgets for retail inventory management
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