If you’re not taking advantage of pre-cashdesk impulse aisles, you are losing revenue. YES…IT’S A GOOD BET THAT THEY MISSED IT OUT ON THE FLOOR BECAUSE THEY WEREN’T EVEN LOOKING FOR IT!! THAT’S THE BEAUTY OF THE IMPULSE ITEM, ISN’T IT? For a very…
Never Ever Give Up! If you’ve given up…if you’ve already decided that you’re not going to participate in any further personal or professional development, then don’t bother reading the rest. It’s all about success, personal and professional growth, and betterment. It’s about overcoming common…
Have you been approached by a real, live human salesperson lately? For years, we’ve seen a steady decline in the amount of active selling going on in stores. Even taking Covid 19 and social distancing out of the equation, in recent years human interaction…
Retail Math – Managing by Numbers The first time a Retail Manager realizes that their company, district or store, and their performance in managing that, is being judged by the numbers they quickly understand that there is more to managing retail than getting all…
Numbers are NOT the Business! Numbers are the PICTURE of the Business! – Harold Geneen (CEO, ITT) 5 Reasons why you need Retail Math training: You’ve probably heard of the saying: “If you can’t measure, you can’t manage”. That is an important and true…
Retailers need to take a closer look at their missed opportunities; they need to quantify lost sales. I am going to do that right now, for a large office supply chain with very little competition. Just to give you a bit of background… The…
For a District Manager who regularly travels between different stores, and for Store Managers, Weeks of Stock can be a very useful number. Weeks of stock is: $ inventory divided by average weekly sales for that category/department, etc. Example: Inventory level: $8,000.00 Total…
Retail Key Performance Indicators (KPI’s) (This is a sample only – detailed analysis of Retail KPI’s can be found in Retail Math-Made Simple) Sales compared to budget/target: Actual sales $ divided by budget/target sales $. Sales compared to last year (or any other period):…
If you are of the opinion that you can hire associates, have them complete ‘new hire’ paperwork, tell them a little bit about your store and your customers, train them on how to use whatever equipment they will need to operate on the job…
Tough Times at Retail – What Can You Do? Retailers in many parts of the world are entering their busiest, most hectic and usually most profitable time of year. For those retailers these last few weeks of the year are the ones that can…