Retail Location Selection & Market Potential through Predictive Analytics Increased competition and shrinking profit margins in the retail industry have necessitated a demand for sophisticated predictive analytics. Organizations want to know what they can expect from a new or existing location over the long…
Should you gently nudge your customers to give you a high score on their Customer Service Survey? Recently, I was shopping in one of my favorite stores – they have clothing and accessories for men, women, kids, infants; they have houseware and pictures and exercise…
You need Retail Math knowledge to run your business profitably. Retail organizations – in fact, any type of organization – must have figured out this equation early on…. Sales – Expenses = Profits Or have they? Plenty of businesses go ‘Out of Business’. Maybe they…
At Costco, no one expects or needs much assistance while shopping. Everyone knows how it works. They sign, ticket and present their merchandise clearly and correctly. Rarely is there a need to ask an employee a question regarding general merchandise. If you do need…
You know who they are. Their names may have already popped into your head. Every company has them. Some retail companies have quite a lot of them. So, who are they? ‘Retail H.O. Darlings’ are Store Managers who, seemingly, work tirelessly to impress. Their…
It takes a lot of effort and energy to follow up on all of the tasks and directives that we, as leaders, assign to our subordinates on a daily basis. If we fail to follow up, then much of what we expected to be…
From time to time we write stories – almost always favorable – about a particular retail organization that we do a lot of business with and one which we often use as an example in The Retail Management Workshop. All of us, here at…