$20 Fish Named Cotton Candy – “The ‘Big Al’s’ guy treated me like I had huge lifetime value to the store, when all I wanted was a $20 fish.”
5 Steps to Getting Customers on Demand (Infographics) – Imagine you had a button you could press that would magically make customers appear during a slow period. That would be pretty awesome right?…
5 Ways to Increase Traffic (Infographics) – Higher foot traffic generally means higher sales. Here’s 5 ways you can do that…
6th Pillar of Retail – It started out with 4 pillars (or 4P’s): Product, Promotion, Price and Place. People did not count for much back then.
10 Pointers to Increase Retail Sales – During really busy times it is more difficult to get an accurate read on your associates’ performance. When customers are in a buying frenzy, and even desperate, it doesn’t always take a lot of skill and knowledge for an associate to make the sale.
14 Steps of Time Management for Retail Managers – Of course, we left out things that do not apply to people who work in the field in retail and other service industries…those who cannot simply close the office door or get to the bottom of their inbox by working late!!
75 Ways to Build a Retail Performance Culture Worth Millions – Did you ever wonder how some retailers manage to build a superb performance culture within a retail organization? You know, that culture that makes people outperform all others; the culture that inspires everyone and turns average employees into Super Heroes? …
AI Driven Analytics – AI-driven analytics and insights can greatly enhance your understanding of your target audience in Retail Management,
Amazing Little Store vs. Sluggish Giant – Today, we’re going to look at an important, but often ignored, part of running a profitable business… using a couple of enlightening (and very brief) anecdotes from my recent shopping adventures.
Another Day in the Life of a Customer – This chain has been in business for many, many years and, in my wildest dreams, I could not imagine that they would not have an electric can opener for sale. So, assuming that I was just not looking in the right place, I sought out an employee to help me.
Are You Losing Sales? – 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 and then unleash them on your sales floor…you are losing sales.
Artificial Intelligence in Retail – Solutions such as automated inventory management, demand forecasting, customer assistance, predictive analytics and more to enhance retail operations.
Back to Basics: At DMSRetail, when it comes to performance, we place the highest degree of importance on people. When all things are equal, people make a big difference. In fact people make a huge difference even when everything else is not equal. We have seen stores out performing other stores that are located in much larger market areas with higher average income levels within the same retail chain.
Basic Sales Process for the Retail Newbies – Basics of the Sales Process, This report was designed for people who have no experience in the retail/service industry.
Case for Using a House Account – When it comes to the use of a House Account, some insist on it and others forbid it. The problem with NOT using a House Account is that it can be unfair to associates in the stores.
Change your conversation, change your life – The danger we face while taking in all of this bad news is that we may actually begin to focus on nothing but the bad news. We may start to believe it completely. When we believe completely, there is a much higher chance of it being so. More
ChatGTP & AI in Retail – Overview of AI and ChatGPT Artificial Intelligence (AI) has become a cornerstone in advancing various industries, revolutionizing …
Communicating for Profits and Customer Satisfaction – The real reason retail personnel appear to be indifferent to their customers…. The President of a 200+ store division of a major retailer learned of a serious communication problem and commented that ‘this was to be expected in large organizations’. Well, that clears everything up. Many retail executives don’t believe that communication is important enough to get it right by coming up with a methodology that will ensure accurate and timely communication to field personnel…
Conversion Nightmare – In a busy regional mall, which has been operating for approximately 30 years, and which has undergone several renovations, there is one very unusually positioned store.
Crying Over Lost Revenue – Some retail teams don’t seem to understand the importance of ‘making the sale’. Why?
Culture: What a difference it makes! – Have you ever wondered about the impact a true leader can have on the culture of a company? Having worked for several prominent retail organizations I have seen the impact of both positive and negative cultures on the workforce, the customers and, of course, the success of the business. Have no doubt whatsoever, the head of the organization dictates, through words and actions, what the culture will be…
Customer Experience & Customer Satisfaction – This guide is intended to provide a basic understanding of the role of a retail sales associate or retail customer service employee.
Customer Lifetime Value – Use sophisticated analytics and artificial intelligence to estimate attrition and retention scores.
Customer Perceptions – Perception is how we make sense out of what we experience. Your interpretation of what you see and hear is just that-your interpretation.
Customer Service as a Loss Prevention Technique – Shoplifting creates losses of one of the company’s most significant assets – inventory…
Customer Testimonials – What our customers saying about DMSRetail products and services?
Dear Bobbie – Your Very Own Retail Advisor for FREE…Just Ask ‘Dear Bobbie’!
Different Ways of Losing Sales – If you believe that hiring staff, guiding them through onboarding documents, giving them a brief overview of …
Don’t Take Your Hungry Market for Granted – Here’s a story about taking your market for granted. You might find it interesting.
Downside of Self Scheduling – Self scheduling creates headaches for Store Managers! Calendar girls…or calendar guys…absolutely love the sight of a calendar with an invitation to choose when they will, and will not work…
Effective Leadership in Retail – Delegation, empowerment, and accountability are crucial aspects of effective team leadership within the retail business.
Emerging Technology Trends in Retail – Future Trends and Potential Developments: Shaping the Next Era of Retail
Empowerment – Shaping Customer Perceptions: How one seemingly reasonable company policy or one staff member who is not empowered can single handedly disappoint a top customer with a huge life time value…
External Conditions – Most retailers generally plan their targets, or budgets, based on the actual sales of the previous year. As the saying goes ‘past performance is a great indicator of future performance’. But every wise retailer will also carefully look at external conditions before committing a target or budget to paper; before using the numbers as a basis for buying merchandise and setting expense budgets…
Everything Old is New Again – Now that so many grocery stores, gas stations, banks…you name it, have moved to self serve, or barely serve, those of us who actually want to serve customers can stand out.
Final Word on Interview Questions – There are as many interviewing ‘styles’ as there are people doing interviews. Some have training on what to ask, what to look for, etc. Many do not. Those interviewers go by the seat of their pants.
Follow Up or Foul Up – 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.
Generic Retail Management Checklist – A retail management checklist helps ensure that all essential tasks and aspects of running a retail business …
Get Out of Town – Really – It is impossible to direct an operation without knowing how it works. How it really works, not how it is supposed to work. If you are in charge of a retail operation and don’t have your next out of town store visit trip booked …do it now. It’s more important to visit out of town stores more often than you visit stores in close proximity to Head Office.
Get Your Sales Staff Ready – As we approach the second half of the fiscal year, you may already feel it speeding by. …
Harnessing Communication for Enhancing Profits and Customer Experience – Unlocking the Power of Effective Communication for Enhancing Profits and Customer Experience. A common scenario in a …
Highly Successful Retail Manager and Customer Service – Highly successful retail managers (HSRM) are passionate about delivering exemplary customer service; they treat customers with the respect they deserve – role modeling on the sales floor so associates can see and hear exactly what exemplary customer service looks and sounds like.
How Can WOS Report Help? – The WOS report can be a great help for DM’s who want to be on top of their inventory picture, district wide.
How Important Retail Associates are to Your Retail Business – A study recently published by Wharton, University of Pennsylvania and Verde Group discusses the findings of a survey of 1000 randomly selected consumers. The objective of the survey was to discover what problems shoppers were encountering during their shopping experiences at retail stores and which of those problems were most likely to be discussed with others and which actually put customer loyalty at risk…
How to Hire Aces in Retail – Hiring Aces has been written to help retail managers take a new look at a very old process and show the reader how to go about hiring people that can be described as Aces.
How to Hire Right and Keep Them – Recruitment isn’t just about hiring, it’s about retention, and that means hiring the right person in the first place rather than someone who merely appears to be the right person. It costs far more to hire and train a new employee – on any level, in any industry – than it does to retain them…
How to Lift Your Retail Spirits During Slow Times – All we hear these days is how bad the last few months of the year are going to be. The National Retail Federation, in the United States, is predicting an increase of approximately 4% over last year, and they generally predict a bit on the bright side so the reality, in North America at least, is probably somewhat less than that…
If it’s not on the shelf then we don’t have it – Or how you lose retail sales for no good reason or for no reason at all.
Increase Profits & Cash Flow – Increase Profits Increasing profits in the retail sector is a multifaceted endeavor that involves enhancing revenue while …
Interrupted by Covid – Covid 19 certainly did interrupt our lives, didn’t it? Who would have expected such a thing to happen to an unsuspecting public?
Know how to interpret your Retail KPI’s? – Gaining an understanding of retail math lets the Store Manager put everything in perspective. Once competent in making all of the calculations for KPI’s pertinent to his/her store, the Store Manager gains new insight into exactly what is going on in their store. It’s like having the blindfold removed. Suddenly, everything makes sense…
Know How to Interview, Hire and Train – The Highly Successful Retail Manager (HSRM) knows the ‘cause’** is maximizing revenue and profit and that he must hire people who will further that cause.
Lead by Example – Leading by example basically means role modeling expected behaviors, in everything you do. It means being in an ‘on stage’ frame of mind at all times.
Leave Head Office to Learn – There’s something about ‘the office’, isn’t there? It’s that place where we get quiet time to get our thoughts together. We can close the door and really get some serious work done.
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 of the work done, making everything look nice and being good to customers.
Mastering Time Management: A 14-Step Guide for Retail Managers – Contrary to popular belief, the realm of retail presents unique challenges when it comes to managing time. …
Max ROI Store Visits – Conducting Informal and Formal Store Visits that Produce Winning Results Takes Know How!
Missed Opportunities: Quantified – 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…
Morale Hygiene – We know, through survey results, that motivating employees is very high on the list of challenges faced by retailers. It’s no wonder that motivation is very important when you think about the fact that your store employees are meeting your customers every day; representing your brand and your company every day…
Motivate Customers and Staff – Particularly during busy times, when you see increased customer traffic in the store, you will need to come up with a short and sweet message to give to your staff heading out onto the sales floor every day.
Multi-Channel Retail – One Critical Key to Success – More and more retailers are realizing the benefits of multi-channel retailing. Leveraging brand equity in multiple touchpoints has been proven to drive loyalty and interaction among consumers. With trends clearly showing the Internet as the core component to pre-purchase research, brick and mortar brands can ill-afford to take a wait and see approach as it relates to core multi-channel offerings…
Omni Channel Retailing – What is it?
Pay for Performance Debate in Retail – We think it’s high time DMSRetail weighed in on the subject of Pay for Performance compensation plans.
Planning for Successful Retail – There are many ways you can describe the direction of your retail business to your employees.
Prepare for Sales Success – We start our selling process with preparation. All professionals prepare properly and our routine is no exception.
Retail Analytics – In an industry notorious for expensive real estate, slim margins and tenuous customer loyalty, retailers in every category need as much support as they can get when deciding where to operate, what they should stock, which customers they should fight to retain, and how to communicate with them.
Retail Business & Artificial Intelligence – In essence, the application of artificial intelligence in retail and beyond is an aspect of computer science …
Retail Business Plans – The best way to show bankers, venture capitalists and angel investors that you are worthy of financial support is to show them a great business plan.
Retail Comes Alive with Big Data – Big Data refers to data sets so large and complex that they must be processed in innovative and strategic ways.
Retail Employees vs. Customers – Customers are NOT the retail employees’ enemy. After viewing a ‘down with retail’ website today, I find myself very disturbed at the distance that has developed in the understanding between some retail employees and customers. Wild generalizations are being made such as ‘customers have no respect for retail employees’ and ‘retail employees don’t care about their customers’…
Retail H.O. Darlings – 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.
Retail KPI’s: A sample of Retail Key performance Indicators.
Retail LP Specialist Duties & Tasks – Job Duties and Tasks for: “Retail Loss Prevention Specialist”
Retail Market Basket Analytics – These are used to analyze the relationships among items that a given consumer purchases.
Retail Market Potential – Increased competition and shrinking profit margins in the retail industry have necessitated a demand for sophisticated predictive analytics and artificial intelligence.
Retail Marketing – In today’s CRM landscape the old analogy comparing the rifle and shotgun approaches to message and / or offer delivery is perhaps more appropriate than ever
Retail Math – Managing by Numbers – The first time a Store Manager realizes that their store, and their performance in managing that store, is being judged by the numbers they quickly understand that there is more to managing a store than getting all of the work done, making everything look nice and being good to customers…
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 statement.
Retail Owners and Managers Develop Insomnia and Ulcers – If you manage, or own, even one retail store, you probably know that it’s true. And if you happen to be a perfectionist, well, there’s no telling what condition you might be in.
Retail Sales Process for Newbies – Unpacking the Fundamentals of the Sales Process If you’re new to the sales or service industry, this …
Retail Sales Training – Does this story ring any alarm bells with you? Because it should. A salesperson for a retail management consulting and training company calls or emails you and gives you the hard sell…
Retail Staff Bullies the Customer – At Costco, no one expects or needs much assistance while shopping. Here’s what happened…
Retail Store Categories – The North American Industry Classification System (NAICS) has replaced the U.S. Standard Industrial Classification (SIC) system.
RFID in Retail Business – In the retail industry, RFID technology is often used to track and manage inventory, as well as to enhance the shopping experience for customers.
Sales vs Task Orientation – For the individual who does not enjoy selling-either because s/he does not have the skills or simply does not want to do it – a position in a retail store may still attract them due to ease of entry.
Setup to Win – Setting Expectations & Setting People Up to Win. Make sure your new hires know what is expected of them.
Solving Retail Performance Problems – In this report, we are going to look at the reasons for performance problems. We are first going to give you the highlights and later take each point and expand on that point.
Store Manager is the Key to the Success of Your Store – Have you еvеr wоndеrеd why уоur rеtаіl store іѕn’t аttrасtіng аnd kееріng аѕ many customers as уоu wоuld lіkе? The аnѕwеr hаѕ muсh to dо with уоur store mаnаgеr.
Store Opening Checklist – Before Opening: Business Plan: This is the blueprint for your business, outlining your business model, market research, …
The Sales Floor Leader – During the holidays you can expect to see heavier traffic volume in your store. This requires a different approach on the sales floor…
Top Line, DoDo Birds and Retail Success – Do your people really care about making the sale? Talk is cheap…
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 normally be counted on to bring home the profits. Retailers take some comfort in that. Not so comfortable this year.
Understanding the Significance of Category Management – Buying stands as a pivotal pillar for all business entities. Tasked with overseeing the comprehensive organizational expenditure, this department ensures the seamless functioning of business activities by securing essential supplies and inventory.
Unraveling the Complexity of Multi-Unit Retail Operations Management – Introduction In the competitive world of retail, businesses are increasingly expanding their footprints, leading to the birth …
Visual Merchandising Checklist – Here is a simple visual merchandising checklist to help ensure that all key elements are considered when …
Weeks of Stock – For a district manager who regularly travels between different stores, and for store managers, weeks of stock can be a very useful number.
What are Retail Management Tools? – They are software applications or systems designed to help retailers manage, streamline, …
What Does Retail Prowess Mean? – Retail prowess refers to the expertise, skill, and proficiency in managing and succeeding in the retail industry. …
Where Have All the Salespeople Gone? – 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 hasn’t been what it was even in the early to mid 2000’s.
Why Retail Managers Shоuld Get Mоrе Rеѕресt! – Arе уоu a сurrеnt or former mаnаgеr іn a rеtаіl buѕіnеѕѕ? Do уоu work in a сlоthіng, shoe, оr discount ѕtоrе? Arе you mаnаgіng an еlесtrоnісѕ, jеwеlrу, оr specialty ѕhор? Stаnd рrоud. Chаnсеѕ are you dоn’t gеt muсh respect, but уоu ѕhоuld. Yes, уоu have a thаnklеѕѕ jоb with tеrrіblе hоurѕ, mеdіосrе benefits, and a раусhесk thаt bаrеlу соvеrѕ rеnt, utіlіtіеѕ, аnd thе Value Mеаl Dеаl. But уоu wоrk hard.
Word to the RetailWise II – Consider the story, below, about an employee who stole company time and charged up huge telephone bills by calling a 1-900 number! It goes without saying that retail stores, being open to the public, are prime targets for thieves.
Word to the RetailWise III – The Buyer’s in your retail operation may be incredibly talented…but they are not mind readers.
Word to the RetailWise X – Sometimes, we go all out for new business. Sometimes, that means we offer new customers something special, right? And that’s really nice for those prospective customers.
Word to the RetailWise XI – To manage your time effectively, you have to understand why Retail Managers need a unique approach to time management.
Word to the RetailWise XIV – People tend to draw incorrect conclusions when they don’t have enough information, knowledge and facts. This can lead to demotivation, demoralization and lack of productivity. Who wants that? Below is an example to illustrate…
Word to the RetailWise XV – I was right…something was up. At the end of the transaction she handed me my receipt and circled a website name printed on it.
Word to the RetailWise XVI – Retail organizations – in fact, any type of organization – must have figured out this equation early on…. Sales – Expenses = Profits Or have they?
Your Retail Business & Your Dreams – At that very moment, he realized that he had invited every problem, every issue, however important or insignificant, to be his and his alone…
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