As humans, we generally seek to quantify and categorize. Considering how quickly we often have to decide whether something is a threat or not, this makes sense from a biological perspective. Sometimes, however, it leads us to create rules that don’t actually exist. Rule of Three in Retail Consider the common assumptions that both bad Read More …
There are many goals in business, with sales and customer retention (e.g., repeat business) and impulse spending being the top among them. If you’re not making money, you’re not going to be in business for very long. It’s always nice when customers enter your retail store looking for specific items and find what they want, Read More …
The “stack it high and watch it fly” model of retail essentially relies on well-stocked shelves to create an attractive shopping atmosphere, giving the impression that a company is flush, and encouraging increased sales. Consider how shoppers might feel looking at a shelf that has been picked over and contains only sparse merchandise—it creates an Read More …
Clearance sales are a necessary part of any retail operation, and when they’re successful, both you and your customers reap the benefits. Stores have the opportunity to move out a lot of old inventory and replace it with a new, full-priced inventory. Shoppers get a great deal on items they may have been on the Read More …
The turning of the year is a time for personal resolutions. Thanks to the endless feasting associated with end-of-year holidays, one of the most common New Year’s resolutions is to lose a few pounds and get in shape. In other words, a lot of people are flocking to join local gyms, eager to get started Read More …
We are once again heading into the busy, winter holiday season, which means plenty of shoppers will be on the prowl for the perfect gift for that special someone—something that glitters brighter than the North Star. It’s prime jewelry-buying season, and as a retailer, you need to position yourself to bring in seasonal shoppers for Read More …
When it comes to brick-and-mortar retail, it’s no longer enough to rely on time-tested strategies that have served businesses for decades. With online shopping offering convenience and cut-rate pricing, you need to do more to entice shoppers out their front door and into your store. You need to deliver an irresistible experience. How can you Read More …
Folgers had the famous tag line, “The best part of waking up is Folgers in your cup,” complete with commercials showing sleepy parents roused to wakefulness not by noisy children, but by their coffeemaker automatically brewing a fresh pot in the morning. Our long love affair with coffee is about more than the pick-me-up from Read More …
Retail is a cyclical business. Sales can rise and fall with the seasons, holidays, and events like back-to-school shopping, prom, or the prevalence of weddings, for example. If you have yet to consider the impact sports can have on your retail sales, it’s high time you considered the money to be made by incorporating sports Read More …
When customers walk into a hair salon, nail shop, or spa, they’re not only looking for top-notch grooming; they also want to relax and leave the stress and demands of their busy lives behind for a little while. For this reason, every element of your decor needs to be functional and contribute to an overall Read More …