Since 1999, empowering retailers and store owners to "Turn on your financial headlights!"


 

Tips| Tactics | Insights from The Retail Owners Institute® • RetailOwner.com
Friday, November 17, 2017

From The Co-Founders

Time to "Talk Turkey"


Thanksgiving time in the U.S. is not a good time to be a turkey. 

And, the week after Thanksgiving is obviously not a good time to try to be selling turkeys, or turkey dinners. Especially at full price.

The same thing applies to your inventory. The "turkeys" in your inventory need to be gone by the end of the Thanksgiving weekend. No matter how low the price needs to be, there are 3 vital days to get non-sellers out of your inventory.

Remember, the week after Thanksgiving Weekend is the time to have NO "turkeys" in stock.

Now is the time to make one last sweep through your stores to markdown ALL of the "turkeys" that might be lurking in your inventory.
  • Of course, you can check your POS reports for slow movers.
  • But  be sure to ask your staff! They know where the turkeys are. Which merchandise are they bored with?
Mark it down, remerchandise it, and let the shoppers have at it. 
  • The customers are primed and ready to pursue great bargains on Black Friday and throughout the weekend, whether in-store on online.
  • Give them what they want...and what you don't want going forward.
Gobble, gobble!

Are your profits hiding in plain sight? 

You've seen them, right? You may be using one yourself.

The typical accounting package that lists expenses in alphabetical order.
  • Advertising, then Auto Expenses, then Bank Charges, and so on.
  • Lines and lines of separate expense items, all detailed to the penny.
How useful is that?! Is this designed to inform? Or, to confuse and confound?

No wonder few retailers will spend much "quality time" with their financial statements.

So, The ROI has developed a simple trick that will let you make sense of all that data.

We officially call this process the PROFIT Finder. But among friends, it is known as “the Bucketizer!” 

Ready to make your expense management easier and faster? Check it out for yourself. Free!
Go to the BUCKETIZER

Compare Your Monthly Sales

"How are sales?" is always the key questions for retailers.

And the preferred response? "We beat last year!"

Now, thanks to The ROI, you can have even more perspective. We make it easy to compare your results to other retailers in your retail sector.

Go to The ROI site to see the just-released results. Free!
Retail Sales Trends

Time to Raise the Bar
on Your Advertising

Shouldn't it work as hard as you do?

Feeling the pain of John Wanamaker's famous lament about advertising?

Don't just take it. Now is a great time to take a more strategic look at your ad budget and plans.

And this lively online TOPICAL TUESDAYS Webinar of the Week, from Pat Johnson and Dick Outcalt, Co-Founders of The Retail Owners Institute®, shows you how to be more shrewd about your advertising.
  • This session is packed!
  • And yes, it’s even a little lofty.
But, get this: The ROI shows how it all can be done by you! For free!

Take advantage of this lively and empowering how-to webinar for retailers, only from The ROI. 

Free access all week long to this empowering session. Be sure to take advantage.
FREE Access thru 11/23

Retail Business Insights

Technology and Judgment
Technology never can replace judgment. (Yes, we're looking at you, Amazon!)

But, like The ROI's financial training, appropriate technology sure can inform a retailer's judgment.

Are you staying informed?

What is The Retail Owners Institute?
Empowering!

Since 1999, enabling retailers worldwide to
"Turn on their financial headlights!"
 
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For Buyers 
The Open-to-Buy Center 

For Managers
The PROFITS Center at SmallBizRetailer.com

For Owners, Presidents, Decision-Makers
The Retail Owners Institute
Or, when "frozen in the headlights"...
Retail Turnaround Experts
Objectivity. Choices. Action! 

 

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