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The 90 day countdown has begun | The myth of "the bottom line" | Free way to check your profits outlook | Hmm. Time to sell your stores?
Monday, September 20, 2021
From The Co-Founders
Patricia M. Johnson & Richard F. Outcalt
Outcalt & Johnson: Retail Strategists, LLC
Retail Turnaround Experts
Christmas Week is Only 90 Days Away. Amazing, Or What?
Consider this: Will this Holiday Season happen in traditional RETAIL Time? Or always-on INTERNET Time? Or, the grinding PANDEMIC Time? Or, some combination of all of it?
What a 90 days it will be!
Remember July and early August, when there was much optimism? Consumers were excitedly resuming in-store shopping and dining. Social gatherings were increasing. Pent up demand was high. And shoppers were eager to make this year extra special to compensate for last year.
Then, the Delta variant surged. And the accompanying uncertainty has wreaked havoc. While the stock markets are reacting downward to the uncertainty, the more meaningful indicator for retailers – Consumer Confidence – is at its lowest level in nine years. Ugh!
But amidst all this is the resilience of retailers and shoppers alike.
The majority of people are vaccinated, and determined to put the pandemics behind them
. Enough already, they're saying! We have people to see and family and friendships to celebrate.
And they are shopping early. This could be fantastic!
This 2021 Holiday Season will be all about relationships. Your customers are counting on you to help them make this year special.
All those new ways that you established during the pandemics to be connected with your customers? This is the time for them to shine! Use emails and texts and social media to
keep your customers personally aware:
the unique and special merchandise you have;
your added conveniences of online ordering or curbside pickup;
the safe shopping environment you offer;
your knowledgeable staff;
and others that are proprietary to your stores.
Your shoppers already know that this year is different. They know that inventories are tight, and there are fewer retailers to choose from. And they are shopping early! They likely won't be driven by Black Friday specials and early season discounts.
They want special, and many are willing and able to pay for it.
Indeed, it looks like 2021 will bring a Holiday Season like no other.
Want more of the strategic retailing observations from Outcalt and Johnson? Prior commentary
From The Co-Founders
is available under
on The ROI site.
The Myth of "the Bottom Line"
Retail business owners are conditioned from day one to "have a profit" and "Improve the bottom line."
Yet sadly, many owners aren't exactly sure why.
What IS profit?
does it go?
is it important?
Now, thanks to The ROI, the myths surrounding "the Bottom Line" are being dispelled!
Don't Be Myth-Led!
Go here in The ROI's
Library for Owners
gets it, and
it really matters.
Myth of "the Bottom Line"
Any Profits Coming Soon?
Now that you've cleared up any myths surrounding your profits, time to see how your holiday season might turn out.
The ROI has this
special online tool
that lets you look at your potential profits in the near term (like the next 4 months.) Online 24/7.
And it's FREE!
Quick and easy for retailers to use.
It even lets you include
– services, rentals, etc – and the costs of providing those.
Amidst all the challenges and uncertainty of these times, retailers must constantly adjust. This
can help you make
informed adjustments, in a timely way.
Four Month PROFITS Outlook
Online, 24/7 • Only at The ROI • FREE
Free PROFITS Outlook
Is Now the Time to Sell Your Stores?
FREE Access • TOPICAL TUESDAYS Webinar of the Week
Whether or not this is the right time for you to sell,
it is definitely a good time to be thinking about it!
there's a new way for retailers to do just that!
Pat Johnson and Dick Outcalt, Co-Founders of The Retail Owners Institute®, have developed a
specialized strategic assessment tool specifically for retailers.
If you're thinking about selling your stores, it may be timely to re-think that process.
What matters to buyers
of businesses? (And thus, what you need to focus on if you are thinking about selling the business.)
Next, how to put a price tag on y
(Or, how much would you/should you pay for a business? Same approach applies.)
Then, Pat and Dick present their
uniquely-retail assessment tool,
and show how savvy retail owners can apply this to their own business.
In fact, one retail CFO said this about this approach:
"I think this is an excellent exercise to go through. The standard earnings multiple that accountants and bean counters use simply overlooks a lot. This is refreshing!"
Take advantage of free access all week to this
TOPICAL TUESDAYS Webinar of the Week.
FREE Access • Webinar of the Week
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Let others who care about retailing (or retailers!) know about The ROI.
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