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Tips | Tactics | Insights from The Retail Owners Institute®
Tips| Tactics | Insights from The Retail Owners Institute(R) • RetailOwner.com
Friday, April 20, 2018

From The Co-Founders

"Some retailers thrive thanks to magic, expertise and service."

Honest, we didn't write that. But we could have! 

A business writer for the Associated Press, Joyce M. Rosenberg, reported on the independent toy stores that are thriving, contrasting their success with the bankruptcy of Toys R Us.

What her reporting discovered about specialty toy stores are  qualities and "best practices" that are available to all independent retailers, whether you sell toys, tires, technology or tableware.

None of these should be news to retailers like you. But, it is always good to have some reminders of the "fundamentals."

Rosenberg discovered that the thriving independent retailers:
  • "Focus on merchandise that's not available in large chains."
  • "Offer shoppers the excitement of stumbling on something unique."
  • "Provide events, service, expertise and emotional experiences that internet retailers can't match."
  • "Attract knowledgeable sales staff who can explain the products and help shoppers compare."
  • "Provide the convenience of shopping in real time; getting it NOW."
Magic? Expertise? Service? You bet. Plus a big dose of guts and guile!  
 
source: Magic, expertise and service help independent toy retailers. Joyce M. Rosenberg, AP.

Getting through the retail maze with GMROI

One of the best tools for measuring and managing the productivity of your inventory investment is GMROI - Gross Margin Return on Inventory Investment.

  • It's fast and easy to calculate.
  • It is dynamic (some call it the "earn 'n turn" measure.)
  • Best of all, it provides powerful insights specifically for retailers.

No wonder The ROI calls GMROI "the #1 measure of inventory productivity."

Ready to put this powerful tool to work for your business? Of course you are!

Just go here in The ROI's Library to find out more. FREE!

How to Use GMROI

Owners: Need More TIME?


Silly question, right?

Everybody knows the answer, too. Delegate.

But how to do that with confidence? So you also have peace of mind with that new-found time?

That's why there is an entire section of The ROI's OWNERS Center dedicated to delegating with confidence. [Spoiler alert: Trust, but verify.]

All ROI Members have unlimited access to this unique OWNERS Center resource. What are you waiting for?
Go to OWNERS Center

SURVIVAL!
Owner's #1 Responsibility 

Friday April 20 – Thursday, April 26

The #1 responsibility of the Owner of a retail business is the survival of the business. That challenge must be faced, day in and day out.
  • A closer look shows that every retailer who is surviving is vigorously following the same 4-step survival process.
  • And what is the key survival ingredient common to all of these retailers? C-A-$-H!
This powerful TOPICAL TUESDAY Webinar of the Week presentation by Pat Johnson and Dick Outcalt, Co-Founders of The Retail Owners Institute, is packed with specific, real-world (and street smart!) ideas and tools you can apply immediately to improve the survival odds of your retail operation.

Go here for more info. Be sure to take advantage of this free access.
 
Friday April 20 - Thursday, April 26
ROI NEWS subscribers enjoy free access all week
Start NOW Free Access

Retail Business Insights

The Show Must Go On
Every day, when your store opens, like when the curtain goes up on a live stage show, you're in "The Theater of Retailing!"

And every day the audience is cheering and applauding...or not.

Your store MUST be entertaining, interesting or engaging to keep what The ROI calls, "The WOW Effect!"

Here's a very simple test.
  • If a customer returns to your store or department after a visit two weeks prior and sees the same merchandise, signing or layout as the last time, "WOW!" is replaced with "BORING!!"
  • And your final curtain may be starting to come down.

What is The Retail Owners Institute?
Empowering!

Since 1999, enabling retailers worldwide to
"Turn on their financial headlights!"
 

What Retailers Say About The ROI

"I joined ROI this year and love it! 

"There is no other place where retailers can get all this great info in one place nor specific training tailored to retailers.

"ROI is well worth the membership fee. Thank you!"
--Owner, Gift Shop & Gallery
 

Know anyone who should know about these?


For BUYERS 
The Open-to-Buy Center 

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The PROFITS Center at SmallBizRetailer.com

For OWNERS, Presidents, Decision-Makers
The Retail Owners Institute

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Retail Turnaround Experts

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