Re-Inventing Retail

From the Co-Founders of The Retail Owners Institute.
Tips | Tactics | Insights on the Business of Retailing.

A Pensive TIme for Retailers Bookmark

A Pensive TIme for Retailers

In our experience, the Thanksgiving weekend - Thanksgiving Day, Black Friday, and Cyber Monday - also marks the beginning of a very pensive time for many retail owners.

  • All of the buying and pricing and promotional decisions have been made.
  • Seasonal staff has been brought in and trained.
  • Special displays have been set up, events have been scheduled, and everything is set.

While it is a very busy time in the stores, the owners are more like politicians on election night. All you can do is wait for the results to come in! 

Time to Talk Turkey Bookmark

Time to Talk Turkey
Get the turkeys out of your inventoryThanksgiving time in the U.S. is not a good time to be a turkey.

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

The same thing applies to your inventory.

Any "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.

Look what's trending up this Holiday season Bookmark

Look what's trending up this Holiday season

You've seen them, right? All the stories about how strong this year's Holiday sales are expected to be.

Meanwhile, the department stores – Kohl's, J.C.Penney, Macy's –  keep reporting sales declines. And malls, seeing less foot traffic and fewer shoppers, are scrambling. 

So, where will those robust retail sales come from? 

Is Social Media "Effective" for Retailers? Bookmark

Is Social Media

The ROI NEWS asked retailers this question about the effectiveness of Social Media: “Does it raise sales?!”

We invited retailers to take a short, quick, 6-question survey about their use of promotional tools in general, and, in particular, “Social Media”: Facebook, Twitter, Pinterest, Instagram, LinkedIn, Other.

We asked, and you answered!

You quickly confirmed that “social media” is in fact a hot topic among retailers!

And, you are willing to share your experience with it with others, and for that we say, Thank You!!

What is the "Future of Retail?" Bookmark

What is the

The NRF – previously known as the National Retail Federation – describes itself as "the world's largest retail trade association."

And indeed, it has expanded well beyond a "national" focus. Its far-reaching international focus matches that of its large enterprise members.

Which Holiday Shoppers Are Welcome? Bookmark

Which Holiday Shoppers Are Welcome?

A data analytics firm has identified four types of holiday shoppers, and advises marketers to have an appropriate strategy for each one. 

Well, of course, none of this is news to retailers! But we think it could make a good topic for your next manager’s meeting. (And, it might be news to some of them!)

  • How many of these patterns do you recognize among your own customers?
  • How many of these 4 types of shoppers are you prepared to serve really well this Holiday Season?

What's Up for Retailers? Lots! Bookmark

What's Up for Retailers? Lots!

We have a mental image of a wide-open plain with hundreds of prairie dogs, cautiously poking their heads above ground. Looking around, they slowly realize they can actually venture out into the world once again.

And venture forth they do. One by one at first, then more and more. Enthusiastically. Energetically. Excitedly bounding about, encouraging others to share  their sense of adventure and fun.

And that’s what we imagine is next for independent retailers. Here’s why.

This Is the Year to Be Bold. Remember How? Bookmark

This Is the Year to Be Bold. Remember How?

The forecasts for Holiday Sales are coming out. And they are very upbeat! 

Sales increases of 4.5 percent are forecast, versus last year's 3.6 percent. Meanwhile, holiday e-commerce sales are projected to grow 18-21%.

"With disposable personal income climbing and consumer confidence staying elevated across the U.S., the holiday shopping season could bring healthier sales for retailers,"  stated Rod Sides, the head of Deloitte's Retail Practice.

"The good news is retail is thriving, with a proliferation of new, niche retailers."

No Room for Mediocrity Bookmark

No Room for Mediocrity

Aren't we all sick and tired of the perception that retailing is terminally ill?

While it’s tempting to simply paraphrase Mark Twain – “The news of the death of retailing has been greatly exaggerated.” – when dismissing the doom-and-gloomers, we think that Dave Gilboa, Co-Founder of Warby Parker, the eyewear retailer, summarized it more accurately in an interview last week on PBS:

“We don’t think retail’s dead.
We think mediocre retail is dead.”

About The Co-Founders

Pat Johnson and Dick Outcalt, The Co-Founders of The Retail Owners Institute®, have been called "The Zen masters of retail finance!"

Since 1999, they have been assembling  their proprietary content into a unique self-help website. The Retail Owners Institute is an unmatched resource that assists retailers worldwide with basic financial training, assistance and easy-to-use tools.

Their engaging and empowering how-to resources about the financial levers in retailing are informative, fun(!), and retailer-friendly. Their promise: "Everyone will 'get it'!"

Pat and Dick are recognized experts in strategic retailing. Working only as a team – Outcalt & Johnson: Retail Strategists, LLC – they have been consulting, publishing, and speaking professionally throughout North America since 1990.

They focus exclusively on retail, or wherever retail is involved. They work with CEOs, CFOs, boards and owners of retail operations, as well as manufacturers or wholesalers expanding into retail. And they also are Retail Turnaround Experts.

Browse Around

There's lots more for retailers to see and use! Available nowhere else.

 go to Inventory & Turnover go to Cash Flow Control go to Sales & Profits Management

See for yourself why thousands of busy retailers from around the world use and love The ROI!

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