Re-Inventing Retail

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

Look who prefers shopping in stores Bookmark

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You’ve heard about the robust sales numbers on Thanksgiving Day and Black Friday, right? Now ICSC – the International Council of Shopping Centers – has sponsored a research survey about Thanksgiving Day and Black Friday to delve into them a bit more.

And what they found sure surprised us. 

For example, who were the biggest fans of physical retail and shopping centers?


Yep, those "digital natives", folks ages 18 – 36 chose to make their purchases from physical retailers (or through websites operated by physical retailers) rather than shopping pure online retailers such as Amazon.

A Pensive TIme for Retailers Bookmark

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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

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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.

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.

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