Don't limit this to just the recent customers. Go back in time as far as you can. They'll love receiving it!
And match your Valentine to however they connect with you. Post it on Facebook, or Instagram, or TikTok. Send emails. Send text messages. Even snail mail. All the ways you use to connect with them.
And make it clear that this Valentine comes from your entire staff!
The key: show them that you care – because we know you do.
And especially now, especially in today's environment, should we really need an excuse like Valentine's Day to share a little love?
❤️ Okay, we'll start!
Thank you for your interest in and support of The Retail Owners Institute. We appreciate you more than we can express!
Happy Valentine's Day!
Pat & Dick
According to the calendar, as of March 21, it officially is springtime. No matter what the weather is doing.
Well, it's time to bring the calendar to real life! Spring is really a state of mind! The dark winter has passed. Even the rain is warmer in the spring. And new growth is beginning to sprout; leaves are coming out. It's a wonderful, fresh outlook.
And that of course means it is a wonderful opportunity for retailers to refresh and reenergize their stores.
No matter what merchandise you sell - whether it's tires, apparel, books, housewares, office supplies, whatever - every retailer is in the fashion business.
And that means that your customers are wanting what is new and fresh.You know; "in fashion."
There's little that any of us can do to address the public health crisis of the pandemic. Its impact on people and businesses is a widespread and major jolt, akin to the shocks of 9/11 and the 2008-09 economic meltdown.
Even as painful and disruptive as the pandemic is at this moment, we must remind ourselves that it will subside. It's not whether it will subside, just when.
But all of us are going to have to deal with the ensuing economic situation, and its effects on our sales, our customers, our employees.
These are difficult times for us all. Retailing in particular is under enormous stress. Many feel like there are no good choices.
But, there are good decisions. And The ROI is dedicated to helping you be able to make those good decisions for yourself.
You've seen all the headlines. Worldwide inflation. Dire warnings of a coming recession. Big time discounts at retailers due to boatloads of inventory. Amazon doubling down on their Prime Day(s) sales. Shoppers shopping early in anticipation of rising prices.
Shaping up to be yet another "unprecedented" Holiday season for retailers, isn't it?
And a wonderful opportunity for all merchants!
How best to start? Set the boundaries.
Next, establish clear routines for monitoring inventory levels.
For most retailers, especially this year, reducing inventory is priority #1. With talk of a 2023 recession still in the air, lingering inflation driving up costs, and rising interest rates, cash is definitely king this year.
Time to revisit your year-end strategies for meeting your targeted ending inventory on December 31. If you are like many retailers this year, with plenty of merchandise in your stores, you know the challenge: how best to turn that inventory into cash? Quickly! Especially without looking like a distressed merchant.
Here's one answer for how to do that. Focus on improving the productivity of each shopper who comes to your store. That is, increase the IPTs (Items Per Transaction.) Make it easier, more compelling and more fun for them to buy more items from you.
"Of course I want it today. If I wanted it tomorrow, I would have come in tomorrow."
That's what we call "retail time." Retailers are comfortable with that pace; they enjoy the variety; they welcome the need to change and adjust.
But, instead of just keeping life interesting, 2020 seems to have gone overboard in bringing changes and disruption to us all. The triple pandemic of the virus, the economy, and the civil unrest. And oh yes, it's also an election year. Enough already, right?
We think the most challenging part of this is the effect on our sense of time.
Amidst the fog of uncertainty of 2020, retailers have experienced a breath-taking acceleration of time, as an array of new-to-retailers technologies have now become almost commonplace.
2020 has put an end to the days of retailers being technology laggards. We applaud the resilience and adaptability of retailers who did embrace change and especially technology during 2020. Retailers definitely rose to the occasion!
And yet, again, the virus is surging. Even as promising announcements are made about vaccines, the threat that COVID-19 continues to pose to the survival of local businesses is ominous, and substantial.
We agree! This is so not fair!
But, who is up to that challenge? Independent retailers who are merchants supreme.
Still less than $1 a day! 👀