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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."
Maybe you've also noticed it. The recent articles about how retailers now have their inventories "more in line" after the glut of excess inventory caused by "supply chain disruption." Okay. That's good news. But, what jumps out at us is the frequent reference to "just-in-time" inventory management.
Look, if you can't measure it, you can't manage it. And, if you can't manage something, by definition (and experience!) it is out of control.
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.
We hear it over and over. "Good business citizenship" matters to shoppers. Especially for retailers, who are quasi-public figures in their communities. (AND in a goldfish bowl.) Customers vote with their feet, their wallets, and their hearts, and increasingly choose those retailers who "do the right thing", whether it's how they source product, hire and pay employees, reduce environmental impacts, etc. There are things that independent retailers do day in and day out, without perhaps even realizing how special they are! Most retailers we know are "aw shucks" type people. It's charming, but, especially in today's world, your leadership can be a competitive edge! So, why keep it a secret? Many of you are using social media to promote sales events, new product arrivals, etc. Why stop there? Social media – and your website – is the perfect place to share examples of the values that drive your business. And face it; those values may be too scarce today. They need to be featured!
Incredible value! 👀
Start NOW!