Retailers are notable for their optimism and their resilience. And the last couple of years have provided ample opportunities to showcase their ability to bounce back. But now, it's 2022. Time for those customers to pick up the slack. And here's an idea for helping them get started. Without costing a penny in advertising! Print up some "bag stuffers" (you know, conspicuous notes) inviting them to come back in November.
As you add it to their bag following their purchase this month, point out that when they "bounce back" to your store in November,they will save 20% off one item. That should be worth a return trip, right? Of course, you also can have the same offer for all online shoppers. The point is to get these customers to come back in November and spend some more money with you!
But here's maybe the best part of all. By offering 20% off one item of their choosing, you have given more control to your shoppers. And these days, when much of our lives can seem out of control, that can have a lot of appeal! Here's a sample idea to prompt your good thinking (and better design skills!) But don't dawdle. You've got to start getting those bag stuffers out there while there's still time left in October.
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.
Time to move on from Covid, and get our minds back on retail. Focus on the merchandise. And the customers. And the results. In other words, it's time to put the fun back into retailing! So, here are a few of The ROI's "attention to detail" reminders that you may want to have at the ready for your next staff meeting. A refreshing change of pace for everybody!
It has begun; the 4th quarter of the year. But sadly, Covid-19, the Delta variant, and now the Alpha variant will have huge influence. Meanwhile, there is no shortage of opinions and predictions about the economy, whether from Wall Street, the Fed, Capitol Hill, or your buying group or retail trade association. Amidst all this, we were intrigued by a report that could be of far more value to retailers: results of a monthly survey of consumer concerns.* After all, for retailers, the shopper matters much more than the pundits on the business pages.
As we approach April of 2021, the question for retailers is "Now what?" Having survived 2020, in many cases on guts and guile, we must now focus on how best to survive 2021 and beyond. As having one foot on the dock and one foot in the boat, the future of retailers in that Red Zone is not a pretty picture. Granted, there is much talk about the expectation that "convenience" will become a major factor for shoppers going forward. And we don't disagree.
Here's the deal: We see that this has brought heightened awareness of two different retail strategies: Convenience Retailing versus Destination Retailing.
Incredible value! 👀
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