Tips and Insight on becoming a profitable retail store

OTB Police! We need them more than you think!

On many occasions, I’ve said to my customers and those attending my seminars that there are no OTB Police. But there should be. Once you set up an open to buy plan (and every retailer should), you need to follow it. The temptations in the marketplace are too great if you don’t stick with your … Read more

Employees! Do you have enough?

I can’t even begin to remember all of the times retailers have told me that they didn’t have time. Time to consider something that will help them and save them time and money. They need to be on the floor selling. No one sells better than they do. Retailers generally feel that they can keep … Read more

It’s time for Retail on Steroids!

Are you pumped? Are you ready? Are you ready to go toe to toe with the big boys? Is your staff pumped? Is your inventory overflowing? Have you started slashing prices? Yes, folks, now is the time to throw away all of your profits. Retailers decided long ago to compete on PRICE rather than service … Read more

Ready for January . . . right now?

The holidays are almost here and retailers are focused on making their stores as attractive as they can to bring in customers and sales.  Many are depending on these next two months to save their year.  But your focus should be on January for two important reasons Many retailers go into the holidays overloaded with … Read more

Wouldn’t it be great not to worry about money?

Most retailers spend most of their time worrying about money. Whether sales are good or bad, there’s always too many bills and invoices. How does this happen? Most retailers are creative. They know how to sell, they know about their products, they know how to make the store look great and they know how to … Read more

Buying without an open to buy plan is like driving with a blindfold.

There may come a time we can drive our cars with blindfolds or while we’re texting or watching a movie, but today, it’s insane. The same holds true about your store. While you know your customers, your merchandise, your competition and have a strong knowledge of the weather patterns, tourism, and your promotional schedule, without … Read more

Is this how you Plan your Buying?

It’s amazing how often we (figuratively) assume this position. In a way, it protects us from a lot of unpleasantness. World news, the weather, riots, racism, and so many other things are more palatable when ignored. Sometimes it’s even healthy to do this as there are so many things in our lives that prompt stress … Read more

Buying and Drinking have a lot in common!

Think about it. When you drink in moderation, you feel relaxed and enjoy all that is going on around you. When you drink to excess, you become a different person. You think you are larger than life and can do almost anything. You lose your inhibitions. You embarrass your self. You wind up wondering what … Read more

Why Retailers Fail!

Think about it. Retailers are falling by the wayside on a regular basis. And it’s not a new phenomenon. It’s been happening since there were retailers and the cause is almost always the same. Retailers know their customers, so they know what to buy for them. They know how to do displays that will entice … Read more

Commitment to the numbers.

To achieve your goals, you must commit to doing whatever is necessary, not just what is easy or pleasurable. Many things we must do are out of our “area of expertise” or we just don’t want to do them. But to succeed, we must grit our teeth and get the job done. Occasionally, we find … Read more

Too Good Not To Share!

Sunday I was watching a sports program and had just finished lunch. The phone rang and I figured it was a telemarketer, but happily it was a retailer from California who was trying to learn more about open to buy since she was totally dissatisfied with the consultant she had been using. She explained that … Read more

Too busy for open to buy?

One thing retailers do is to keep busy – too busy! Of the thousands of retailers I have spoken with over the years, their biggest problem is that they are so busy “putting out fires”, that they don’t have time to deal with the one thing that will solve their problems. Once a retailer is … Read more

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