Do you formulate a hypothesis and test it, especially before making large investments of your time and money? I'm the first to admit that I make choices based on gut feelings. I've been know to say "Yes!" to...
Listen, if you want to stay nimble in an ever-changing environment, then stop scrolling and pay attention right now.
What I’m about to tell you could help you transform fizzled business plans into future business success. (I’m banking on it to help me with mine.)
Managing different product lines across multiple seasons is enough to throw any new merchant off their game. That’s why a typical onboarding timeline in our industry is one whole year!
It’s takes the operational repetition of four major retail seasons — winter, spring, summer, and fall — to get the hang of what it’s like to manage the lifecycle of products.
My most downloaded resource for 2018 and 2019 has been a 14-point checklist on how to sell slow-moving inventory at full retail price. (If you don't have it, it's linked below.)
Inventory, styles, trends, and products come and go. Some faster than others.
During a time when every merchant and business owner I know is setting big goals for the new retail season, I'm doing something else.
I’m focusing on habits and think you should be too. Don’t get me wrong. I’m not knocking the value of goal setting. I do it myself. I even teach merchants how to do it more effectively. But I do think you’ll have an easier time reaching your goals if you focus on the mundane, repetitive, perhaps boring habits that make achieving your goals a foregone conclusion.
When I started working in a retail buying office, I found it to be an exciting time in my life. I adored being part of the decision-making that shaped what customers bought. Specifically, I enjoyed learning how to understand my customers so deeply that I could shop of them — thousands and thousands of them.
What you and I have in common is that we excel at translating visual or emotional inspiration into something a customer will pay for. We also have strong presentation skills — from visual communication to store merchandising to selling. Like you, I love this large portion of the job being a merchant! During this early part of my career, I could have left the rest of the merchant role behind. Believe me when I tell you, I tried and here’s how it went!
When I started consulting over six years ago, one of the most popular types of business questions I’d get asked was about marketing. It’s remains one of the top five questions I’m asked about every year.
Marketing, as a critical business function, is just as broad a practice as it is deep — meaning, there are many important moving parts. Luckily, for the both of us, there are also plenty of valuable resources for small and medium sized businesses. Yet despite the tips, tricks, and tactics available at our fingertips, Merchants continue to struggle with marketing their businesses for one main reason — marketing is NOT merchandising.
Retailers highlight new or key products through well-planned and shoppable merchandise presentations in order to promote full price selling.
Sale merchandise and slow-moving stock, on the other hand, are rarely romanced the way new or popular products are. As a result, the desirability and profitability of that inventory plummets. But what if it doesn’t have to? What if you could sell slow-moving stock at full retail price by doing more of the things you’re probably already doing?
My first act of holiday gift giving was already complete by Cyber Monday. A few weeks before, I had selected a wish list from a charitable holiday giving tree and over Thanksgiving weekend I dropped off the wrapped presents. This early practice left my heart feeling gratified, satisfied, and ready for plenty more shopping and sharing in the weeks ahead.
The holidays present a series of obligations and celebrations. We shop, ship, and celebrate throughout the season in phases. Don’t forget, we talk about ‘the holidays’ in plural for a reason! Holiday shopping comes in phases. As shoppers we know this — but what are we doing with this information as sellers? |
#1 THE FUTURE OF RETAIL
#2 HOW TO DESIGN A FOOLPROOF BRAND EXPERIENCE #3 5 STEPS TO SELL SLOW-MOVING STOCK #4 CREATING A COMMUNITY (AND LOYAL CUSTOMERS) #5 LEARN WHY SHOPLIFTING HAPPENS AND HOW YOU CAN PREVENT IT ARE YOU LOOKING FOR MORE? When you do, you'll get insightful how-to resources, retail inspiration, and time-sensitive deals.
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BUILD RETAIL PROFIT IN SIMPLE, ACHIEVABLE STEPS
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HI, I'M CHRIS GUILLOT!
I made my first sale when I was eight years old and started teaching retail business classes at 20. Now, 23 years after guiding my first clients, I'm here to help you build more profit.
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