As an independent retailer, your goal is to get your retail business on more solid footing. For most, the emphasis naturally falls to rebuilding sales, and success or failure may very well hinge on inventory management. For a number of years, until the recession hit in full force in 2008, independent retailers had the luxury of not having to manage their inventories too … [Read more...] about Recession Lessons for Small Independent Retailers
How Your Retail Store can Wow Customers
It's tough to get customers to your retail store -- and tougher still to make them to return again and again. For your retail business to succeed, the key is to provide customers with a great shopping experience. What is a Great Shopping Experience? But what is a "great shopping experience?' The University of Pennsylvania released a study a few years ago on retail shopping … [Read more...] about How Your Retail Store can Wow Customers
Passion and the Independent Retail Owner
You are an independent retail owner. You've spent a lot of time trying to establish your store as distinctive and unique. You've put a lot of effort into trying to differentiate your business from the competition. You're always looking for that edge, the one thing that will make the difference. Look in the mirror. You are the difference. Your business is a direct … [Read more...] about Passion and the Independent Retail Owner
How to Recession-Proof Your Retail Business
A few years ago, I had the pleasure of listening to Victor Cheng speak about how to recession-proof your business. Victor is a well-regarded author and dynamic speaker who has appeared on Fox Business Channel and MSNBC, and been featured in the Wall Street Journal, U.S. News and World Report, SmartMoney magazine, Inc. magazine and TheStreet.com. Victor's advice is centered … [Read more...] about How to Recession-Proof Your Retail Business
Why You Need to Dig into Your Financial Numbers
When you really dig in to the financial numbers of your business, there's always a story to be told, sometimes a story that you just hadn't been aware of before. I was working with a client last week, analyzing June sales results. The month had been mildly disappointing, but there was one store in particular that was off more than the others. What do you do when one store … [Read more...] about Why You Need to Dig into Your Financial Numbers