In the dynamic world of retail, understanding and optimizing profit margins is crucial for long-term success. Recently, Pamela asked: How do I calculate profit margins to succeed in retail? In this blog I’ll explain the concept of cash margin, exploring its calculation, distinguishing it from gross margin, and delving into its impact on cash flow. Whether you’re a seasoned retail … Read More
Small Town Retail: You CAN Thrive
Yes, it’s possible to thrive in small town retail! Watch or read my chat with Lori Holt from Quilter’s Corner – a thriving small town retail shop! Lori is a RETAILMavens client who uses the 4 steps of the Sales Breakthrough System to build her sales, profit and supportive team. Watch this free training to start implementing the Sales Breakthrough … Read More
The Best 5th Saturday Promotions
The best 5th Saturday promotions not only brings traffic to your store, but also accomplishes the sales, profit and inventory goals you need it to. 5th Saturdays only come around 4-5 times a year which makes it the perfect opportunity for you to promote your store! As always, there’s a science behind everything we do here at RETAILMavens which is … Read More
Your Store Days: How do you increase your sales by 176%?
Would you like to know why YOU should celebrate Amazon Prime™ Days and turn them into Your Store Days? Wait, what?! Why am I asking you, an independent retailer, to cheer for Amazon Prime™ Days? Because this is a huge opportunity to take advantage of the cultural fanfare this event gets and put a local twist on it to make it … Read More
State of Retail 2022 – The 5 E’s of Retail Success
There has been a lot of uncertainty and confusion about what retailers can do right now to deal with everything going on in politics, with the economy and the world in general. Consumer habits have changed for sure. Recently I delivered my annual State of Retail in 2022 at our RETAILMavens Mastermind Retreat, sharing what you need to know about … Read More