You can avoid this checkout mistake! I’m talking about the definition of markdowns vs discounts. To your customer, there really is no difference between a markdown and a discount – they both mean a reduced price. But for a Revolutionary Retailer like you, there is a subtle, but important difference, and if you don’t know it – you might be … Read More
Retail Planning: Do NOT Make Resolutions Yet!
This time of year we’re flooded with posts about New Year resolutions. And don’t get me wrong – I absolutely believe in setting goals, and in writing them down. That’s surely a step that increases success. But right now I’m asking you to NOT make any New Year’s Resolutions. Not yet. There is something else you must do first. Look … Read More
Retail vs. Wholesale – What’s the Difference?
I often get asked: Retail vs. Wholesale – What’s the difference between the two? If you’re just getting started with your business, and you’ve found yourself curious about the differences between retail and wholesale and which is right for you – You’re in the right place! While there are a lot of similarities between the two – They both revolve … Read More
How do I get More Repeat Sales?
As a store owner, a BIG part of your revenue comes from repeat sales. But are you getting enough of them? If I was a Magic Genie in a bottle who granted you three retail wishes, you might wish for: But… Since I’m NOT a Genie (sorry I really wish I was!), you’ll have to rely less on magic and … Read More
7 Sure Ways to Waste Your Team’s Time
I remember when a retailer told me that staff meetings were a waste of time. Now I have heard many excuses why retailers don’t do them – but I usually don’t hear that they aren’t worth doing at all. So when I dug a little deeper, it became clear that this retailer was making some very common mistakes that did … Read More