What are you doing wrong in December? Not knowing how much cash you will have at the end of the year. It is important to see how much cash you are on track to generate compared to how much you need to take care of bills. There is still time to take strategic action. I am here to help you. … Read More
More powerful than a mission statement. This is what we believe. This is who we are. This is what we do. What do you believe? Who are you? What do you really do? You are part of a revolution. You know who you are impacting. Write it down. Share it! Here is Our Manifesto. Do you have one?
The images of Las Vegas linger in my mind. Boy do they know how to do marketing there. Even in breakfast diners! Paul and I had spent the evening at the Venetian. We asked a bartender where to go for breakfast and her immediate response was “The Peppermill.” Then our cabbie on the ride home gave us the same advice. … Read More
It is NCAA basketball time. I LOVE IT! It is March Madness. All these teams get one shot. If they lose – they go home. If they go big, they advance. For you, to advance means to increase your profits, right? So how do you go big? In order to go big, let’s start by going small. Let’s look at … Read More
This is an actual conversation that I had with a retailer… “Cathy, my business stinks. What can I do?” “I would love to help you. Send me some information so that I can see what strategy you should take to explode your profits. In the meantime, can I give you one REVENUE-BUILDING-GUARANTEED tip?” “Please anything…I will do anything…the store is … Read More
What is the single biggest mistake you can make? I used to go to seminars about retail advertising and when they would start talking about target markets my eyes would glaze over. “I sell kid’s clothes and gifts. Everyone knows a kid. Therefore, everyone is my customer,” I would think.In one way that is true. But obviously at some level, … Read More
There IS a difference between markdowns and discounts…..AND they are exactly the same. The difference is in how you track them, but they can mean the same thing. ANYTHING that reduces the price of an item is a markdown. A markdown is sometimes given different nicknames (reward credit, discount, loyalty dollars, etc.). Remember, YOU are giving the customer money to … Read More
It is HERE! We are in the midst of the 4th quarter and the end of the year will be here in just about 7 weeks. The great news is that there is still enough time to pump up your sales before then. Let’s talk about your marketing and advertising from now until them. There are 3 things you need … Read More
Watch the short video below to see if you can solve the retail riddle. We are insanely proud of it. Why? Because tons of you are making this mistake. And stuck in a “Broke Mindset”. Let us know what you think on www.facebook.com/retailmavens. Are You Susie or Clare: A Retail Riddle.
Are you tired of having so much to markdown? Are your red pens running out of ink?! Tired of watching all that profit just go down the drain? The #1 way to reduce markdowns and increase profit is to plan your inventory better. Inventory planning is the secret that all the big guys and most successful stores utilize. If they … Read More