Every week, store owners in our community ask a different version of the same question: How do I make more profit? It’s a question that often comes with an equal measure of aspiration… and frustration. A More Profit Mindset Now, before you rush to cash management strategies – action steps to take, there’s a crucial mindset shift you must make … Read More
Profiting in the Retail Off-Season
How can you make sure you’re profiting in the retail off-season? This was a great question I received in our retail community recently, and I know many of you can relate. First things first—profitability is the goal, no matter the season. However, in a retail off-season, cash flow can take a dip, even if your business is profitable. So, let’s … 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
Why You Shouldn’t Do a Storewide Sale!
When cash is tight it’s easy to fall into the trap of running a storewide sale. After all, what would attract customers more than “Everything is 20% off!”, right? I’m here to tell you… DON’T DO IT!!! This plan will backfire on you! Why You Shouldn’t do a Storewide Sale When you run a storewide (or sitewide) sale, you actually … Read More
Why You Shouldn’t Do a Weekend Sale
I was chatting with a client recently, and she was feeling a little panicky. Her sales were down and she told me she wanted to do a quick weekend sale. My immediate answer was “NO”, quickly adding an explanation for why it was a bad idea. Then I realized that you might not know why it’s a bad idea either! … Read More
