Tariffs
Beginning around now, a 10% tariff is going to be charged on some of your new purchases. Merchandise won’t have the same costs as was expected when the items were priced out earlier this year.
Death of A Thousand (Margin) Cuts
We’ve all gotten our share of small paper cuts, which might sting a bit, but are quickly forgotten. However, if you were to receive 1,000 small paper cuts all over your body at the same time, you would certainly notice them!
I’m Sorry You’re Bored
We were attending a trade show a few weeks ago when one of our clients walked up to me and said, “I’ve never been so bored at a trade show”.
Leaky Buckets and Low-Hanging Fruit
It’s a common question we hear from retailers, “how can I get a larger piece of the pie from my trade area?” Many search for answers in new vendors or merchandise offers, a different ad agency or the next cool promotional idea. While these changes can and often do deliver sales increases, they come at a price.
Introducing MAPS: A Game Changer for Budgeting & Planning
Every now and again, something new comes along that fundamentally changes the way we work...we have developed one of those fundamental work-flow changes and...it will have a significant impact on the way you work.
Up, Down and Even, Christmas 2018
Every year we see different results for individual companies when comparing this year’s numbers to last and 2018 was certainly no different. I can’t even say that the wide swings were terribly unusual (from up nearly 100% to down 45%).
No One Noticed but the Bottom Line
Improving your bottom line is a challenge for many retailers. We tend to follow the same patterns of behavior over time (years and even generations) and therefore, markup and discounting wind up becoming a part of our culture, rather than having a net profit strategy.
Are You a Growth Stock or a Value Stock?
Some companies we work with are aggressive in their growth plans; many others have stopped investing in growth and are enjoying the fruits of investments of years gone by.
X + Y = People
In addition to what is an analytical thought process, try thinking about these... sales as customers, not items. Think about what you have to offer the thousands of people who want to buy from you... Merchandise for people...
Vanity, Sanity & Reality
I mentioned to him offhandedly...that we work with jewelers who have very impressive top line sales...with very low net profit as well as challenging cash flow, to which he simply said: “Vanity, Sanity & Reality”.