RetailBizBlog

The most planned for day in retail is Black Friday.  The quality of product and service can set the tone for your entire holiday season.  What most people do not realize, is the day after Christmas is also one of the highest traffic days of the year.  Most stores communicate how busy they were with total sales, unfortunately returns make such a huge dent on this day, that transactions need to be your measure.  I would also say, that to truly make the most of this day....it will require more planning than Black Friday!! First, stores need to staff accordingly.  Transaction count for the day after Christmas is usually within top 3 of December (it is worth noting this article is geared more towards businesses that experience an influx of holiday refund transactions).  Merchandise needs to get immediately priced and restocked, this is usually a huge miss.  Many customers are not looking to return, but exchange for a more suitable item.  There should also be enough cashiers available, a

As it seems to be an increasingly relevant topic, retailers are behind the curve when it comes to general public safety.  As most retail business is done on commercially owned and operated property, it is near impossible for them to initiate, and more importantly, practice emergency procedures.  Most retailers have guidelines that they communicate that are designed to protect the safety of the employees, but few mention safety of customers.  This needs to change. As a seasoned manager, I have long had confidence in my own knowledge of what I need to do in the event of an emergency.  However, I am concerned that in my absence, my employees may not have that same confidence, or even some of my peers.  Times are changing, and safety is NOT something we can wait on.  Most high target places like convenience stores and fast food restaurants are setting the standard with their practices, and almost all of their procedures can translate directly into shopping center/mall based retail. Fir

All the hiring and preparations you have made so far this year have hopefully lead to you enjoying a fun and mostly stress free holiday season.  Your store performance is doing great, your staff is keeping your store ready to do it again day after day and before you know it....it's 2013!! This is where the top managers take a step back NOW and start preparing for next year.  Typically, I would start to formulate a checklist to close out my holiday and the year.  Sometimes it may seem tough to take a step back right now, but I promise you - PLAN now and you will have the most productive January of your career (this works at all levels!)!! I usually would try to have a checklist for each component of my business.  My list might include things like these: People -     Temp vs Regular Staff evaluations - Did I luck out with any temp rockstars?  Did a regular team member prove to not be as strong as I thought?  If you have that rockstar, tell them your intentions NOW!     Anyone

Crunch time is upon us! Extended hours are here, the crowds are building, and shipment is overflowing out of the stockroom!! Here is my Top 10 easily forgotten ways for a Store Manager to keep their team going - Keep it fresh - When crunch time comes, people tend to get "stuck" in a rut. This not only will lead to burnout now, but leads to complacency when this is all over.  Rotate floor positions to break the day-to-day monotony. Sugar!! - It may sound strange, but as the energy is spent, sugar levels drop.  Bite sized candies can be the perfect "pick-me-up" that dragging person needs.  Anyone with kids can tell you how much sugar levels can effect your mood!! Crank up the Music - I know, I know...If you hear one more version of "I Saw Mommy Kissing Santa Claus", you are gonna quit! I promise, tune out the song, but let that beat add a little pep to your step, and you'll be home sippin' eggnog in no time! Exercise - Really?! After that lady

Times are changing!  Business on all fronts is rapidly moving in a mobile direction.  Some companies are already moving towards more of a "showroom" experience, as it can guarantee top-notch customer experiences, near perfect merchandising standards, less overhead, and a potential for more accuracy when it comes to depth in a product category. This idea may work for some business models, but it is not a one-size-fits-all answer.  In fact, it is the simple idea that "one size fits all" is false, and that is what will keep inventory levels in stores and store based retail alive.  But there is one approach that can work for everyone.  BE A PART OF SOMETHING BIGGER!  Several companies are not only making community involvement a major part of their operational structure, but they are actually evolving their mission to include the world outside their stores. In a time where technology is taking off, the same people that cling to the next best smartphone also seem to l

When I was younger someone once told me that if you wanted to succeed on Wall Street, ask 100 kids what the greatest things out there are...buy up as much as you can afford of the top 3 answers!!  When I was younger, that made sense.  The youth aren't the ones with their fingers on the pulse of business....they are the blood flowing through the veins!! Now, like picking a horse at a race, conventional wisdom says to listen to the people that spend all their waking hours analyzing and watching to find the best bets on Wall Street. On May 18, 2012, Facebook held their IPO (Initial Purchase Offering).  The Nightmare began.  It started with technical problems with the stock exchange itself (NASDAQ) delaying the opening and then not being able to confirm trades were being made.  Then was further plagued by rumors of Facebook financial officials and the some of the underwriters providing select clients info on the over-valuation of the IPO.  Unfortunately, Facebook was simply not the j

I think Time magazine ironically, and certainly unintentionally, hit the nail on the head in portraying the interesting turns that have occurred at Facebook.  2010 Time Magazine Person of the Year - Facebook Founder and CEO - Mark Zuckerberg.  2011 Time Magazine Person(s) of the Year - The Protester. Facebook had provided a launch pad like no other for groups to form, messages to be heard, and entire public opinions to be changed!!  It starts with little things like fans of Betty White creating a "movement" to push the people at Saturday Night Live to invite her as a host - success!! It grew into such large things as the foundation and communication line for much of the "Occupy" movement in 2011...the odd twist that Zuckerberg built the stage for "The Protester". I saw amazing things happen as people took to the internet to "get the word out".  There was a mother from my hometown that was stripped of her parental rights by her heartless ex th

Facebook has lured hundreds of millions of users into one place.  I could leave just that one sentence and every marketing executive in the world could read that combined with the title of this article and simply say, "Yep!" Then Facebook took things farther by leaps and bounds!! First it was keyword advertising. You make a post about travelling, suddenly there are ads for travel agencies and vacation destinations filling the borders of your browser.  These were great because they happened somewhat without you noticing.  You happened to be thinking of a vacation, and Carnival just so happened to have an add on your page!! Coincidence?! Haha..I think not! Then Facebook partnered with app developers, offering them a platform to reach hundreds of millions of credit card wielding users.  Zynga is among the most notable developers to use Facebook as a springboard to achieve targets that far exceeded their initial expectations.  With games like CityVille, Farmville, Mafia Wars

As the retail climate continues to change so rapidly, corporate level executives must do their best to adapt and adjust their business strategies. I have written much about what some of the steps are that can be taken both at store level and corporate level to insure your company stays ahead. The intent of this article is to educate employees as to some of the "whys" corporate makes certain decisions. The most common frustrations at the store level are usually focussed around pricing strategy and floor moves.  The typical scenario in both cases is changing something Monday to change it again on Wednesday, only to put it back on Friday.  Corporate has to look at the company as one giant store.  When your store sold $2000 on Monday and the best selling item was funky shirt, but the company sold $2.2 million and that funky shirt performed very poorly, the company needs to take that information and make a move quickly. Every single item that is sold in your store was purc

Throughout this blog I have talked so much about quality leadership.  As I watch my favorite NHL hockey team (New Jersey Devils) make it to the Stanley Cup round of the playoffs, I am constantly hearing about the success Head Coach Peter DeBoer is having.  He was hired after a lackluster stint with the Florida Panthers, to the chagrin and confusion of many Devils fans.  In a single season, Coach DeBoer has transformed a franchise that has built their legacy around defensive hockey, into a productive offensive machine.  This "new-look" team continues to confuse opponents throughout the playoffs, as it is nearly inconceivable that a coach can turn around a franchise in a single season with so much radical change. As a fan, I am proud to read about how his work ethic, discipline, and leadership have reached each and every player in that locker room.  His team is considered to be overachieving.  Where does over-achievement come from?  In theory, it was all already there, Coac