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In this month’s issue of Revolution we focus on an issue which affects the customer experience in your store - dead stock. By culling dead stock and following the best-practices of leading retailers, you can create a shopping experience which is simplified, differentiated and more profitable.
Don’t buy into the notion that cost-cutting is the only way to adapt to the economic recession. The right business advisor will identify opportunities for growth even though spending is tight. Read on for our tips on what to look for...
John Saywell,
Managing Director, RPM Retail Ltd
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| Cutting through the instore clutter |
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Retailers need to find the balance between carrying a big range of products and carrying just a few best sellers. At one extreme shops become so cluttered that neither customers nor staff can find what they are looking for. At the other end of the spectrum, too few products might make customers think you are going out of business and they won’t spend as long in store browsing.
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An RPM study of leading specialty retailers reveals five concepts that can be applied to any retail proposition.
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| The right business advice |
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Around this time of the year most businesses will have received their annual financial statements from their accountant. Unfortunately many accountants’ reports are of little or no use for strategic planning, and seem to be focused only on meeting the requirements of the IRD.
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| POS data entry best-practice recommendations |
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With a common point-of-sale system implemented throughout a retail group it is a important to have consistent data management practices. Here are some suggestions.
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DISCLAIMER:
The author reserves the right not to be responsible for the topicality,
correctness, completeness or quality of the information provided. Liability
claims regarding damage caused by the use of any information provided, including any kind of
information which is incomplete or incorrect, will therefore be rejected.
COPYRIGHT:
Feel free to publish or reproduce the trend information found in this newsletter
and on our website, on the condition that RPM is properly credited (and linked
to) as the source, including the URL www.rpmretail.com
If you're a journalist working on a related article, email john.saywell@rpmretail.com for additional quotes and insights.
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CONTACT DETAILS:
RPM Retail Ltd., Level 2, 205 Manchester St, Christchurch, New Zealand
Phone : +64 3 377 7619 Fax: +64 3 377 7618
Web: www.rpmretail.com Email address: info@rpmretail.com |
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