Blog Archives

Retailers are in the driver's seat. Don't squander your clout!

7/27/2020

Yes, we know. Owning a retail business these days is one flexibility test after another. And there are no one-size-fits-all solutions.

In the United States, one of the most widespread impacts of the virus is uncertainty. With no end in sight. It is the virus that is in charge. As the president of Alaska Airlines noted, "We don't know what the future looks like."*

But the fact remains, whomever is selling to the ultimate consumer has leverage. Might that be you?

Okay, we're ready. So...where are the customers?!

7/20/2020

So, say you have re-opened your stores. Then what? Did the customers come back?

Or, were many of those who did show up just there to say "Hello!" And "We missed you!", but not to buy? Sigh.

We are not surprised. And here's why.

Any customer must satisfy three key elements in order for a transaction to occur. Two out of three will not do; all three must be met.

The Digital Clock Is Ticking. Time To Catch Up!

7/13/2020

For retailers, the uncertainties caused by the impacts of the Covid-19 pandemic are unrelenting.

"'It seems that social distancing mandates won’t be the only thing keeping crowds down at businesses moving forward,' said Ted Rossman, industry analyst at CreditCards.com. 'A significant number of Americans plan to stay away on their own accord.'” 1

So, what should we do with this additional "found time," waiting for the customers? That's a question we CAN answer!

As you are sorting out how best to reopen, we encourage you to be bold about embracing technology. Not just a POS system upgrade with better e-commerce capability. There's much more that warrants your attention.

There's a whole alphabet of resources out there, already being embraced by many: ML (machine learning); AI (artificial intelligence); AR (augmented reality), QR (Quick Response matrix barcodes). All enabling chatbots, robots, digital displays and much else to become "smarter" and more applicable.

The "Whack-a-Mole" Uncertainties

7/6/2020

Don't you feel that we're in a period of heightened uncertainty?

Whether it's the economy, or unemployment, or grocery prices, or sports resuming, or the weather, or racial tensions, or the costs of everything, or the questions coming at us from family and employees that we cannot answer, everything seems uncertain, doesn't it? And there is no end in sight.

But...we as retailers can be leaders in our communities and in our daily lives. We have the opportunity to tamp down some of those uncertainties.

Look at this sign a local merchant posted.

Retailers are in the driver's seat. Don't squander your clout!

Okay, we're ready. So...where are the customers?!

The Digital Clock Is Ticking. Time To Catch Up!

The "Whack-a-Mole" Uncertainties

Tips, Tactics & Insights from Retail Strategists