Blog Posts

It's Not Just the Clocks That Changed...

3/28/2022

"Retail is a mirror of society."

Yes, Daylight Savings began a couple weeks ago. But it's not just the time on the clocks that changed; the times themselves have substantially changed.

Followers of The ROI has heard us assert many times that "Retail is a mirror of society." As we reflect on the first quarter of 2022, we are struck by how much has changed in just those three months. And retailers must adapt – yes, again! – to this rapidly changing environment.

Think about it. Consider the assumptions you made just a few months ago, in late December and early January about 2022.

It's Award Season. And your winners are...?

3/21/2022

"And the award goes to...."

No, Not About People This Time
While we typically think of people as recipients of recognition – and we trust you already are doing that, right? – this is a different challenge.

Ready? Here we go! Of your merchandise, which products are Award Winners?!

Silent – yet engaging – addition to your sales team?

3/14/2022

Ready to add a bit more fun to your store, AND generate incremental sales? Consider this friendly Tortoise, a "tap to pay mobile smart store."

Here's how it works. You choose items to sell that can be boxed, and held at room temperature. Maybe it's a dozen cookies. Or a book. Coffee mugs? Mobile phone rechargers. Whatever makes sense for your store. (And apparently, higher priced goods do especially well.)

Increased Consumer Spending. By Whom? For What??

3/7/2022

Spring is in the air. More places are lifting Covid restrictions. Daylight savings time starts this coming Sunday, extending the evening hours.

And, for the first time in years, we can expect to celebrate Easter, Mother's Day, Father's Day, graduations, weddings with few restrictions. All promise a renewed air of celebration!

There is widespread anticipation that consumer spending will be very strong. But...spending on what? Before you place all those merchandise orders, consider this.

We expect that the second quarter burst of consumer spending will be weighted towards services more than consumer goods. A big surprise for many.

Price Elasticity? Unleash Your Inner Merchant!

2/28/2022

"Never miss the opportunities of a crisis."

Without a doubt, these continue to be unprecedented times for managing a retail business. The Disruption with a capital D continues, from the pandemic to supply chain challenges, employee issues, worldwide inflation, interest rate increases, etc. And now, the global economy is in more turmoil due to the Ukraine invasion and the resulting sanctions against Russia.

Lots of challenges for business owners as they wrestle with rising costs, aren't there?

But for independent retailers, there exists one glorious opportunity: price elasticity. Yes, raising prices. A whole new ball game for many independent retailers.

The Fatigue of Uncertainty

2/22/2022

Have you noticed? That persisting Plague of Uncertainty that keeps hanging around?

The troubling issues in Ukraine and the potential repercussions.
Inflation now includes an even greater hike in oil and gasoline prices because of the Ukraine situation.
Unresolved supply chain issues, particularly impacting smaller businesses with less clout.
Employee unrest, union organizing, the "Great Resignation."
Stock market declines, which seem to foster even more talk of unrest and uncertainty.
Not to mention the oft-extended Farewell Tour of Covid and The Variants.

And amidst all this relentless uncertainty, you still have a business to run, employees to motivate, customers to satisfy, vendors to deal with, creditors to pay, etc, etc.

Here are some ideas on how to approach that.

What's the Score? How to Measure Your Financial Strength

2/14/2022

By now, you have your year-end financials for 2021. Remember, it always comes with a Balance Sheet!

Whether sales are up, down, or sideways, the financial strength – and staying power – of every business is shown on its Balance Sheet. And revealed by its Balance Sheet ratios.

Send a Love Note – To Your Customers!

2/7/2022

Just one week until Valentine's Day! Are you feeling the love yet?

Tumult, rancor and uncertainty abound in the day's news.
Big storms are pounding large areas.
The pandemic is lingering.

What better time to send a love note to your customers?

That's right. A Valentine. Just a Valentine. No strings attached! Show your love!

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