How technology is changing the way retailers interact with shoppers
I.T. people love "new" for the sake of "new". They also love catchphrases and acronyms. Often, their obsessions distract them from practical life. Take the obsession with the Internet of Things for...
View ArticleAre you backing up your data?
Backing up data used to be a time-consuming, complicated chore. However, this is no longer the case. It still remains an important activity, which you cannot find an excuse not to do anymore. As well...
View ArticleNever allow more than 30% for a category
Does your business rely on too much traffic, gross profit or revenue for a single product category? By too much I mean more than 30%. 30% is a figure I have come up with, based on years of working with...
View ArticleEncourage your employees to be themselves
“Good one hi good day so far thanks $4.50 there you go good one.” That’s word for word what I experienced from someone serving in a Canberra convenience store recently. There were no pauses, no obvious...
View ArticleData-driven evidence trumps your stories every time
All key business decisions need to be based on existing data. I was talking with a newsagent recently and they said a particular range of greeting cards was not working for them. Upon checking their...
View ArticleIntroduce yourself to someone you don’t know
The most valuable shoppers in your business are those who have not shopped with you previously, those who rarely step into your business. Think about how to reach those people. The best place to start...
View ArticleMake every day your pay day
There was a time when convenience store owners could rely on selling their business for a handsome increase on the price they paid thereby providing a good pay day. These days are over. Today, the best...
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Be a specialty retailer
Newsagency businesses are your quintessential independent specialty retailer, but how much of a specialty retailer are you? What do you offer in your business that is specialty or unique? What do you...
View ArticleWant to make a change? Trust yourself
I had a conversation with a newsagent last week and they were worried about a decision, which they thought was right for their business but their accountant disagreed. The accountant is in another...
View ArticleKnow your labour cost by day
The first place I look when helping a retailer address cash-flow issues in the business is the roster. Too often the roster is either done for convenience or for laziness: convenience to reduce owner...
View ArticleHow to boost your connection with your community
Our local community is important to us and we are important to our local community. In a survey of several years ago, the local community connection was considered the most important USP of independent...
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How many magazine titles should you be stocking?
How many magazine titles are available in your store? Are you stocking the right range? There is a great opportunity for retailers to make siginificant profit in the category, when it's done right....
View ArticleHow to run a competition on social media
Facebook is proving to be the best competition platform I have used in years. Entry is easy as is picking a winner and letting everyone know who won. It is especially useful for attracting new...
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Embrace new opportunities: Lessons from Home & Gift Harrogate
Home & Gift Harrogate a month ago was busy. Across halls and pavilions, gift and homewares retailers packed stands looking at products to stock through the Autumn and Winter. Suppliers offered...
View ArticleWhat’s the right amount of messages you should have in your window?
Stand outside your store and count how many different messages you are pitching from the fascia to posters to window displays to signs to what you can see from out there into the business. Write each...
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Retail loyalty insight: How a $2.00 discount voucher resulted in purchases of...
I want to share with you a true story of what happened recently in my own newsagency. It is a story of how a small everyday purchase led to something bigger and how this happened as a result of...
View ArticleMark Fletcher Management Tip: Some retailers make stealing from them too easy
I have had three retailers call me this week about employee theft. Two were hit by employees they trusted, who worked hard at covering their tracks. The third newsagent has no regard for cash...
View ArticleFind trends before they find you
If a supplier is pitching a trend to you it is often too late to achieve the maximum potential from the trend as the supplier will be pitching to other retailers as well. The best trend to discover are...
View ArticleHave you set your goals for the year ahead?
With the rush of the Christmas trade and festive period behind us January is a great time to consider where you want to take your business next. In effect, make your business related resolutions for...
View ArticleHaving a theft policy could save you thousands
Two shocking reports of employee theft that brought convenience retailers close to bankruptcy have come to our attention in the last couple of weeks. In both cases the criminal actions of just one...
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