Nancy Georges is a retail strategist, with over 25 years experience in retail, marketing, strategic planning, wholesale, product development, customer service, training & manufacturing in a diverse range of retail environments & product categories, in Australia, Asia, USA and Europe.
Nancy also established Magnolia Solutions in 2008, in response to an increasing demand from retailers for marketing support. Working with retailers across all aspects of their business to increase profitability and give them the lifestyle they seek.
She is the ‘Retail Miss Fix It’ and regularly shares her business expertise through seminars and work shops, today she is sharing her Top 7 Tips for Retailers with us here on the blog.
Pencils and notepads at the ready…
1. Adopt a service culture / focus in your store – Make it easy to deal with you –
including:
a. Staff attitude, language and behavior
b. Product selection
c. Service process
d. Delivery on & offline
2. Become the Expert in your category, look outside your four walls:
a. What does your customer see?
b. What are other stores in your category doing?
c. What is the latest product in your category?
d. What is next?
e. What is going on internationally
3. Create ‘Theatre’ & a fun experience in-store:
a. Give the customer to get in their car, find parking, come into your store
4. Stop focusing on PRICE and SALE, it’s all about VALUE!
a. Using Sales to drive income is lazy retailing
b. It’s also not profitable
5. Review ALL pricing across your whole business – Australian retailers are now
competing with the world and now must adopt a VOLUME vs MARGIN pricing
model.
6. Constantly source new products (or suppliers if they are not innovating their
products) and Rationalise your supplier base, remove duplications; this will save time
and money.
7. Build Collaborative Relationships with suppliers, retailers and local neighbours:
a. Become savvy connectors with mutually beneficial outcomes
Check out more from Nancy on Magnolia Solutions website here
