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The Best Advice For Retailers: Start Buying Into Your Business

The Best Advice For Retailers: Start Buying Into Your Business


Hi, Lou Mosca,
American Management Services, Here in Orlando, FL. Today we’re going to talk to you about Retailers,
and most retailers just complain, and complain, and complain,
“They need more floor traffic,”
“They need more people coming through the door,”
“They need more opportunities,”
“They need more people coming in, willing to shop and purchase in their environments, in their store.” Going to tell you that of course, that’s important. If you don’t have the bodies, you got nothing. But between social media, internet buying,
what goes on with the big-box stores, your competition is intense. So, I’m going to challenge you to think about
a couple of things: You pay rent for seven days a week, are you
open seven days a week? You pay rent for twenty-four/seven, how many
hours are you actually open, and servicing the public. If you’re spending money on marketing, are
you measuring the benefit of that marketing dollars? Can you quantify what you’re getting for the
bucks? Are you extraordinarily active on social media? With clubs, with buying arrangements that
you can offer your people. Every square-foot in your store should be
measured. A gentlemen I dealt with many years ago, called
it “Square-Foot to Profits.” So, every square-foot in your store should
be measured. Is that square-foot making money for you? And, inventory turns, SHRINK, there’s so many
things you have to deal with, but for you to be a successful retailer, you have to attack
and conquer every aspect of your business. Happy selling. Don’t be afraid. There’s a lot of things you can do to help
your business grow. If you can’t figure that out, find a professional
who will help you with it. Have a great day.

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