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What Not To Do When You Lose A Customer

lost a sale sellingA business owner’s worst nightmare is learning they’ve lost their best customer.

Many times you don’t get closure when a customer quits your business. You don’t  learn why your customer didn’t come back.

But what happens when you do know why you lost a customer?

I was speaking in Portugal this past week. I was  taking a tour of the 300-year-old Taylor’s Port Wine Facility when the guide told me about the day they lost their best customer because he would no longer pay their price. Continue reading What Not To Do When You Lose A Customer »

How To Reduce Restaurant Turnover and Increase Employee Retention

server restaurant turnoverIn a recent RetailWire discussion, Ralph Jacobson commented as devils advocate, “Do I want my low-margin, high-cost business to be driven by an ever-increasing average hourly wage rate by keeping people longer-term and being forced to pay them more because they’ve worked for me longer when labor is my largest controllable expense, beyond the COGS? Turnover may not always be a bad thing.”

Many restaurants are averaging a turnover rate of 60%. Here are several reasons why turnover happens:

The attitude many of these employees bring to the job is one factor. Servers often feel the job is a step down from other jobs and therefore hate what they are doing.  Others initially believe that it’s an easy job but don’t get the connection that good service produces better tips. So when easy money (especially from tips) doesn’t appear, they leave.

And of course, we know there is nothing easy at all about being a server… Continue reading How To Reduce Restaurant Turnover and Increase Employee Retention »

How To Improve Your Cash Flow By Balancing Your Merchandise

retailer cash flow merchandise

You know within an employee’s first 30 days whether they can do the job, right?

The biggest drain on a retailers’ cash flow can also be seen within the first 30 days …

It’s your merchandise.

Click to watch the video above

Here are five tips to help your cash flow by managing your merchandise.

#1 make sure your merchandise arrives during the proper season.

That means you take delivery just prior to the season. Toy stores often tell me, It will sell Christmas. That’s fine, but you don’t want your money sitting on the floor for nine months waiting to be returned to your wallet.

#2 Predict it.

Know a sales target for how many you want to sell within those first 30 days.

Is it 20% sell through? 40%? Decide before you place a large order of a product what the critical mass has to be for it to be considered a winner.

#3 Return it.

Tell your sales representative that if it doesn’t sell enough in the first 30 days you’re going to want to return it and get a refund or credit.

Most well hem and haw but don’t let that deter you. They are there to be a partner in your success.

#4 Don’t go by units sold to determine sales.

Employee purchases often skew your sales reports for new items resulting in unprofitable re-orders.

#5 Clear out the merchandise.

If it isn’t selling during those first 30 days. If the rep won’t take it back, you need to quickly clear it out.  Slow moving merchandise is the killer to your cash flow.

Use these tips to keep your merchandise moving and your cash flow positive.






Retail Sales Training About Assumptions Of Customers

retail sales training assumptions

 

Are you concerned you’re not making as many sales in your store as you once did?

Are you attracting customers who tell you, “What a beautiful store you have“? as they walk out the door empty-handed?

A lot of times the assumptions we make about customers could easily be killing your retail sales.

We’ve all done it.

A guy comes in dressed in a three-piece suit, or a woman arrives in an expensive dress or she’s got a beautiful necklace on maybe she has rock on her finger that could sink a boat – it doesn’t matter.  You’ve judged them.

How about the high school girl that walks in looking kinda dorky? How about the construction worker still in uniform with dirty boots? Did you also made a judgment about them?

You bet you did!

The problem is that a lot under assumptions we make are wrong.

Watch the video above to learn a fun game you can do with your crew to challenge the assumptions they – and we all make – about strangers.

Once you deal with the assumptions employees are making about your customer, they can really be a human being greeting another human.

From that, you can increase your retail sales.

Again, watch the video.

Hey Retailers! Nordstrom’s Customer Service Problems Are Yours Too

retail sales trainingI’m a Nordstrom shopper. Have been since I worked at South Coast Plaza in Southern California thirty years ago.

I’ve never used their personal shoppers. I’ve never gotten flowers from an associate as a thank you. I’ve never had someone go out of their way to pick up a shirt for me the next day.

But I have come to trust their curated selection of brands so much that anytime I’m speaking where they are, I’ve gone out of my way to visit one.

Three weeks ago I stopped at their flagship store in Seattle. As I was looking around a designer collection, two employees were busy talking to each other while another was checking their smartphone. Continue reading Hey Retailers! Nordstrom’s Customer Service Problems Are Yours Too »