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Retail Consultant Advice: Raise your prices. Here’s how…

Wow, yesterday’s post “It’s Time To Raise Your Prices – Even Though Everyone Will Tell You Not To” got a lot of attention; just like when I first raised this issue during an interview. This is the follow-up to both…

In a recent New York Times article, JC Penney shared that they previously would mark up their goods 4 times cost and then relied on almost 600 promotions per year to sell it. Clearly that didn’t work (did it ever?) Continue reading Retail Consultant Advice: Raise your prices. Here’s how… »

It’s Time To Raise Your Prices – Though Everyone Will Tell You Not To

how to raise pricesRecently I read a quote from an analyst for Edward Jones who said, “I think we’ve reached the wall in terms of raising prices. Consumers can’t take it any more.”

Really?

They’ve stopped putting gas in their cars, supersizing their “value meals” and foregoing makeup?

Of course not.

Are they asking for “What’s on sale” or for the “deal?” Continue reading It’s Time To Raise Your Prices – Though Everyone Will Tell You Not To »

7 Things You Must Do To Develop and Train Teenage Employees

retail sales consultantYesterday I shared an important story on the teenage mind, how there are two different neural and psychological systems that interact to turn children into adults. Over the past generation, the developmental timing of these two systems has changed and researchers have discovered that experience is what shapes the brain, not schooling.

As long as they are given real responsibilities with a mentor, teenagers are able to mitigate the effects of the onset of puberty at a younger age and go on to become successful adults.

I interviewed Scott Reed, who has owned his successful Chick-Fil-A franchise for 23 years in Marietta, GA for this post. His restaurant is known across town for its immaculate interior and manicured exterior.  Scott’s outlook about who he hires and where he focuses his training time provides clues for any retailer working with teenagers. Continue reading 7 Things You Must Do To Develop and Train Teenage Employees »

Teenagers Have Changed: Here’s What It Will Take For Them To Succeed In Retail

In the Wall Street Journal article, What’s Wrong With the Teenage Mind? Alison Gopnik takes an in-depth look at two trends affecting the maturation of teenagers.

She has found puberty is kicking in earlier and earlier, and that teenagers are taking on adult roles later and later.

She says in part, “In the past, to become a good gatherer or hunter, cook or caregiver, you would actually practice gathering, hunting, cooking and taking care of children all through middle childhood and early adolescence.

But you’d do all that under expert adult supervision and in the protected world of childhood, where you would have experienced the impact of your inevitable failures and learned from them.” Continue reading Teenagers Have Changed: Here’s What It Will Take For Them To Succeed In Retail »

How To Use iPhone4 – This Changes Everything About Selling Your Products

Let me just say it out-loud – if you sell anything to anyone – you are an idiot (is that too strong?) if you don’t run out and get an iPhone4 today, right now. And no, they didn’t pay me to say that.

Don’t care if you already have a Verizon account. Don’t care if you use a Blackberry. Don’t care if you own stock in Microsoft.

And the higher the price of the items you sell, the stupider you are if you don’t get it NOW. Ok, I’m a bit opinionated on these. Stay with me…

Forget all of the other bells and whistles. You have the ability in the palm of your hand to make a personal introduction, followup or product video in minutes using the iMovie app. Easily, professionally and you can email them right away.

Here are four I just created.

One for a nursery talking about their fresh tomatoes for the day:

iPhone4 Example for a Farm Stand with Bob Phibbs, the Retail Doctor®

One for a Buick Dealer following up for a customer:

iPhone4 Example For Buick by Bob Phibbs, the Retail Doctor®

One for any salesperson who has to followup after speaking on the phone:

iPhone4 Example Following Up with Bob Phibbs, the Retail Doctor®

Last one for a landscaper or professional Gardener talking to a client about a problem;

iPhone4 Example Landscaper / Gardener with Bob Phibbs, the Retail Doctor®

Do you see how impressive this looks? How immediate? How out of the ordinary, knock your socks off fantastic this is?

I’ve done testimonial videos for years with my Flip camera. Yes it was convenient but NOTHING like this. I can add titles, transitions and music quickly and easily.

Imagine the look on your customer’s face when it is you talking to them directly right in front of their home before you go back to the office?

Sure I could get hung up with a few clipped words or a few transitions. But the door has opened for anyone to quickly and easily make youself standout.

How could you use it in your business? Think about it and put in the comments below please.

Oh yeah, and don’t worry about your competition finding out, they’ll still be hung-up on the cost of the data plan as you steal their customers right and left!

For more ways to make your business standout, check my new book from Wiley & Sons, The Retail Doctor’s Guide to Growing Your Business.

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