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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 »

Is It Time To Start Charging Customers For Browsing?

customer serviceI’ve worked in retail for most of my life.

That includes my first job as a janitor, then a regional manager all the way up to corporate VP and now as the Retail Doctor.

Throughout my career I’ve always heard merchants saying, “They come into my store and get all the information, and then go somewhere else to buy it.”

As a retail consultant, those responses used to infuriate me; it sounded like a losers limp.  I felt it was an excuse for them not doing better because they miraculously “knew” their customers were at a competitor’s. Continue reading Is It Time To Start Charging Customers For Browsing? »

Selling Skills: Is the Need to Be Right Crippling Your Retail Sales?

Retail Sales

I was exiting the Albany Airport parking lot, returning from a great weekend of retail sales training, when I noticed the three EZ pass exit lanes were closed, so I had to go to a cashier.

I drove up, put my ticket in the automated machine and the EZ pass light didn’t light up. The guy in the booth said, $36.00.  I replied, “What about my EZ pass?”

A girl in the booth behind him piped up, “You don’t have one.”

As I reached to get it I said, “That’s ridiculous, of course…” But she cut me off. “Then you don’t have any money in it.” That really pissed me off ‘cause I knew Continue reading Selling Skills: Is the Need to Be Right Crippling Your Retail Sales? »

Benjamin Moore Paint Grabs Market Share In Unlikely Places

Others may cover the world but who thought to cover the mall?

I had a couple of hours before I was to speak at the Providence, RI Convention Center one night when the client informed me there was a mall on the other side of the Westin.  That’s all I needed.

As I strolled the Providence Place Mall, I noted the abundance of very high-end prosperous retailers on three levels. I was just about done when I spotted what I thought was a cosmetics counter. Continue reading Benjamin Moore Paint Grabs Market Share In Unlikely Places »

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