How to know when you can afford to hire a new employee
There’s always work to be done. Your employees can’t pay attention to all your customers. You have to do the tasks that you weren’t supposed to do. And you don’t have time to work on more important tasks, like strategy, planning, and marketing. Is it time to hire a new employee? And can you afford […]
People judge your business by the look of your customers
If you own a store, you’ve noticed this. When the store has no customers inside, passing clients on the street, seem to resist to enter. But then, when customers start to come in, people outside are attracted, like a magnet. The more customers the store has, the more people want to get in. But there’s […]
How to cross sell in retail
One of the ways to increase sales without increasing costs is to cross sell. Cross sell is selling extra products and services to customers while they are buying other products or services. A customers decides to buy product A. You tell him: How about also buying product B? With this, you’ll be able to increase […]
Case Study: A gift voucher
In certain cases, a gift voucher can be a win / win scenario. One of my clients, in retail consulting, is a small retail business that belongs to my family, so I can talk about the tests we make in the stores without professional ethics issues. The stores sell mainly to foreign tourists. We sell […]
My life in Fashion Retail
Twenty years have passed since I started my career in retailing. It all started when I finished college. I had just finished my degree in Economics and was starting my degree in Management. My father asked me if I could give some help in our family stores and I accepted. My family had been in […]
The future of retail
The future is uncertain by nature. Nobody really can predict the future. At least I can’t (I wish I could). I am not going to predict the unknown-unknown – things that are so unexpected that nobody can predict – but I am going to talk about certain trends that are already occurring. And there are […]
How to create a store business plan
What is a business plan? A business plan is a formal report of a business. It contains the goals, the strategy, the tactics, and essentially, it tells you how you’re going to accomplish the goals. Think of a business plan like this. Imagine I ask you to write what are your goals, what resources you […]