Retail Notes
Just some notes here while I just think of what I am going to write about in my next article which will be about Advance Auto Parts, a auto retailer who hasn't been doing well and from what I have read about them they are about to close a lot of their stores while cutting a whole lot of jobs in the process. But right now I want to try and reflect on what happened today at the store or my work area. What happened was that I sold a whole lot of gas and then sold a lot of tobacco products.
But what really surprised me was the amount of washer fluid we sold today while at the same had a female customer buy whole bundles of firewood and maybe some washer fluid but mostly firewood. But other than that it was pretty quiet with no sale in sight with those new items that we have had for a while while other fuel stations have sold their stuff. The coffee since that promotion we have had hasn't been selling too much neither has the popcorn which I thought would work well since most customers I thought were looking for cheap stuff.
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Cheap stuff I mean looking for popcorn for a certain price while other items were such as coffee hasn't been sold much. In fact sales haven't really changed for the worst or neither has it improve things for the business because with the popcorn customers are still buying popcorn in the movie theatres while with the coffee, most customers are heading over for Starbucks to get their coffee even though the prices remain more expensive than what we sell in the store but hey I guess that we all get what we all pay for.
I will be back on Saturday, see you soon.
Author of "Turning Convenience Stores Into Cash Generating Monsters" &"Retail is Detail", and "Artificial Intelligence an action that appears human" ? Public Speaker ?
3 个月<There's a lot to talk about here. I wished more of my respondents would be so forthcoming as you .have. '' When I hear "a lot of" and "less than" It tells a a great deal about what's happening in your business. Analyzing your data is out of the capability of most retailers. First they don't have the data and secondly, they don't know what to do with it when try. I'll bet there was a particular time your past when things were great. But at some point business began to fall off. Am I right? The reason is simple. A gret deal of your customers may have swi;tched to buying over the Internet. Also, Carring cost of your excess stock Is eating your profits like a forest fire. What chance you have of surviving may improve in the new economy, but if your don't start' managing your inventory better, it may already be too late. The main reason customers continue to buy from local Mom and Pops is because they LOVE the people that make these stores possible. Do your employees LOVE them back? Here is some free advice. 1. Get rid of the stock that's not selling. 2. Use the extra space to expand your coffee bar. 3. Carry in stock only the inventory you can sell in the coming month or so. .