10 Obvious things every retailer should know!
1. Happy employees are the linchpin for creating loyal customers
2. It’s essential you know who your best customers are and treat them as your best customers
3. All customers are not created equal but they all count
4. Having the right inventory at the right time and at the right price is a key to a retailer’s success
5. If you’re ignoring millenials your putting your growth in jeopardy
6. The cost of retaining an existing customer is 3x-5x cheaper then acquiring a new customer
7. 75% of customers when surveyed said they spent more in stores that provide good service
8. Upgrade your technology to embrace the digital customer who shops 24/7 – if you’re not communication with them digitally your competition is.
9. Love the business you’re in but don’t fall in love with your processes and procedures. Evaluate, change and adapt.
10. Retailer ware too many hats to be good at everything. Focus on what you’re good at and delegate the rest