myRetailer.ca

Keep Loyal Customers Loyal by Being Dependable and Stocking Essential Items

From Flickr - avilon_music

Become dependable to your customers in the services and products you offer and you’ll go a long way to keep your customers loyal to your company.

Let me illustrate my point.

A few weeks ago I needed a car wash and drove to the local car wash I’ve gone to for years. I parked the truck, walked inside to purchase my car wash only to find out that they ran out of soap for the touchless car wash. Can you imagine? The entire car wash shut down, because they ran out of soap? As I walked out frustrated, I was thinking to myself; “How can you run out of soap at a car wash? If it was my car wash, I’d always make sure that I have at least a month’s supply at all times. Wow much can it cost to inventory soap, especially if you run a busy car wash?!” (more…)

Plan for the year with a renewed sense of optimism

Are we out of this recession? Most days, it honestly does not feel like it. However, being down at the Americas Mart Atlanta (North America’s largest gift trade show) I certainly have a renewed sense of optimism.

Compared to last year this time, the energy is greater, people are more excited, the vendors are displaying more new items and the general sense of optimism is much greater. It’s very refreshing to see. It’s almost as if everyone took last year to regroup, and now they’re ready to move forward.

For us, it is affecting our buying as well. This time last year, we were all about reducing purchases, reducing inventory and conserving cash. Now for this coming year, we’re back to looking for opportunities to buy more new products and grow our business.

I know we’re excited for the coming year. Cheers to a successful 2010!

Refine your purchasing strategy to buy products that sell

I recently had a phone conversation with a large retailer from BC. We were discussing purchasing strategies and the upcoming trade shows that we were both attending.

He told me something that he learned 30 years ago and has always stuck with him. He said; “You have to work hard to find really great deals.” He went on to say; “When I find an amazing deal, in my mind the product is already sold.”

For those of you travelling to trade shows, or reviewing your vendor buying programs, make sure you look for those great deals. Find the deals and the sales will follow!