Come and listen to Tim Radley speaking at the Retail Design Expo 2016 Olympia, London
Thursday, March 10th 2016, 16:00 – 16:40: Location: VM Workshop
Not just for VM… but absolutely for buyers, merchandisers, store operations, CEOs, commercial teams and anyone with a stake-holding in store commercial success.
No. 2 ““Be brave & act swiftly!”
Never was there an industry where fortunes literally favour the brave. In a promotionally driven market, sales reduction decisions are not for the faint hearted as the stakes rise higher with every turn of the retail seasons.
The objective of commercial retail is to sell as many units as possible at full margin and then to sell as many units as possible. The trick of course is knowing when to stick and when to twist in the game of unit sales and profit margin.
One thing always worth bearing in mind, in deed what should be emblazoned across the mind of every worthwhile sales or commercial director, is that margin means nothing, margin is totally theoretical until someone is prepared to put their hand into their pocket and pay the cash.
As every season progresses the foothills of optimism, the time to fight for sales, give way ultimately to the wastelands of SALE and the rudimentary exercise of generating cash. The key to commercial success lays in the hinterlands of mid-season where the battle for margin takes place with the brutality of price reduction and the skilful subtlety of a wide variety of other promotional mechanics.
To be armed with planning and knowledge is essential to survival. Teasing the takings though enticing activities helps to drive sales at healthy margin, but in many ways the key to an ultimately profitable season or not lays in the brave decisions to cut and burn, lay waste to the poor sellers and yesterday’s heroes, making still a meaningful margin in a manipulators market.
The awful alternative for those without the nerve to take such decisive but essential actions is to consign your collection to the mercy of the SALE scavengers leaving only the bare bones of profit as the sands of margin slip through your fingers.
Be brave, cut hard but intelligently, and eradicate the error for margin.
Fortunes favours the brave…
“10 ways to make more money from your stores…!”
Whilst saving money in retail businesses is important, ultimately retail businesses survive by generating increased sales; from increasing market share; and in all cases from generating maximum profit from each sale. This workshop looks at ten areas across a variety of VM operations, and their integration with wider retail functions to deliver higher sales, increased margin, and higher efficiencies.
- “Be a ‘stickler’ for rules!”
- “Be brave & act swiftly!”
- “Profit from your promotions!”
- “Entice just one more visit!”
- “Never look down on 10{9a7291a7292e83c5148384adada0c82317c2655f4bcb859b5345564a4c272287}!”
- “Put your money where your mouth is”
- “Make more from less!”
- “Return to investment!”
- “Add Value! Be special!”
- “Be obsessed about ‘ROS’”
Be there…be brave…!
Come and listen to Tim Radley speaking at the Retail Design Expo 2016 Olympia, London
Thursday, March 10th 2016, 16:00 – 16:40: Location: VM Workshop
Not just for VM… but absolutely for buyers, merchandisers, store operations, CEOs, commercial teams and anyone with a stake-holding in store commercial success.