sick enterprise Needs a Tonic Or How to Stay Fresh in the Biz

So your store has changed the window display and all the mannequins. Colour and seasonal decorations have spruced up the walls and display units. The new arrivals have been steamed and strategically placed throughout the store. The outdoor pots have been refreshed and the welcome mat is new.

But it's not only the merchandising that needs a new change - business practices - all aspects of business - need to be re-invigorated to stay healthy and profitable. business becomes stale! And that is often reflected in sales and in staff morale. If staff isn't expensed at all times, sales will decrease. What is the antidote? A tonic! agreeing to the dictionary, a tonic produces a sense of well-being; a medicine to cure the sick - to increase energy, condition and strength. Every business needs a tonic at times.

Checklist for sick retailers: List the things that are unhealthy in the business and then fix them:

Ailing staff -

First and foremost, re-energize your staff! A sluggish staff hurts sales and profits. Empower the staff. Improve morale. Many morale-boosting programs do duplicate duty and corollary in empowering staff also. Take the time to separate the reasons for low morale and address each issue. Your staff is worth the time and money. List ways to Improve staff morale, along with training courses, seminars, contests, parties, thank-yous, and promotions. And don't forget that change itself will stimulate the staff - staff meetings will encourage new ideas to seed and flourish.

Increase the extras in the back room: new coffee or espresso maker in the staff room; flowers on the counter (better yet - empower the staff to buy them); stock bottles of water in the fridge; coupons for dry-cleaning. Sometimes, it's the little things that count and make a difference. Does your staff make the daily schedule? Is the schedule somewhat flexible or totally rigid? Maybe a staff member would like a few hours off per month to watch his or her child play a sport after school. When you are flexible with a staff member, their loyalty and respect is returned. Your goal is to recreate a workplace environment that is the envy of the competition. Treat staff well, pay them fairly and consistently, and have fun. First and foremost, remember that a happy staff welcomes customers with a joy and passion that cannot be duplicated. Happy customers mean increased sales and profits.

Ailing merchandise/product -

Same old, same old! Customers are bored, staff is bored, and the buyer is bored. Translation - low sales. In today's competitive marketplace, trends change faster than the seasons and the store that doesn't keep pace with the latest trends, the latest fashions, and the top colours of the season will gradually see their bottom line erode. It takes a lot of time and endeavor to keep abreast of changes in the marketplace but it is a vital component of any business, fashion or not. Attend trade shows, extend buying trips to visit other competitive stores, hold focus groups of young and hip adults, watch Tv shows that cater to your target shop and take notice of advertising on Tv and the radio. Start to make notes throughout the season. Note what your target shop is wearing in the big cities and what market they are frequenting. scrutinize them at the counter.

What are they buying? Watch and learn. Take note of the stock shop and the business trends - what are the issues that are relevant? How can this facts transform your business? The savvy retailer ensures that they are aware of the trends in their business, and ensures that their store is stocked to reflect this. The customer will flock to any store that is setting the trends - not just fashion trends, but any stock trend. Make it your store's goal to be a trend-setter and the staff will love you for it. Employees want to work for a winning retailer and customers want to shop there, too.

Ailing stock displays -

Since we know that eighty percent of sales are driven by only twenty percent of our customers, then it makes sense that the customer who is a repeat customer (your favorite customer) wants to see excitement each and every visit to your store. Has your store invested in new fixtures and displays lately? Have you plan about re-designing your layout and totally changing the look or ambience of your store? How many years has it been since you've totally updated the look of the store? If more than seven years, it is time to re-invest in the "bones" of the store. If you are thinking of development changes, also reconsider that the "branding" of the store, the logo, the print material, the packaging, labels, etc. Must be reconsidered for an update. If you update the merchandise and the displays, then it makes sense that the containers should be updated also. If you are a small store, think about investing in the services of a merchandising expert. A new perspective can make a huge difference. Sometimes an "outsider" can move a display and sales increase immediately. An master can make adjustments to the flow of the layout and a once awkward layout becomes more efficient and convenient. Point of sales can increase because the cash counter was moved a few feet.

Change the window displays more often and customer traffic increases. Great lighting can make a world of difference. Add more lighting behind the counter and in the back of the store, and add accent lighting to major wall displays and stock displays will "pop". Add promotional posters (that have been enlarged) to the wall, and hang framed photos with black and white mattes to highlight the products and merchandise. Ask suppliers for free promotional materials and examine if their art branch can help you with produce ideas. Suppliers want to help you. Intelligent and innovative displays will increase sales and profits.

Ailing store policies -

Are you still stuck in the fifties? If your hours do not reflect the lifestyle of your customer, you are losing them every time a customer comes to your store and it is closed. Store hours should reflect the customer's needs, not the store owner's. Do you still offer a layaway plan? Are you aware that most market have dropped this service due to the rising costs of keeping merchandise for an indefinite period? Do you offer gift cards? Studies show that market that offer gift cards increase sales. Do you offer compassionate and flexible refunds? Most of the big box market offer full refunds, no questions asked. If you are losing business, you must re-consider your store refund policy.

Ailing marketing strategies -

Do you update your marketing plan on a every year basis, or do you just dust off last year's plan and re-use it? The savvy retailer is constantly updating its' marketing strategies and introducing new ideas, fun promotions, fun contests, parties, and Intelligent advertising plans. After the store's merchandise has been updated and the look of the store is renewed, then start spreading the news. Send out press releases and taste the media. Promote the store's new look with a fundraiser for your beloved charity. Send out postcards to your favorite customer list and have a party! After all, your store has something to celebrate!

New competition in town?

Be proactive, not reactive! As soon as you hear the news that a new competitor is advent to your town, get the tonic out! Plan a huge celebration of your new look, new merchandise, and newly motivated staff as soon as possible. Set the date of the celebration a week before the competition's grand opening. And ensure that the promotional activities continue well into the month. Since the competition will plan a grand opening, you might as well outsmart them. Remind your customers that you are a winning retailer.

Ailing Target shop -

Have you plan about who your customer is lately? Have you adapted to their maturing age? all evolves along with your business. What has your business evolved into lately? become aware of the statistics of your own business. Do you still have a essential ration of the market? Has it eroded? What changes have impacted your target market? Can you re-focus your business or diversify? Should you close the sick measure of your business and incorporate on a different market? Just remember that if your target shop changes, then your merchandise and marketing strategies must evolve also.

So the next time that you notice sales have decreased, ask yourself if the business needs a tonic. Great yet, don't wait for sales to decrease. Have monthly staff meetings and ask the constant question...how can we be better? How can we change? How can we re-energize?

So what's the tonic? Renew! Renew! Renew!

Re-energize your staff, add new merchandise, eliminate sick products, source new suppliers, add new markets, and re-new marketing strategies...one easy word...change! Alter, adapt, re- focus. Hang tulips or daffodils! Do things differently, and increase the condition and compel of the business.

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