The Retail Customer Experience: A Light-Hearted Perspective

Were Sleeve Garters Actually a 19th Century Retail Strategy? Long ago a clothing retailer had a plan. First, find some customers who are not really sensitive to customer experience issues e.g., frontier and turn-of-the-century men such as saloon keepers, shop keepers, gamblers, barbers, and the like who, believe it or not, back then spent most…

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What is Active Planning?

An Active Planning process is a living and breathing planning process. It embodies the ability to bring an organization together to plan and execute as one.  Many companies I deal with employ a ‘Static Planning’ process, which I often call ‘Set-and-forget planning’. Static planning is characterized by long planning cycles, siloed contributions, and limited strategic…

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Historical Assortment Analysis Sets you up for Success

Before you can begin to create a product assortment for the next season, be sure to utilize past performance to learn from “wins”, while also considering “misses”. Recapping historical sales and margin informs you about what you are up against compared to last year. Most likely the historical is what your financial plans are based…

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3 Ways to Improve Inventory Management

Imagine you’re at a store and you absolutely love a certain shirt. You search through the different sizes and you can’t seem to find your size. Psychologically, this may turn you away from the shirt and cause you to leave the store. This is the inventory management business challenge wholesalers and retailers deal with on…

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Effective Retail Business Plan: A Case Study

Whether planning for a business in the retail industry or another industry, it is essential to have a business plan in place. When determining how much information to include and what format to use for your retail business plan, you will want to determine the purpose of your business plan to drive those decisions. In…

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