A Shot in the Dark — Weekly Retail Tidbits #273
“Just because it didn’t work doesn’t mean it was the wrong choice.
The world is full of probabilities, not certainties.
Find a game where the probabilities favor you and keep taking shots.”
— James Clear, author of Atomic Habits
Need a last-minute Halloween costume? I have one for you!
On Halloween a few years ago, my husband put my costume together (as usual). I wore black with a shot glass tied around my neck as a necklace.
Can you guess? I was a “shot in the dark.”
Sometimes it can feel like taking a shot in the dark when making buying decisions. Every buy involves probabilities – not certainties.
Poker players even have a word for judging a decision only by how it turned out: “resulting.” Annie Duke, a former professional poker player, writes about it in her book Thinking in Bets. So if something you bought didn’t sell, that doesn’t automatically make it a bad buy. Think about what you knew when you bought it.
You probably use some combination of the data you have, your intuition, experience and research to help you.
What do you find yourself using the most?
If it is data – you might want to make sure you are taking enough different shots. Try some new merchandise. Don’t only stick with what is working. Sure – keep best sellers – but venture out to find more!
If you use mainly intuition and experience – you might try looking at your data more and making sure you are staying stocked in a timely manner with what is selling well.
Between now and Christmas, your last-minute shoppers will buy what is on your shelves. Keep your best sellers stocked, and take a shot on something new!
Retail for me is the most fun game in the world. I love the opportunity to play on your team to help you win. Sending a huge thanks to you retail partners. You are a joy!
xoxo,
❤️ AmyFay
Technology Tip
Two Locks to Add This Week
Reuters recently reported that one hacker broke into more than 100 companies’ websites, with AI agents doing much of the work. AI agents are native to the internet, so they’re very good at hacking it – and very good at protecting it. Keep security top of mind at all times. The first lock is two-step sign-in, everywhere it’s offered, so a stolen password alone isn’t enough to get in. Start with what sits underneath everything else: your email, your website host and the system behind your register.
The second lock is a family password. In August I wrote about a code word for your store; your family needs its own. Pick a secret word only you all know, and never share it. Anyone who calls sounding like family and needing help has to say it. The FBI recommends this, because criminals can now use AI to copy a loved one’s voice.
3 Tango Tidbits
Get Ready for November and December
Meghan Browne Style — Christmas Earrings Are Here
Meghan helps your customers style the perfect look for every holiday party. Her Christmas earrings make easy gifts too, so get them out before the rush!
LINNEA — Don’t Run Out of These Five
These five year-round scents are typically our best sellers, so make sure you’re stocked: Cashmere, Sea Salt and Lavender Rosemary from the Classic collection, and Crushed Mint and Heirloom Tomato from Botanik. LINNEA has done its last pour on most of the holiday collection and some pieces are already sold out, so if you’re short on holiday, order now.
Compendium — A Card for Every Gift
Every gift your customers buy from you still needs a card, so help them finish it right there in your store. Love Muchly and Positively Green both have holiday cards in packs of 6.
“100 percent of the shots you don’t take don’t go in the net.”
— Wayne Gretzky
| Shop Tango here → |
The Tango Showroom is open 10 to 4, Monday through Friday, at AmericasMart in Atlanta, Georgia. Come see us! 🌟
AmyFay Chandler
AmyFay Chandler started out as a teacher, then spent 15 years as an independent retailer. Along the way she bought for multiple stores, dabbled in wholesale with two lines of her own, and found her way to repping. Today she is a sales rep for the brands she represents. That view from every side of the table shapes Weekly Retail Tidbits, which she writes from Knoxville, Tennessee, to help local retailers feel connected and maybe see something they do every day in a new light.
Also from AmyFay
Two of the brands I represent run their D2C side through me, with brick-and-mortar partners prioritized at every step:
- Sweet Tree Jewelry — school-spirit polymer-clay earrings
- Caroline B Cook — children’s books (the Virtue Series, Church Kitty)
Wholesale questions? [email protected]
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