A Friday note from someone who’s been where you are. Every Friday morning since August 2021 — a story from the shop floor, and a point you can actually use.
“Strategy is a better plan.It’s the hard work of choosing what to do today to make tomorrow better.” — Seth Godin, This is Strategy Back in my retailer days I thought Christmas meant I needed to carry a bunch of Christmas stuff – ornaments, frames, towels – all the things. I would start getting freaked…
“…the generous act of helping someone solve a problem.” — Seth Godin’s definition of marketing Two kinds of marketing -by Seth Godin from his published calendar Friday, March 22, 2024 “There’s the kind that no one can possibly like. The pop-ups, pop-unders, high-pressure, track-your-private-data, scammy, interruptive, overpriced, overhyped, under-designed, selfish nonsense that some people engage…
“Design is not just what it looks like and feels like.Design is how it works.” — Steve Jobs Last week I was in a store in a tiny Kentucky town that carries almost every line I represent. The merchandising is beautiful; however, they asked me several times how they could improve. My brain was at…
“The real cost of any purchase isn’t the actual dollar amountbut the opportunity cost,what you could have done with that moneyif you invested it elsewhere.” — Charlie Munger As she priced items as fast as she possibly could, all she could think about was everything else she could have been doing. She burst out in…
“Success is dependent upon the glands – sweat glands.” — Zig Ziglar Last summer I started regularly working out with weights. I would go with my husband to the gym and think to myself, “Ok, this is not that hard.” My simple goal is to have decently strong muscles and bones in 20+ years. A…
“We made too much.” — Lululemon One of your retail colleagues in Tennessee is distressed about a large amount of jewelry she has in stock that has completely stopped selling. She emailed with me this week to see if I had any ideas about what to do. She has had it on sale for a…
“Scared money never wins.” —my husband during a family game My parents started the annual tradition of a 1 week family vacation years ago when there were a lot fewer of us. (I am the eldest of 5.) As our family grew, some of us started playing (family friendly) poker together after we tucked our…
More customers stopped for 24 jams, but 6 jams sold six times more. Choice overload is real — know why you carry what you do, and share it.
Taste is subjective. Data is objective. The winning recipe for retail is around 40% taste and 60% data.
A little pricing psychology: $0 is better than ‘free,’ and 119 is charm pricing while 125 is rounded. Charm is better.