Singularly, this is the most common catchphrase we have heard or perhaps said over the past year.   It is a very large retail club that has sung the business blues.  Well congratulations!  If you are reading this article, still have your retail doors open for business and anticipate staying in business, the worst may be over for you. 

That being said, now is not the time to be a deer in the headlights, an ostrich with you heard in the sand, or run around like a chicken with your head cut off.   This is the time to quickly put a game plan together to head towards what may be your best opportunity to a financial payback for your strife over the past year or two.   Here are my ideas to consider  

1)      Have a summer clearance sale and raise some cash for new merchandise.  If you have been remerchandising old merchandise, cut your losses and move on.  Cash has always been king and even if it does not amount to too much, it is more than not having anything or having made an effort.  Remember that the first mark is always your best, so make it your goal to move it out not down again.  If you have some cash to spend, you will immediately feel better and perhaps a bit more in control.

2)      Make a plan, work the plan, and change the plan as the plan needs to change.  My motto has kept me healthy in business for many years.  Without a plan, I would feel misdirected and out of control of my own destiny.   On the flip side of not having any money, I always have to pose the question, “Do you have a plan to make money?”  If not, then it really is going to be a struggle to move away from the recession if you don’t know what you want to do, have measures for performance, and timelines for implementing ideas.  Your plans can always change as you and your business evolve.  The chances of succeeding are greater with effort than while stationary.

3)      Budget, budget, build a budget and stick to it.  If you have rent, payroll, and other cost of doing business, then you need to figure out how to pay for them with the goods you sell.  This usually means continuing to purchase merchandise to sell.  The old saying “you have to spend money to make money” is true.  Having a budget can assist you not spending more than you anticipate selling.  The economy has not changed the risk in business or the need to purchase goods,  it has only made it more important to put pencil to paper to facilitate purchasing.

4)      Fill in on successful merchandise!  It drives me to distraction when customers sell down quick moving items and then let a collection die by not buying back into that which sells and has sold quickly.  Further, it can cause me to hyperventilate when I hear, “Oh yeah, I know it sold well, but I haven’t had time to put together a reorder.”  Hello…you are missing out on sales!  Before you venture towards purchasing completely new items, don’t you think it is best to launch a percentage of purchasing towards what has already proven to be successful?

5)      Offer a wide assortment of price points.  In the lowest point of the recession I heard several retailers move the entire price structure of their business down in an effort to meet the spending habits of the recession.  The result was that they (these retailers) ended up selling roughly the same volume of merchandise, but the gross profit margins for their business were so low they struggled to pay for their overhead.  While you many think your customers cannot afford or will not pay for higher price point items, the opposite may be true.  Customers haven’t changed in wanting to spend their dollars wisely at all price levels, but also purchase things that have value to them.  You will need to have higher priced items to maintain healthy sales and margins.

6)      Timing is everything, so time your receipt of merchandise properly.  Once upon a time, you may have been able to take most of your goods in big chunks, but now it makes more sense to have items flow in on a more regular basis.  Smaller and more consistent orders is what I am looking for and expecting from our retail partners.  There is always time to reorder, just allow your representative access to your business so they can help you with this.

7)      Get your orders in early before the good stuff is gone.  From my perspective, I can see that vendors have taken much slimmer position of inventories.  This could dramatically affect your business, particularly for new introductions and last minute reorders.  Vendors do not know what you plan to order until it is an order and their inventories (and allowances for reorders) may be short without this information from you.   I believe it is best to stack deliveries from any particular vendor over the course of a few months to ensure that goods and cash flow are even.  Write your orders now for September, October and November deliveries and fill in as needed along the way.  We can always add to an existing order or move a delivery around if needed. 

8)      Experiment with at least one new category.  You may be hearing from your customers what they are looking for, but cannot find.  Listen to their request and figure out how you might be able to create additional market share for your business.  This might be as a result of picking up a successful collection from a retailer in your area who has closed their doors.   I have been carefully adding new vendors or helping existing vendors develop new classifications to the About Home package with this same phylosophy in mind.  Each season I see the result of this with the collection of products we represent improving and our sales growing too.

9)      Say “yes” until there is a reason to say no.  It is amazing what you might discover when you keep your options open.  Too many times I see retailers say no, put up obstacles to information or declaring “been there, done that.”  Keep flexible and see what comes your way. 

10)   Don’t stress the little stuff.  It is much easier said than done, particularly as we have navigated through such a brutal economy with undoubtedly a ways more to go.  We all have to be focused on succeeding not complaining. 

When I write this all down, you may agree that it may seem rather basic.  Perhaps that is what this economy is about; returning to or keeping with business basics.   I too, have to follow these ideas above and will make a point to post this blog on my bulletin board above my desk.

I remember shopping many years ago in the city with my grandmother who was always outfitted with her mandatory gloves and hat.   Where ever we went sales clerks, (that’s what they used to call them) would graciously help us with whatever we needed, no matter which department they worked or where they had to look.  Rarely do I see this type of customer service in retail stores any more.  Only in fine hotels can I depend on, expect and enjoy consistent concierge service.

It seems that hotels really care about their guests.  They want guests to enjoy their stay, return for future trips and let everyone know how well they were treated.  It would be a great equation for everyone to practice, particularly retail stores.  

So how come so few know this?  Perhaps they have never had the experience on the other side.  Perhaps they are unaware as to how important it is.  Maybe they are so busy doing other things they have forgotten that retail is sales and customer satisfaction is everything.  Just look in the business section of any library or book store:  There are huge selections on customer service and volumes on this topic.  It is important!  It must be something hard to achieve, right?

Nope!

Having grown up in a household where ladies and gentlemen treat ladies and gentlemen like ladies and gentleman, my parents engrained in me to be gracious and have good manners.  I have tried to extend this in business and I think there are other people who try to do this also.   I think just about everyone wants to be treated well.  I think most people can remember at least one experience where they were treated so well that it makes them feel wonderful today just thinking about it.  No matter what your background, I believe almost everyone can provide this “concierge service” if it is expected as well as exemplified.  That being said, finding the best candidates to facilitate good customer service will make things a lot easier.  The good customer service personality boils down to this:   Genuinely like people and be interested in them.   If you have this personality or you hire those that do, most everything else falls into place. 

In order to offer the best concierge service possible, you have to believe that everyone is your customer; past, present or future.  Big spenders or small, if they walk through the door and are treated as such they will likely reciprocate and become your customer if not already.  This includes people who you may not consider your customers such as co-workers, supervisors, trades persons and the like.   The first step in creating a customer is warmly (and not rehearsed) greet them.   I have been to many stores where absolutely no one acknowledges me.  I always think what would I have done differently if I worked in their store?   Well, I would ask questions that cannot be answered by yes or no.  I would make statements that engage customers to get things rolling.  “Hello and thank you for coming in today.  I am here to help you.  What are you looking for today?”  Most customers, who have driven, parked, and walk-in are looking for something, and many times they can find it by being enthusiastically acknowledged. 

Once engaged, keep going!  Help guide your customer through your store.  Although you may be accustom to what is in your store and where it is located, everything is new for the person who has never or perhaps infrequently been on your floor.  Stores can be like museums because there is so much to look at as well as process in your mind. It could be confusing.  Helping navigate customers through what they are seeing is not only good customer service, but smart business.  Should a customer just want to browse on their own, most will say so.   Always offer them the option.  And if you are fortunate to have a busy store, most customers will wait for you, if they are witnessing great customer service being offered to another customer. 

Don’t forget that your best attribute in proving great customer service is many times overlooked, and that is, know your products.  By training your staff about the products on your floor and also what may be available by special order, your expertise will undoubtedly wow customers.  Like every great concierge at a hotel, they know what is around them, how to get there, how much it is and can compare one thing to another with ease.   Consumer confidence is the key to obtaining and keeping customers.  No detail is too small.

This is why there are so many little things that make big impressions.  Offering to wrap a gift rather than asking if something needs to be wrapped, asking the customer if they need instructions for how to care for any particular product purchased, writing information on products for the customer, walking a large bag or item out to the customer’s car, and writing a thank you note to customers after they have purchased something.   No one should be so busy that they can’t take the time to treat customers like customers. 

Most importantly, being known for great customer service is almost always achieved by performing these retail rituals consistently.  Make sure that everyone on staff is trained regularly and evaluated on all things relating to customer service.  By doing this, it will always keep you on top of your game in your customer’s mind.  Retail isn’t really about the price, but always about value.