Unlocking Retail

“Don’t find customers for your product, find products for your customers” ~Seth Godin~

This is a great quote to really think about.

When we focus on our customer and gather the facts in our business, we find hidden clues about what our customers really want.

We can learn more about the most sought after categories, products, price points, sizes and many more clues about our business.

Effective analysis can unlock many clues that can guide you in your purchasing decisions and put you on the right path to find the products for your customers.

This is the way to take your business from Purchase to Profit!

Need any help with effective analysis on your business, shoot me a message or pop over to the Unlocking Retail website for more contact details.




https://unlockingretail.com.au/

There is no failure, you either Win or you Learn.

Nelson Mandela quoted “I never lose. I either Win or I Learn”. He also held onto the concept of learning until his last breath!

This philosophy really helps to make you strong and gives you the strength to not just carry on, but to really learn more when things get tough in business.

If your business is not doing what you imagined it would and feel there is more potential. Then it might be time to try something different.

I talk to many retailers who have such wonderful concepts and couldn’t be more passionate about their retail business and their customers. However, they also feel there is something missing and when we start talking about all the different aspects of running a successful retail business, it often comes down to clarity around the numbers.

By implementing effective analysis into your retail business, you can really understand what makes it tick, what the key drivers are and if all your buying, merchandising and marketing decisions reflect this.

If you’re in a product business you will always make buying mistakes. That’s the only way we learn what our customers like and what they don’t.

By implementing a structured process to ensure you learn the most from your mistakes and then creating an improved buying plan is how we win.

This is where Planning and Forecasting is one of the most supportive tools a retailer can have.

I see incredible shifts in my clients, from complete confusion around numbers and inventory to absolute clarity. Even excitement to review their budgets and plans to see if they are on track to grow their business.

My passion is to help busy retailers plan their buying to ensure best product mix, while having less stock on the shelf, more cash in the bank and higher profits.

If you want to learn a new way to go from Purchase to Profit give me a shout. Simply drop me a message or pop over to the Unlocking Retail website for more contact details and let’s chat about your business.
M x
👌 ❤️

How well do you know your stock?

Knowing your stock can put you at a great advantage in any product business.

Inventory is by far the biggest investment you make in a retail business.

So the attention you put on the management of your stock is a direct reflection on your Sales, your Profit and your Cashflow.

When I start working with a retailer and we take a deep dive into their inventory, I love seeing the new sense of power they have by knowing the exact position their inventory is in.

“Wow!! I didn’t know how much that affected my Cashflow!”

“I could have spent 100k less on stock this year and achieve the same Sales and Profit result”.

These are very common comments I hear from very experienced and well established retail business owners when they start to understand things like stock turn and the impact it has.

The magic really is in your biggest investment, your inventory. 🪄

A lot of these answers we can discover in one free strategy session, where I will let you know if there is opportunity to improve your Profit and/or Cashflow.

And if there is no opportunity for significant improvement, we have had a great chat 😊

However, I haven’t come across that yet😉

So give me a shout and let’s take the deep dive and discover the hidden treasures in your biggest investment.

Drop me a message or pop over to the Unlocking Retail website for more contact details.
M x
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https://unlockingretail.com.au/

Does a good knowledge of Retail Maths contribute to a successful retail business?

In my experience, knowing and understanding Retail Maths absolutely contributes to a successful business! Let me explain why…

To me knowledge is power and the more you know and understand all your numbers the more powerful you are in your business.

✅ Negotiation - If you understand mark-up and margin on a product and are able to do the calculation, you will be a much more powerful negotiator in a supplier meeting.

✅Credibility – A retailer that can work out and understand all the maths has much more credibility and can add facts and science to all business decisions.

✅Buying – If you understand COGS (cost of goods sold) and Gross Profit you will be a much more powerful Buyer and know what GP% is required from each category in your business.

✅Markdowns – If you can work out how much the discounted price will affect your GP$ and GP%, you can make more informed decisions.

✅P&L – If you understand all your retail numbers you can work out what Gross Profit is required to pay your bills and ensure a Net Profit! Check it

This is just a few ways you can be more powerful in your retail business by understanding and LOVING your numbers!

If you need help with your numbers, that’s my passion and I’d love to help.
M x



https://unlockingretail.com.au/