What makes customers go "yuk" and leave your store: Turn-off's Look around as though you are the customer. We are now in our fourth quarter when most retailers do a large percentage of their annual business and the traffic count is much higher than other months of the year. These are some of the top turn-off's [...]
When is your store the most vulnerable to theft? When the safe is opened and the merchandise has not yet been set and locked in the showcases (during store opening procedures). The same applies to your closing procedures. Keep Doors Locked - During opening and closing processes. Do not leave door unlocked because an employee "will [...]
Thoughts from Ann Arnold, BIG's Chief Strategy Officer We constantly hear from our clients and colleagues that this industry has to change. For those that do not know me, prior to joining the BIG team earlier this year, my family and I owned Lieberfarb bridal manufacturing company for over 40 years. As many others in this [...]
It’s important to understand the nature of budgeting inventory using a formula. I have attempted in this article to explain an approach for determining inventory levels that can be used by any business, regardless of its makeup. However, using a goal, such as GMROI to arrive at an inventory budget does not address the myriad [...]
Buyers Intelligence Group (BIG) is pleased to announce a new addition to the BIG team, Ann Arnold as Chief Strategy Officer. Ann will focus on integrating BIG's three powerful industry products, enabling the company to provide a comprehensive, scalable, industry solution that delivers dramatically improved performance to jewelry retailers and manufacturers. Arnold is a 27-year veteran [...]
by Abe Sherman I’m not a big fan of reality television, but there is one show that every business owner should be watching. The Profit, which debuted last fall, stars Marcus Lemonis, a billionaire investor who is called in to save ailing companies. Regardless of the products the company sells, his approach is to make [...]
By Abe Sherman We are excited to launch the new Balance to Buy™ Sales report. The new Sales report is an extremely comprehensive view of your sales data, which you will be able to run Daily, Weekly or Monthly. Clients were asking us to design a sales report that they would receive automatically each day showing [...]
by Abe Sherman There are some exciting new reporting capabilities already available and others that will be available soon in Balance to Buy™. The one that I’ll share today is the Period-to-Period option which was recently added to the Summary Detail Reports. Period reports let you compare productivity over long periods of time, in addition to [...]
By Abe Sherman At first I was going to describe it as a wave. Then I was going to use the image of a Tsunami, a high wall of water moving onshore crushing everything in its path. But “Tsunami” would be a pejorative in this context since there won’t be any destruction, only opportunity: Massive opportunity [...]
By Abe Sherman The discussion at one of our Plexus Performance Group meetings this spring was about the book, The Age Curve, by Kenneth W. Gronbach. The author describes the size of each of the five living generations and the impact each one has had, is having, or will have on the marketplace. Coincidentally, we also [...]
