Harper Grey: What You’re Doing Right!

 

Retail Insights with Harper Grey

Often when I sit down to write this column, I find myself thinking of all the things store owners and their employees are doing wrong. My job is to give you an idea of what your customers are thinking and feeling as they shop in your store and help you fix what’s wrong. The goal is for you to have happy customers that ultimately drop more cash in your store and make you more successful. But sometimes I feel like all I do is tell you what you’re doing wrong. So today, I’ve resolved to be more positive and instead, tell you what you’re doing right.
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The Race to the Bottom of the Pricing Barrel

 

Pricing

When thinking about pricing your merchandise or services you might be tempted to look around at your competitors and then price your stuff the lowest. You figure, this way, customers will choose your company and you’ll make tons of money. But is this strategy the best?

Breaking it down into the most simple terms, there are three ways to do business:

1) Sell a few items at a high price

This strategy works well for craftspeople. If you’re building custom cabinets in your workshop, hand-weaving rugs or making custom-fitted suits, you’re not selling to 10 customers per day. It takes awhile to create your product, so you’re limited in inventory.

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Promotional Emails: A Lesson in Emotional Turmoil

 

The Savvy Shopper - Harper Grey

When I took my daughter back-to-school shopping this fall, it seemed like every retailer had a “Preferred Customer” program. I was encouraged to sign up for the free programs and assured that they afforded me special discounts several times a year. So I willingly gave three different companies my personal information, including my email address. I figured that it might be a wise idea to get “special discounts,” given that I have a teenaged daughter that has turned out to be somewhat of a fashionista.

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My Fickle Love Affair With Self-checkouts

 

The Savvy Shopper - Harper Grey

Cynics say there’s no such thing as love at first sight, but I beg to differ. The first time I saw a store with self-checkout, I swooned. Six shiny little check stands with cute little lights and fancy touch screens glistened in the space where the grocery store once shelved magazines. I don’t know (or care) where the magazines ended up . . . the point was that I got to be IN CONTROL of my grocery ringing up. And secretly, I’d always wondered how fun it was to scan all those bar codes. That turned out to be a little bit of a letdown, but overall, the self-checkout quickly became my favorite thing about the grocery store.

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7 Pricing Strategies Every Retailer Should Know

 

The Price is Right

Of all the strategies you’re thinking of for your new business, pricing is the one that can truly make or break your business. Price too high and your competition will get all the business. Price too low and you won’t make enough money. Super-smart business economists have come up with dozens of pricing models – any of which can be used to help bump up your profit while keeping the customers happy.

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8 Shoplifting Myths That Cost You Money

Shoplifting Sign

According to the National Association for Shoplifting Prevention (NASP), more than $35 million of good are stolen from retailers every day. That’s a whole lot of stuff going out the door. If you’re a retailer, you want to do everything you can to deter shoplifters. And with approximately 27 million shoplifters in the U.S., there’s plenty to deter.

But all too often, retail owners make it too easy for thiefs by falling prey to one of many myths about shoplifting. Save your business thousands of dollars each year by educating yourself on shoplifting, knowing what signs to look for and never falling victim to one of the 8 shoplifting myths!

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Is Procrastination Costing You Money?

 

The Savvy Shopper - Harper Grey

Why do today what you can put off ‘til tomorrow? It’s certainly one of my mantras. And when it applies to things like grocery shopping, washing the car or (as my husband can attest), vacuuming, it’s not that big of a deal. The world won’t end if my car has a few hundred bugs on the front grill.

But when you procrastinate with your business, it’s a different story.

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