Selling to Generation Y

It’s actually scary to think that Generation Y, also known as the Millennial  Generation, are use to being engaged with technology for about eight hours a day. Yep, you read that right – eight hours. Between texting, social media, computers, phones, i-Pads and TV, Generation Y makes it tough to communicate with in terms of sales. Their attention span is minimal, and many are known to be very impatient when being waited on or helped. In fact, most studies tell us they expect – not just want – but expect immediate satisfaction. As an independent retailer, that’s a lot to respond to.

Born between the late 1970′s and into the early 1990′s, Generation Y are making up a large audience of potential customers. While it may seem obvious to market to them online and via technology driven avenues, it’s also important to provide traditional marketing and sales options. The key is communicating with them in a way they respond to.

For starters, Generation Y consumers typically love a good “cause”. Whether you give a percentage of sales to a local charity or provide attention to a great cause, this group of consumers want to hear about what’s going on in the world. Sure, they may not want to read a ten page report on something, but they care enough to contribute how they can. And this is especially true if they are shopping for one thing and can give to another all at once.

Just as much as they love a good cause, Gen Y also loves the uniqueness that everyone has. Their appreciation for being a “one and only” was built on upbringings that told them they were unique and could do anything. In response to this, you have to learn to react to customers a bit more uniquely, as well. Without truly profiling your customer, you can still learn a lot by how they are dressed, what they are doing (example: are they on the phone and shopping at once) and how they react to certain enviornments and shopping. Many want to be engaged, so stores without the option to touch things or experience products before purchase often miss out. Consider how your store would make a Gen Y consumer  feel. Does it speak to who they are? For that matter, do you want your store to?

Finally, don’t let time be on your side. Unlike many other consumers, Gen Y tends to be in a rush. They are constantly moving and looking forward to the next thing on their to-do-list, even if that’s tweeting or checking their Facebook status. So what does that mean for you? Don’t beat around the bush and get to the point in your sales and support. They’ll appreciate it, and so will you.

Have your own Gen Y tips? Please comment below!

 

Store Employees: Do Yours Help or Hurt Your Store?

No matter how strong a store is merchandised or how fantastic your product is, you can assume that some of your sales simply come as a result of your employees. Knowing this, it’s natural to wonder just how great – or not so hot – your employees are.

Think back to a time you walked into a store and were greeted with a friendly smile and an assertive yet not too pushy associate who took the time to engage you in the store product. Now recall an experience when you walked into a store and were not greeted with even a hello and left without being acknowledged at all. Both actions delivered by store employees influenced you in your shopping experience, however only one of these scenarios likely resulted in an unplanned purchase or at least an enjoyable shopping experience.

The goal of your store employees should be to demonstrate knowledge and interest in the product or service they are selling while also communicating in a professional manner. The key here is to remember that your employees are a direct reflection of your store and often, they are what consumers remember more so than the product. This said, in addition to their knowledge and interest of your store product or services, also consider their personality and style. Do they complement your store, as well? They should.

Having the experience or at least the interest in the products being sold is essential. But this will not equal the right sales approach in all employees. Make sure that your employees are aware and well trained in communicating to customers the way in which you want them to. All new hires should be trained accordingly, as well as reviews / trainings / store meetings should take place on a quarterly or bi-annual basis. Without communicating your expectations of sales to your team, you cannot ensure the best customer service from your associates.

Finally, while it can be tempting to hire friends, family, or just someone who you get along with, make sure their passion towards your store purpose is on track with your own. This will reflect in their sales performance and customer service and ultimately, in your store sales.

Retail Minded to Sponsor Cash Mob

Retail Minded is thrilled to be sponsoring our first cash mob! Planned for Saturday, April 28th in Geneva, IL, the cash mob will take place at organic garden shop The Pure Gardener.

So just what is a cash mob? Unlike other mobs, this one is welcomed and a lot of fun! Created to support indepenently owned businesses, cash mobs bring together a group of people to “mob” a store through sales. Details may vary per each mob, but typically the goal is to get the store both attention and sales in one, dedicated day. Of course, the ultimate goal is for consumers to always shop local and support their communities in this way.

Join Retail Minded as they partipcate in their first cash mob this Saturday! Can’t join? Visit their website to shop their online store! Still not intrigued? Plan your own cash mob!

WHAT: Cash Mob for The Pure Gardener

WHERE: 502 State Street, Geneva, IL 60134

WHY: We think it’s great to have such a beautiful organic garden center in the heart of downtown and want to help them prosper. Plus, we love that spending money locally helps keep our community at large alive and thriving!

DATE: Saturday, April 28, 2012

TIME: The mob starts at 11 am and ends at 3 pm. Mob participants who want to be there for the excitement at the beginning, and best assortment, should meet in the Courthouse parking lot at James Street between 4th and 5th Street at 11 o’clock. This will minimize traffic on State Street and assure parking for everyone. Plus, this will be the crowd to first “MOB” Pure Gardner!

MORE: It’s our hope participants will spend $20 cash or more at the Pure Gardener. Your contribution helps this wonderful local business, as well as you get to shop for items you could use! Additionally, “mobbers” will get 20% off all purchases at All Chocolate Kitchen in Geneva on the 28th & 29th of April simply by showing their receipt.

Top Struggles of Indie Store Owners

We all have a “list”. Whether it’s a mental one, on your i-Pad, or scribbled on paper, “lists” are popular among busy folks – and really, anyone. So of course, retailers are not the exception here. In fact, most retailers we speak to have many lists. They have their immediate “to-do-list”, their “wish list” for new products, their “maintence list” for store repairs and many others. One list most don’t actually write out, though, is their “struggle” list. Here at Retail Minded, though, we have been keeping our own list on what we hear to be the top complaints, frustrations and ultimately, struggles, of indie store owners.

In no particular order, here’s what has made our list.

1. Store Overhead. Let’s face it, rent isn’t cheap (for most of us) and inventory costs a lot. But both are necesseities for most retail busineses. This can create pressure for indie retailers since along with these expenses, they have many others. Are best advice? Determine your best Retail Turn rate to support your store space, inventory and ultimately, your bills. Issue 2 of Retail Minded Magazine has a fantastic article on this, and we encourage you to find your own best turn to help you manage your overhead.

2. Personal Expenses. Life isn’t free, plain and simply. Covering the expenses of your store is one thing. But feeding yourself – not to mention a family – and keeping a roof over your head is another. And as far as we are concerned, we want you to have a roof you enjoy! So what’s a retailer to do? For starters, get your store in shape. Don’t skip any steps in helping it succeed in the marketplace. And if possible, factor in a target salary for yourself so that you can budget your personal life accordingly. Then work extra hard to earn it and even earn more! Promise – we know many retailers who do this and do it well.

3. Health Insurance. And time off to actually go to a doctor! Retailers don’t have idealistic hours. You work a lot! But finding a health plan is important – and dare we say vital – in your work / life balance. Many Chambers offer health care as a benefit to their Chamber members. Other associations and organizations also offer this. So if you think you have to be alone in getting health care, you don’t have to be. While that is one option – you have many to consider.

4. Work/Life Balance. The idea of spending all day, everyday in your store can often seem exciting. Fast forward a few years – or even months – and there gets to a be a point for almost every retailer we know that they wish things were not so strict when it came to store hours, face time in store, etc. Here’s the catch – it’s strict for a reason and it’s simply part of retail. You should do everything you can to avoid closing your store early or at random times during the day – unless it’s a quick 15 minutes or so to grab lunch, walk your dog or run a fast errand. We get that. Otherwise, strive to find support to give you the balance you need in being away from your store. This may mean hired help. Maybe a friend can help you. Whatever it is, don’t let yourself get burnt out. That’s where things go downhill.

5. Logisitcs. A license for this. A license for that. Who knew in retail you would have to gain permission to put a sign outside your door? While each retailer and each commuity is different, for the most part everyone has been surprised by all the logistics involved in getting doors opened and more importantly, stayed open. Whether it’s serving wine at a party you have or putting a new overhang sign on your door, there are hurdles to consider – legally. We’re not even talking about the licenses you need simply to resale as a retailer. Our suggestion? Don’t take shortcuts here. The steps may seem long and mundane, but they are a must.  Plus, fines add up. And from our notes, fines are distributed way too often!

While it’s impossible to give everyone a master plan to easily navigate your unique store and your unique steps in this crazy business we know as retail, we certainly try our best to give you some support. And we hope you can each support each other, too! Leave comments below about your biggest frustrations and struggles in retail. It’s our bet you aren’t alone.

Want more support to help your business thrive? Want to learn about other retailers who you can learn from and lean on? Be sure to checkout Retail Minded Magazine – the nation’s only Retail Lifestyle Publication! Plus, we’re “boutique” like you so we need your support to stay alive!

Lots to Look Forward to at ASD August Show

August may seem far away, but it’s just around the corner in the “retail” world. It’s so close, in fact, that registration for the ASD Las Vegas Show that takes place from August 12-15, 2012 is now open. As the country’s largest consumer trade show, ASD offers variety, fun and a whole lot of shopping. Their recent March 2012 show had over 3,ooo vendors for their over 45,000 attending retailers to choose from. If that doesn’t scream variety, we don’t know what does!

Top performing products sold at the recent ASD Las Vegas show included:

• Fashion Jewelry: Fashion accessories such as bracelets, rings, watches and earrings were top sellers. Whether from cash & carry or through orders placed, the choices were on track with modern retail needs and consumer demands.
• Accessories: Handbags, wallets and other leather goods flourished in a variety of styles, price points and vendors. Additionally, hats, scarves, eyewear and sunglasses also performed well.
• Gift & Novelty: From actual gift bags to wrapping paper to a vast assortment of items to sell as gifts, ASD covered it all.
• Closeouts & Liquidations: Apparel for men, women, children and babies thrive at the ASD closeout & liquidation section – with guaranteed finds in style and brand names included.
• Resort: Stores that cater to a destination, travel or resort audience excelled at ASD, with the perfect assortment of gifts and novelty goods for their stores.
• Toys/Plush/Games: From licensed games and toys, such as Disney and Dora, to popular adult games – including Angry Bird – there was a seemingly endless choice of vendors to shop from in this category.
• Apparel: Style held it’s own at ASD, with fashion trends available at a large assortment of vendors. Classic t-shirts, sweatsuits, college apparel, undergarments, socks and more also thrived.
• Home: With the exception of large furniture, you could re-decorate an entire neighborhood full of homes with the assortment found at ASD. Different style? No problem. Variety – and giving retailers choices – is what ASD does best.
• Holiday: Home decor for the holidays, store accessories, novelty items and more made the list of top performers at ASD. Combined with the rest of the top sellers at ASD, we think this ends the list on a  happy note!

First time attendee Lydia Stern, whose store  Beadlush is based in North Carolina, was excited to find new product choices for her store that she had never even  thought of on her own to introduce. Her attendance at the show not only introduced her to new vendors to work with, but opened her eyes to new ways to merchandise her style.

Ready to buy for your store’s assortment in a one-stop powerhouse show? Registration for the ASD Las Vegas August show is open now!

 

Boutique Customer Service Tips

The beautiful thing about running your own store is that you call the shots. From what you sell to how you greet your customers, it’s up to you. This also can be the not so beautiful part of running your own show. You have to make a lot of choices on how things should be done, and like everyone else in the world – you can’t be an expert on everything. So what do you do?

To begin, “branding” your store and even yourself with great customer service is a fantastic way to stand out from other stores in your community. This can include friendly welcomes into your store, extra little perks such as beverages or sweet treats during store visits, outstanding service for customers who appreciate “the above and beyond” and much more.

For boutiques, the rules are up to you. And so is the challenge. What makes your store stand out? Do your employees represent the same extra special somethings that you do? How can your store – aka your “brand” – be unique in a competitive market? Some tips to help your boutique be the best it can be include:

1. Let your voice be heard. Don’t shy away from any customer that walks through your store, but instead treat everyone as if they are your #1 customer. Spoil them with friendliness, attention and knowledgable product information to help them really experience your store and the products you sell.

2. Brand your boutique. Your logo is one thing, but the overall style you create in your store can help shape the experience your customers have. Use repetitive colors, strong visual appeal, bold features, comfortable additions (think nice dressing rooms or comfy but stylish chairs to sit) that will all help position your store as a leading boutique in it’s enviornment.

3. Be a united team. If there is more than one person working in your store, you should all represent your boutique in a united way. This means from how you greet customers to how you support them as they shop. Strong employee training and expectations can help set this standard among your team.

Remember, part of the appeal of having a boutique is creating it to be an environment that is unique in ALL ways – not just your product assortment. What does your boutique do that makes you stand out? Let us know in our comment section below!

 

 

 

RM Launches Downloadable Workshop: Visual Merchandising

Together with Oak Street Design Company, Retail Minded has created a downloadable presentation to teach the vast dynamics of visual merchandising specific to independent, retail businesses. Our Visual Merchandising Workshop makes the perfect presentation for Chambers, Mainstreets, business organizations and more to learn from and gain leading advice specific to visual merchandising.

Used as an educational tool to help retailers succeed, the Visual Merchandising Workshop is packed tight with applicable tools, valuable examples and a step-by-step presentation that makes presenting this workshop as easy as 1-2-3… even if you know nothing about visual merchandising! Retail Minded provides you with all necessary tools you need to share this workshop in a seminar style, workshop or even just for yourself. Talking points, questions to provoke creative thoughts, visual aids and an entire power point are done for you – making your only job to learn from Retail Minded. Gain an RM workshop without having our RM team on site! Affordable and convenient, this is the perfect solution for individual store owners and business groups to gain quality insight on merchandising tips for their stores.

Ready to motivate and train your retail team on the best tips for real life merchandising? Visit the Retail Minded Store for our downloadable workshop and other educational tools to help your business thrive!

 

Day 3: Fashion & ASD Blend Well Together

A quick glance onto the floors of ASD Las Vegas and you will be left wondering where to turn. There are many fashion focused exihibitors at the ASD Show who offer fashionable finds that are in tune and even ahead of today’s market. With price points affordable and margins too good to be true (but yet they are) retailers are in buying heaven at ASD.

Customer William Gifford from Oregon says it best. “The ASD Show is the most comprehensive show you can go to offering the best assortment at the best price.”

But don’t let the prices fool you too much. While there are great companies to buy from that cater to low wholesale and high markup, there are also terrific vendors that are very boutique oriented. One such exhibitor is Zsa Zsa Jewelry, where designer and founder Meena Catalano has her own designs available at $45 – $1600 wholesale. On the opposite end of the scale, OMG Blings delivers high fashion at affordable prices, beginning at $1 wholesale. With styles comparable to what you see in fashion magazines and on the runways, retailers can hit a home run in buying for their stores.

From jewelry to clothing to footwear to handbags to luggage, the assortment that ASD Las Vegas offers goes on for what seems like forever. There are countless vendors to choose from, as well as vendors to help support your store displays. One such exhibitor is recently launched WOW, which is a creative, unique jewelry and apparel organizer. Founded by Laurie Clayton, these affordable “hangers” are great store display options as well as items to sell to your customers for their own closets. QVC has given them a 5 star rating, and now you can bring it to your own stores thanks to the ASD Las Vegas Show.

All this can make buyers tired, but ASD Las Vegas has this figured out, as well. Their lounge area has a DJ rocking just enough to keep you awake while taking a break. And when your feet are ready to move again, there is no shortage of fashionable finds to discover.

 

Day 2: Babies & Kids Stand Out at ASD

Baby boutiques and kid stores have a new show to shop. The ASD Las Vegas show has a fantastic assortment of baby, toddler and kid apparel, toys, luggage, accessories and much more. Price points begin at around $1 for wholesale, and many of the attending vendors at ASD Las Vegas have no opening order minimums. On top of that, there are show specials and unique finds, making the ASD Show vendors stand out in the baby, toddler and kid crowd.

From petti skirts to children’s books to overcoats to sippy cups, baby and kid boutiques will have the chance to mark up products to dream retail prices, bringing in extra dollars and deserved attention for having stand out products that are unique to your town. There are brand names to choose from, but also wonderful one of a kind and lesser known brands to shop from, as well. This combo creates a balanced harmony for stores to merchandise their stores in a fashion that customers are attracted to.

Among the ASD Show vendors exhibiting in the baby and toddler category include husband and wife duo Ryan and Jeena Lugo from Utah, who own Always Underpay. A wholesale business that caters exclusively to the baby and kid market, Always Underpay is a fantastic resource for tutus, petti-skirts, hair  accessories, diaper covers and so much more. Fun, colorful and affordable, Always Underpay stands out at ASD as a brand that is perfect for boutiques. Their $35 wholesale minimum is affordable for boutiques, and their quality is in tune with customer expectations, as well.

 

 

If clothing and accessories aren’t your thing, you are still in luck at ASD. There is a vast assortment of toys and kid accessories to choose from. From potty training seats to licensed accessories to kitchen goodies for kids and more, vendors such as OKK Trading and U.P.D. Inc offer the perfect and vast assortment of everything you can dream of. Just when you think you have seen it all, something new surprises you from their assortment. A recent hot product on U.P.D’s item list? Angry Bird accessories such as plush toys and water bottles. Their other licensed product includes Dora, Disney, Spiderman, Hello Kitty and more.

Puzzles and books galore can be found at World Publications Group, an exhibitor of ASD who sells a vast variety of children’s books, coloring books puzzles and more. The nation’s leader in variety books at discount prices, your only minimum is 2 books per title and $150 opening order. For their prices, it will be easy to stock up on great choices for your customers – big and small. They also sell books for tweens, teens and adults, so all your bases are covered.

Boutiques can feel good about getting a lot done at ASD, shopping vendors that allow them to markup their products to make good money while still meeting that “boutique” appeal. Show specials are common and the vendor support from ASD is fantastic, so it’s a win-win shopping scenario. The only problem? Your feet may hurt from shopping all day! With nearly 3K vendors exhibiting at ASD, there’s a lot to choose from.

 

Dealing With Difficult Customers In Retail

With the good comes the bad, and in retail this means dealing with difficult customers every now and again. Often, this is due to things you cannot avoid. Other times this may be a direct result of something you or your team did. Either way, the tips below can help navigate you through the drama difficult customers deliver.

1. Remember to let your customers communicate how they feel. First and foremost, them “venting” is often all they need to make things begin to be better. After they are finished venting, apologize for their unhappiness in your store – even if you do not feel they have been let down in anyway. It’s simply showing you support them in their role as a customer.

2. Really listen to your customers and what their viewpoint of the problem is.Even if this is not your viewpoint, try and deliver a response that shows you respect their opinion. If they are challenging your return policy, for example, you can state why it’s in place and that it had to be enforced. It they are challenging a vendor issue, explain your lack of control but your willingness to help here. Often the explanation alone can help customers see your position in difficult customer scenarios.

3. Fix the problem at hand. Whatever the problem is, find a solution. This may mean breaking your own rules every now and again, but this should not be the quick fix scenario. As an indie store owner, you should have boundaries to help keep your business afloat and likewise, as an indie biz owner you are the boss and should be able to break rules when you feel you need to – or want to. You be the judge. Whatever you do, find a solution to resolve the problem and ideally, leave the customer feeling satisfied that they have experienced valued customer service.

Problems will occur, people will complain and life will go on. This is the nature of everything – especially in a business centered around customer service. What you take of this ultimately determines what value it brings to you. Learn from difficult customers to help your overall business and your overall success. You just may begin to be grateful for the disgruntled customers out there every now and again!

Next Page »