The funny thing about increasing sales is that it doesn’t always take a huge change in your store to do this. Often you have the inventory, the people and the opportunity to do this… but aren’t. Then again, change is sometimes exactly what you need to do to increase sales.  Which category do you fall into?

Below are five tips to help you boost sales and increase store revenue.

1. Always have extra products available for quick add on sales. Whether it’s bottled water (even if it makes no sense to the rest of your store assortment), fun accessories or random knick-knacks, the ideas is to give customers something to touch while they are getting ready to check out. Their lingering of additional merchandise should lead to add on sales – and more money in your register.

2. Use smart sales strategies. If a customer is checking out, let her linger over your great add on products near the cash wrap. But also engage in conversation to help her understand why she needs something else. When customers are shopping, react to their body language, questions, overall engagement and more. Basically, offer customized customer support per each unique customer. And don’t forget… standing behind the cash wrap area (or your desk!) is a very hard way to create sales in your store.

3. Pay attention to your best sellers – and react to them. Do you have two left in a top performing item? Buy more NOW! If you let best sellers sell-thru without re-ordering them, you lose money. Plain  and simple. Give yourself enough time to order things that need to be ordered… which leads us to our next point…

4. Markdown slow moving items. If inventory isn’t moving, mark it down and get them sold at a reduced price. Keeping old inventory in your store that isn’t selling not only makes your overall store assortment look stale, it hurts your bottom line. Mark these items down, sell them and move on.

5. Train your team on products, selling techniques and your store “brand”. If it’s just you working in your store, then you know what you are doing – or not doing. But if you have a team of 1 or 10 or 100, you need to train everyone to be on the same page. Set selling standards. Introduce product knowledge workshops. Identify your store mission, values and how you want customers to perceive your store – and the people that work there. Remember to follow up with reviews to make sure things are getting done. Without a strong team, you will miss sales. It’s very simple, really.

Finally, wear cozy shoes so you don’t mind being on your feet all day. Eat healthy so you have energy. Rest your body – and feet in particular – when you aren’t working so you have the energy to work retail hours. And of course, have some fun. Enjoy your work, and your time off. This will all lead to more sales since it will lead to a healthier you!

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With each issue packed with content to help your store thrive, Retail Minded delivers news, education and support for your entire retail life – both in and out of your stores! Subscriptions and single issues are available at www.retailminded.com/magazine.

Group rates, promotional opportunities and advertising available. Contact Founder Nicole Reyhle for more details at nicole@retailminded.com. Thank you, and we hope you enjoy Retail Minded Magazine!

1. Prioritize Your Time. If you know you have to let go of one idea in order to successfully complete a project at hand, then do so. A good idea is to have a “thought book” that you can quickly write down any thoughts you have, allowing you to reference them when the time is right.

2. Stay True To Your Brand. Your brand can be your store image, a product or even yourself – or all three. Whatever your brand is, though, make sure to stay loyal to. Sure, it can grow and expand, but if you stray too far from your brand feeling, customers can get lost and confused and even worse, become distant. One example of this is when a retailer lets a friend sell their product on consignment… even though it makes no sense for their store. Remember to always think about the big picture and if your brand tells a consistent story.

3. Add Value to Every Move. You can promote a product, process a sale and call it a day. Or you can sell something, enjoy the process of the sale, create a memorable customer experience and look forward to seeing a repeat customer again one day. The idea is to add more value to every move you make as an entrepreneur. These moments create memories and the memories you make should be valuable. It’s a domino effect for your business… the dominoes keep falling and creating opportunities or they can crash and fall without an continuation.

4. Lead by Example. A smile goes a long way, but true passion in what you sell, how you manage, the way you talk and the overall communication you offer can help – or hurt – your business. Your best bet? Be someone you would want to work for, with or as a partner to.

5. Be Open to Change. Sometimes change can come in the form of learning something new. Other times it may mean implementing a popular social trend into your business practices. Often it simply means letting go of a vendor you love after accepting their product isn’t selling. What does change mean to you? Be open to it, and your business will be more open to thriving.

Finally, enjoy the entrepreneurial ride. It’s a busy one, but a worth-wild one.

Want more support of your indie business? Check out Retail Minded Magazine – the only retail lifestyle magazine that supports retailers both in and out of their stores!

Or insert a smile! There are some fun ways to help lift the moods of employees who are working weekends in retail stores. Besides the (hopefully) obvious – that you are working in a store that sells great product and has great customers – consider having weekend ideas that can help create a more exciting work enviornment.

Saturdays and Sundays can be busy for retailers, so employees can expect shorten lunch breaks, tired feet, long days and little down time. This may be good for your cash register, but it can leave employees – or yourself – beat. Introducing the tradition of something just for employees can be a fun way to help the day go by. Consider having pizza delivered for lunch, or introduce a pot luck style lunch where everyone brings something. You can get creative – one week it can be Mexican food, another week sandwiches and chips. Food isn’t always a perk (depends on who you are talking to!) so consider other options that can lift  moods. Have a daily contest to jump-start sales, increase employee motivation and create some fun! Open the store and close the store with a “dance off” – louder than normal music, dancing while cleaning, laughing, etc – all while you prep and close for the day. Surprising your employees with an extra “perk” is always nice, too. Whether it’s a quick coffee run to your favorite local coffee shop (on the store, of course) or giving employees a pair of movie tickets for a job well done, the ideas are endless. It can even be fun to leave your employees guessing – wondering what Saturday or Sunday will bring… yet knowing it will bring something “extra”.

Employee appreciate goes a long way, and certainly appreciating yourself does, as well. So make sure to take it up a notch every now and again… or even every weekend… to keep your spirits lifted and your job fun!

Thank you for your support! We look forward to introducing you to the only retail lifestyle publication in the marketplace – filled with news, education and support for boutique businesses!

Learn more at www.retailminded.com/magazine

Closeouts are available in many product categories, including clothing, home decor, footwear, accessories, toys and more. They are essentially divided into two categories – salvage items and job-outs. The first category we look at is salvage product. Salvage merchandise consists of customer returns, floor damages and samples. Due to this mixed assortment, some items may be damaged – however damageable does not always mean unsellable. This will depend on the product and the damage. That said – the majority will not be damaged.

The second category of closeout merchandise is job-outs. This category identifies items that were already on a retail floor somewhere and did not sell. As a result, their cost has been reduced for a quick sell to another retailer and ultimately, to a new consumer audience. Like salvaged products, there is a chance for damaged goods. But the percentage is much less – often less than 5%, though as high as 10% has been reported from retailers we’ve spoke with.

One thing to understand among most closeout purchases is that you typically buy in bulk. For example, you may buy 100 total units versus four 6-packs of a specific item. The bulk buy you make is almost always assorted with a variety of items. For example, you could buy a 100 assorted buy of t-shirts from at least ten different total vendors. Or you could buy 100 total units of mixed accessories such as headbands, barrettes, bracelets, rings and more. A closeout dealer will be able to identify a lot of what each bulk, assorted buy has to offer – but there will always be a bit of a surprise when buying closeouts. For many, that is part of the fun! For others, this may be where they get stuck in the buying process. Luckily, there are great resources for this that alleviate a lot of the questions about buying closeouts. One site to look at is Merchandize Liquidators, who do a good job at delivering quality closeout products.

Many indie and small retailers shy away from closeouts simply due to their lack of understanding or even the “bad rap” that closeouts sometimes have. Our advice? Consider what is best for you. Closeout liquidators exist because it has proven to be successful for many retailers to buy from.  Among these include a lot of small, independent retailers that blend closeout buys into their total store inventory – without customers or even staff knowing any different. It’s very possible you shop a boutique that sells closeouts and you don’t know any different, as well.

Have we made you think twice about your buys or where you shop? Let us know!

Below are some suggested topics to introduce at your next employee meetings.

1. Returns & Exchanges

Sure, your team may know how to return a product. But do they know the best strategies to make an exchange instead? Often, reviewing some ways to turn a return into another purchase can help overall store sell thru. Additionally, reminding your team of any issues that stem from returns is always a good idea. Another topic to discuss? Your actual return policy!

2. Store Theft & Shoplifting

Unfortunately,  store theft isn’t going anywhere. It’s important to be realistic in understanding that theft not only happens by customers – but also by employees (gulp). As manager, you should have clear standards in employee bags going in and out of your store, as well as set standards on how your employees keep an eye on customers in the store. While discussing this at a meeting is great, many stores also benefit from posting these expectations in a common area for employees to review reguarly.

3. Overall store safety

Even the most seemingly safe stores still should have a plan in place “just in case”.  Whether an employee slices their finger pretty bad opening a new box of inventory or a customer comes in and creates an elevated problem, your entire team should know what to do. Have important contact numbers by the cash wrap / store phone, as well as encourage everyone to program important numbers in their cell phones. Nearby stores, local police and  of course, 911, are all numbers that should be easy to locate. Additionally, having a first aid kit on site can’t hurt, either.

4. Product Knowledge

A fun excuse to have employees to get together for a meeting is to gain new product knowledge. Almost all products in the market have some value to understanding them – whether it’s the contents of clothing, function of performance footwear, details about a new technology product, overview of seasonal foliage or more – employees always should be educated about what their selling. Additionally,  this is a great excuse to get a vendor into your store when possible to help educate your team on the product they rep.

5. Special Events

These are “special” for a reason, and deserve that extra TLC to prep for. This includes attention during meetings that allow your entire team to understand expectations during these events. Reviewing their roles, contributing roles, special sale details, local community details and anything else that is evolved in your “special” day is important.

At the end of the day – and particularly a retail work day when someone has been on their feet for 8 plus hours – no one wants to waste their time talking about what may seem pointless. Knowing this – and respecting this – it’s also a good idea to keep employee meetings fun while also informative. Order in pizza, have a little game to kick start the meeting or offer employee “prizes” based on their recent successes in your store. The ideas are endless since each store has unique issues, unique employees and unique assortment. Another thought? Have a morning meeting while everyone still has the energy to give their best.

If you’re being social in the online world, it’s likely you are doing so that you can make money. Am I right? In order to do this, there are various elements of tweeting and posting that need to happen in order for you to actually reach this goal. To start, you need a purpose.

What’s Your Goal?

Want to increase your e-commerce sales? Hope to get more store foot traffic? Looking to gain new clientele? Whatever your goal – or goals – are, support them responsibly through your social media actions. Check out our five point guide to being social with a purpose:

1. Know what you want. This means identifying why you tweet or why you post. This also means identifying what you don’t want from social media.

2. Stay focused. Don’t get lost in the clutter social media can bring to your world. Stay focused on what it is you want to gain from it. Remind yourself everyday if you have to, or give yourself a time limit to tweeting or posting on Facebook or LinkedIn. Don’t waste time by clicking on every post or pop up you see just because you can.

3. Identify ideal posts & tweets. This means getting rid of all the extra tweets, etc. that don’t relate to your goals. And  I’m not talking about other people’s tweets. I’m talking about yours! Be known for business, not your personal life, if that’s what you want.

4. Engage with others. No matter what, engaging is a part of social media. That’s why it’s called social. So just because you want things from people – such as them buying something from you – you must engage with your social media world in order to build relationships. Think of it as online customer service.

5. Be consistent. There is nothing worse than being lazy when it comes to social media. If you choose to make this a part of your marketing and sales plan for your business, then step up to the plate and do it regularly. Think of it as weight loss… if you eat a giant pizza then only lettuce the next day then pizza again the third day… will it work? Nope. It’s the same thing as social media. Consistency is key.

Finally, be realistic. If you know social media isn’t for you, consider hiring someone to do this for you. Some of you may even be okay eliminating it entirely from your business – though this isn’t ideal since we are living in a world where social media is only growing, not going away. Baby steps first, though. What’s your goal?

To help kick start my 2012, I have decided against resolutions and goals but instead created a target list of accomplishments I want to reach. Somehow this makes my efforts seem more realistic and exciting versus challenging and dreaded. Among these target accomplishments include not only launching the premiere of Retail Minded Magazine, but growing the magazine beyond the first year. This means that this time next year I need to still be working on the magazine! Of course, to reach that mark I need to make sure you – my readers, clients, industry partners and friends – are into it. You have to love it. I want you to love it. So that alone is a different accomplishment I want to conquer. If you’re up for helping, please stay in touch along the way! Let me know your thoughts and ideas about Retail Minded Magazine. They are always welcome!

Beyond the magazine, I want Retail Minded to reach more retailers, more wholesalers and more industry insiders than it is now. This will include a Facebook Page – finally – and many other marketing avenues that have not be tackled before. This also means accepting I can’t do it alone, which is why I am thrilled to have already met one of my target accomplishments for 2012 in creating a team to  help Retail Minded thrive! Check out my Retail Minded newbies here – but don’t be fooled… they are hardly newbies to retail. These guys know their stuff and have so much to share with everyone!

As any retail pro knows, retail hardly closes it doors just because the “CLOSED” sign is up. We work 24 / 7 creating concepts, developing brands, finding new customers, marketing our businesses and more. With this in mind, I have a few accomplishments I hope to meet this year that will keep me happy and healthy so that I can continue to work, raise my children, love my family and enjoy life! It’s all about balance, so if I have to sneak out in between appointments to get a work out in – I’m doing it. And if my daughter’s ballet is at 10am on a Friday, I just may need to take some time off to attend that, as well. After all, I don’t mind working late!

While my list continues, you get the idea of what’s in store for me. So I’m curious… what’s in store for you? Whether you are opening your first store in 2012, want to finally create an e-commerce site or expand your current inventory assortment, let me know what’s to come. This can help us help you – which is the top accomplishment I hope to achieve in 2012.

As always, you can contact me at nicole@retailminded.com or comment below. Additionally, follow me on Twitter at @RetailMinded.

Wishing you all prosperity and happiness in 2012 – but most importantly, health.

Happy 2012!

Nicole Leinbach Reyhle

Founder / Editorial Director / Consultant / Writer / Speaker

Founder and Editorial Director

Nicole Leinbach Reyhle is an experienced retail and wholesale professional who has worked with such companies as Adidas America, Sears Corporation, Franco Sarto Footwear, Nordstrom and many independent retailers and wholesalers nationwide. After holding both regional and national management roles, Nicole founded Retail Minded in 2007 as an effort to support independent retail focused businesses throughout the United States. Since then, Nicole has worked with national retail organizations, privately held brands, countless retailers and wholesalers and leading experts in various retail sectors. She is a frequent contributor to a variety of retail trade publications and speaks regularly at conferences and expos worldwide. Her passion for independent businesses is the driving force behind Retail Minded, which includes support through consultation services, trade writing, and speaking. The Retail Minded Magazine is the real passion of Nicole, combining the expertise of her own experiences and her many trusted industry sources in an effort to help small businesses thrive. In addition to Retail Minded, Reyhle teaches Retail Curriculum at Columbia College Chicago. She resides in the Chicago area with her two young children, her husband Eric and their dog Jazzy. She loves hearing from Retail Minded readers! Reach out to Nicole at nicole@retailminded.com.

Managing Editor

Julie Johnson Hillery began her retailing career as soon as she was old enough to work. While her primary experience is in management and buying for independent boutique retailers, she also has wholesaling and merchandising experience with nationally-known companies such as Revlon, Inc. After many years in the industry, she received her Ph.D. from the University of Wisconsin-Madison, and has since published and presented numerous papers on retailing worldwide. Currently, Julie is a professor at Columbia College Chicago in Fashion Studies. She has received numerous teaching awards and is especially interested in the professional and career development of her students. Additionally, she has co-authored two college textbooks, Careers! Professional Development in Apparel Merchandising and Ethics in the Fashion Industry. She also is the owner of Heart and Stole, a small start-up company offering hand-crafted accessories. Julie is especially thrilled to join the Retail Minded Magazine because it blends two of her real passions: retailing and education. She resides in the Chicago area with her husband Robert and their two rescue dogs Newgi and Nell. Contact Julie directly at julie@retailminded.com.

Creative Director

Robert Hillery has always been passionate about art and design. As a licensed Architect, his professional career includes work at several nationally-recognized firms in Chicago. Driven by his creativity, he founded his own graphic design studio, high medium, in 2003 and has a national client base. Among his clientele are retailers, architectural firms, corporate leadership programs, hospice providers, and historic preservation organizations. His design vision extends beyond the parameters of graphic design and seeks to provide art and style that communicates.  Robert uses his talent to apply creative solutions to civic involvement and has been recognized numerous times for his volunteer services.  In addition to donating hours of his design talent, he remains active with his hometown city’s Beautification Committee and has held many other distinguished, local roles to support his community.  He is especially excited to join the team of Retail Minded Magazine because it gives him the opportunity to channel his creativity into a medium that is both visually and intellectually appealing. He resides in the Chicago area with his girls, Julie, Newgi, and Nell. To contact Robert, please email him at robert@retailminded.com.

PR Coordinator

Sarah Katherine Ryan is a Chicago based publicity guru who loves everything to do with retail, fashion and PR. Her eagerness to share news, ideas and more is admirable, and Retail Minded is thrilled to have her join the RM Team. Contact Sarah directly at press@retailminded.com.

In addition to our talented team, we are thrilled to have an outstanding Advisory Board and a variety of industry  experts contributing to Retail Minded Magazine. We look forward to introducing you to everyone in our premiere issue, debuting in late January 2012. Subscriptions are available at www.retailminded.com/magazine.