Consumer habits and expectations are changing faster than ever, and retailers need to keep up! Our hope is this newsletter will provide not only curated retail news, research and trends, but also actionable content on best practices developed over 30+ years of experience. We will only consider ourselves successful if we add meaningful value to your business, regardless if it’s large or small, physical or digital … we are here for all retailers!

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Competitive Differentiation for Retailers

It’s an old but true saying, “Retail is Detail”. There are literally a ton of moving parts that need to be managed to ensure success for any retail business. For physical retailers there is store location, design & layout, occupancy costs, staff coverage, and more. For online sellers, the “details” include user experience, shipping costs & accuracy, and more. All merchants must address product assortment, in-stock rates, pricing, customer acquisition costs and more. You get the point!

All of this said, there is one huge opportunity to separate your retail business from the rest of the pack, and that is CUSTOMER SERVICE. Every retailer preaches great service, but the reality is most are horrible about taking good care of their guests. Employees are often poorly trained, marginally motivated, lacking in product knowledge and generally disinterested in their jobs. When was the last time you were in a store or on a website and thought to yourself “wow, what a great experience!”? Therein lies the opportunity. Any retailer who can provide “good” (not even “great”) guest service will stand out above the crowd. The bar is truly that low.

Motivating your team to achieve this standard is not easy, but the effort will pay huge dividends. I always found that the first step in accomplishing any goal, including superior service, begins with ensuring your expectations are clear and understood by all. To that end, I wrote the following about 16 years ago. It certainly is not a solution unto itself, but rather a starting point to adjust behaviors that would require constant training, follow up and feedback (good and constructive criticism). But it worked! Take a look:

“As a member of our team, you play a critical role in the future of Celebrations! You will be challenged to complete a variety of tasks as part of your job, all with the goal of making our customer’s shopping experience an exceptional one! You will be responsible for doing many things beyond the Basic Expectations listed below. However, if you are to truly add value to our business, it is extremely important that you understand and execute these items all of the time.

Customer Service

YOUR FIRST RESPONSIBILITY IS TO SERVICE EACH AND EVERY ONE OF OUR CUSTOMERS, ALL OF THE TIME, IN AN ABSOLUTELY EXCEPTIONAL WAY! TREAT THEM HOW YOU WOULD LIKE TO BE TREATED!

Read and understand the Customer Service Guidelines brochure. Address all questions you may have to any member of management or any other team member.

Greet every customer! Smile, make eye contact and say “hi”. Never let a customer pass you by without acknowledging them!

Take customers to the item they are requesting! Hand them the item, never point. Suggest alternative options if we do not have the exact product!

Always suggest tie-in items (birthday candles with party plates; tape with gift wrap; candy, stick and blind fold with Piñatas, crayons with coloring books, etc.)!

Cashiers must always call for an additional register to open before there are four people in line.

Cashiers must always swipe the customers Celebrations! Savings Club card at the beginning of every transaction.

If the customer does not have one, always suggest a customer signs up for our Celebrations! Savings Club! It’s free! Please note it is critical to get the customer’s e-mail address when signing them up. We are sending coupons and special offers via e-mail only

Thank the customer (by name if your know it) and invite them to come back soon!

Ensure you are familiar with our various programs and discounts so you can accurately communicate them to customers:

Celebrations! Savings Club (customer joins for free and will get special discounts in store and e-mail offerings of additional special offers)
Low Price Guarantee (we will match advertised prices with proof of current ad; excludes clearance and percentage discount ads)
100% Satisfaction Guarantee (we will gladly accept returns for any reason within 30 days of purchase with a receipt. Some seasonal exclusions apply)
Organizational Discount (schools, businesses and other organizations receive 15% off any purchase of $100 or more and 20% off any purchase of $200 or more. Some restrictions apply)
Teachers and senior citizens receive 10% off all purchases
Special Orders
Celebrations! “TO GO” (customer can call or fax in an order for pick up at a later date)”
Retail News & Happenings
US Economy Is Making ‘Dramatic Progress,’ Says NRF Economist
https://petsplusmag.com/us-economy-is-making-dramatic-progress-says-nrf-economist/?oly_enc_id=0373H5162145J2E
Easter And Spring Season Refresh U.S. Retail Spending
https://seekingalpha.com/article/4417364-easter-and-spring-season-refresh-us-retail-spending
McKinsey: Retail speaks: Seven imperatives for the industry
After a year like no other, the US retail industry faces a still-uncertain future. Our latest research highlights seven imperatives that will position retailers for success—regardless of what is next.
https://www.mckinsey.com/industries/retail/our-insights/retail-speaks-seven-imperatives-for-the-industry?cid=other-eml-dre-mip-mck&hlkid=a774e1a8976d4a078406df70a8406fd5&hctky=2993324&hdpid=6fb7babb-8804-4c99-baba-fe92e8c938fa#
NRF: Top 50 Global Retailers 2021
https://nrf.com/resources/top-retailers/top-50-global-retailers/top-50-global-retailers-2021
Incoming Amazon CEO Andy Jassy on why remote work hurts innovation: ‘You don’t riff the same way’
https://www.geekwire.com/2021/incoming-amazon-ceo-andy-jassy-remote-work-hurts-innovation-dont-riff-way/
The online shopping feature which has grown in importance the most is…
https://chainstoreage.com/online-shopping-feature-which-has-grown-importance-most?utm_source=omeda&utm_medium=email&utm_campaign=NL_CSA+Day+Breaker&utm_keyword=&oly_enc_id=2449D4960023H6V
Toilet paper prices to rise: Maker of Cottonelle, Scott brands plans to increase prices
Commodity cost increases could impact the cost-of-goods in many categories
https://www.usatoday.com/story/money/2021/03/31/toilet-paper-prices-cottonelle-scott-viva-brands/4824863001/
Mega-discounter Crazy Cazboy's puts unique spin on closeout retailing
https://chainstoreage.com/mega-discounter-crazy-cazboy-puts-unique-spin-closeout-retailing?oly_enc_id=2449D4960023H6V&utm_source=omeda&utm_medium=email&utm_campaign=NL_CSA+Day+Breaker&utm_keyword=
Cool Pics
New Psycho Bunny store design….
Single price points create impact….
Love the use of color….
Quote of the Week:
“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison
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Finally, please reach out to me anytime with feedback, questions and ideas for future content via e-mail at abailen@3PeConsulting.com.

All Things Retail

Welcome to the All Things Retail Newsletter