Archive for the ‘Uncategorized’ Category

There’s an app for everything…

Thursday, September 30th, 2010

Apps

Apps

Following a consumer insight survey, Price Waterhouse Cooper are predicting a post-recession permanent change in shopping behaviour, with shoppers taking a more thoughtful approach to buying, rather than obsessing over deal seeking. Although they do admit that many of the new skills in money saving learned during the recession will still be used, such as price comparison websites, loyalty schemes and voucher collecting for example.

Heading out of recession, they predict that new spending groups will come to dominate in our stores. Generations X & Y as opposed to the Baby Boomers that spent their way out of previous recessions. Now if Generation X is a well known soft drink advertisement to you, hold on for a quick run through the demographics.
Generation X are aged from 29 to 45, while Generation Y are aged from 10 to 28. The top end of Generation X is in the middle of a high spending stage in life, and Generation Y has a willingness to spend, especially on new technologies – Which won’t be news to anyone who’s part of the new App age !

Coming out of this recession, customers are expecting to buy differently, across many channels, so they may buy in store, on-line, via a catalogue or through a third party, this “seamless shopping” is creating many challenges for retailers, How can we give our customer the same experience, availability and service from our brand however the consumer chooses to shop ?

In the very early days of ecommerce (that’s only around 10 years ago), multichannel retailing was almost unheard of. But it has since grown and developed within every retail sector - even clothing and fashion, which cynics said would never work online. Integrating systems using technology to maximise benefits is the new challenge.

Technology is a great leveller, small independent businesses can compete on a more level playing field with large stores, if they understand how to use technology to their advantage, and of course if they have the budget to fund it.

A good example of using technology to promote retail was recently launched in Wigan, where they are piloting a town centre trading push.

HometownPlus is designed to “get more people to visit their hometown more often and spend more money locally” by enabling consumers, using a smartcard or phone app, to access personalised offers and savings. This scheme is designed to complement, not compete with, retailer loyalty programmes.

Retailers and other participants in the WiganPlus debut project, will benefit from the opportunity to drive footfall, target promotions and access real-time shopping data. Independent stores are likely to be the first on board, but they hope that multiples will see the benefits and join too.

This scheme will receive £230,000 Government match-funding and comes in the wake of increased concern about the appeal of town centres. (Empty stores in town centres stand at 12% according to The Local Data Company).

I think that most of our towns could benefit from such a visionary scheme which treats the town centre as a live venue, promotes it and keeps it in the forefronts of shoppers minds.

Pro-active v’s Reactive

Thursday, October 29th, 2009

Proactive or reactive ?

Proactive or reactive ?

Pro-active v’s Reactive

Strangely enough, this is a definition I only thought about recently when my personal circumstances changed enough to make my usual manner of doing things begin to look a little ropey !

In business its pretty much accepted that proaction rather than reaction is what it takes to be successful – Moto’s like “seize the day” and “go for it” perfectly illustrate this. But being proactive is a skill like any other and it has to be developed over time. Its rather like just going to the gym once, there won’t be much benefit and you’ll probably strain something. So being proactive just the once will have much the same effect, you need to build up a system and a support network for it.

The definition of proactive is planning ahead and anticipating problems. Whilst the definition of reactive is waiting for problems to appear before dealing with them.

If you think about it, how much of your day are you a reaction to what is going on around you ? Grumpy customers? Having to do jobs that you don’t relish doing ? Calling the council ? Tackling staff about things they do that drive you crazy ? Setting budgets ? Dealing with things that you don’t like dealing with (whatever they may be for you ?)

Not dealing with things that you know are looming causes Stress, because at the back of your mind, you know its coming anyway….! Its also pretty unsatisfying, and leaves you in a kind of limbo where you can’t make decisions because you haven’t looked forward enough.

Being proactive can help eliminate problems before they appear, and since you can plan how to deal with things, you can act faster before all is lost ! Its also, believe it or not, less stressful, as taking control of any situation puts you in the driving seat, not the back seat, while the car slowly slides into a skid !

Being proative means planning what you want to do with your store, your staff, your stock, having budgets in place, advertising and marketing plans, and more importantly back up plans for when things just don’t go the way they’re meant to….. It takes a little longer and is a bit more effort, but the rewards are that you are in control, not buffeted by other peoples demands and caprices.

Being reactive is normally fairly stressful. You don’t know what’s coming up next, so you have to be ready for anything, and you’re not in full control of your life or your business.

So, just for fun, have a quick tot up of how much of your day is spent being proactive – or heading off next weeks or next months problems – so you’ll have a peaceful Christmas trading season - Go on, take the challenge and write down the list of 10 things that you know you should be dealing with, that you’ve been putting off :

1.
2.
3.
4.
5
6.
7.
8.
9.
10.

Now, make a plan for carrying out number one………. Keep it simple, put it in your diary and tell everyone what you’re going to do – that way you have to do it !

Strangely enough this simple system works almost all of the time

Good luck

Swine flu, retail and you !

Wednesday, August 12th, 2009

Swine flu

Swine flu

Sometimes in retail you’ve really got to wonder what’s going to come at you next? July & August were the months of the Swine flu crisis eroding consumer confidence.

Inspired by yet more sensationalist jounalism, the Swine flu pandemic panic swept across the country. Now, we all know that no more people are dying of Swine flu than normal seasonal flu, and if you’re vaguely healthy you don’t have much to worry about, yet this would be hard to believe from the headlines.

All year we’ve had to put up with all the scare stories about the economy terrorising everyone and now its another juicy story, with half the population smothering themselves in antiseptic handwipes (bet their sales results are wicked) As a result, footfall has been down, and as we all know you can’t sell stuff to people who aren’t in your shop. (although online retailers aren’t complaining !)

Flu in any of its forms is not going to quietly depart, so how many sick days can the nation take, hiding under the collective duvet trying to avoid it? Rising sick days isn’t a groovy prospect for retailers – It reduces customer service, possibly opening hours and sensationalist scare stories keep consumers away from usually crowded shopping areas, so most businesses would welcome a little more balanced reporting perspective.

So, where’s the good news ? Probably the best news around for importers & retailers is the recovery of the pound. In July 2008 the pound was worth $2.00, but by January of this year its value had sunk to $1.35 (which is a twenty three year low, just to put this in perspective) Earlier this month it recovered to $1.70, which is an absolute lifeline in a difficult year for smaller retailers and importers.

The big question now is whether the pound’s recovery will be a sustained one…?
Here’s hoping….!

Trademarks

Monday, June 29th, 2009

Trademark your business

Trademark your business

Trademarks are an important way to protect your business name, logo or style.

A trademark is a symbol or logo that distinguishes a product or service. The British Intellectual Property office deals with about 28,000 trademark applications a year.

Trademarks are believed to have originated from bakers around the middle ages. Once the bread was made, but before it was cooked it was stamped with a seal that identified the baker, so that he could be punished if the bread was not good or underweight, but if the bread was of a consistently high standard, he would generate a lot of goodwill towards his bakery.

Today a trademark can be a name such as Coke, or a symbol such as McDonalds famous Golden arches, or it could be a combination of the two - it can even protect a shape or a particularly distinctive colour.

For consumers trademarks allow them to make informed decisions about which products to buy, because different trademarks are associated with different qualities in a product. For instance a product from Volvo would be associated with the term “safety” in most consumers minds.

If you have an unusual store name or business idea its a good idea to look into trademarking it. This costs around £200 and takes approximately a month to process at the patent office’s headquarters in Cardiff. The office also have a fast track process for £85 that allows you to see if your mark is eligible or likely to infringe upon another previous mark.

Bear in mind when searching that trademarks are allocated per classification, so that for example working in steel would be a different classification to use in the gift trade.

You can search online for free for other similar businesses and logo’s to see if yours would be eligible for a trademark. A trademark is a valuable business asset and help with a positive business evaluation.

Once you have a trademark you can use the registered trademark logo, which effectively deters others from using your trademark and generating business from the goodwill you have developed in the running of your business.

Visit the office for intellectual property rights at : www.ipo.gov.uk for more information.

Happy Birthday to you, and me, and everyone !

Monday, March 30th, 2009

Using Birthdays to sell !

Using Birthdays to sell !


Going off kilter from my previous posts. It’s my birthday (well, it was yesterday) and as birthdays are a time of celebration and sometimes as we get older a little reflection, I started thinking about the role of birthdays in retail.

More specifically what can you do with birthdays to promote your shop or business? Most of us love birthdays, we try to prolong the event seeing friends and family over a week or so to celebrate, and that air of celebration is real because everyone knows how it feels to be the birthday boy or girl.

So there’s no reason why we couldn’t capture that feeling and widen the birthday net? After all you have a birthday each year, your shop has a birthday each year and so do your staff. So what am I getting at here?

Well, simply using birthday promotions as a part of your promotions plan for the year. We all build in Valentines day, Mother’s day, Easter and the like, so how about creating a shop birthday week? – You could mail out about this, you could send birthday cards out to your customers thanking them for their support, you could have a special event this week, an open evening, a small show, invite the press for an interview about how things have changed over the years? Have little birthday fairy cakes for customers, or get a cake made in the image of your shop and send a picture to your local paper, put out balloons and generally create a buzz around the event.

This will be good for you in quite a few ways. It promotes your shop in a positive light, it associates you with a celebration (can’t be bad in the current economy) gets you some press attention (for a very small outlay) and highlights your longevity (people think that you must be doing something right if you’re still here) it’s a focal point for you and your staff, and lets face it, its fun to have a birthday week. After all we celebrate milestones in our lives, our children’s and families lives, why not our businesses?

In monthly newsletters, you could pick a member of staff and have their pick of the month, or what they’ll be choosing from the shop to celebrate their birthday, or just a crazy birthday offer.

Then there’s your customers birthdays – Do you keep a record of them, if you do, how lovely to get a card from you on their birthday, much more personal than a Christmas card, more memorable and more unusual – How many birthday cards do you get from places you frequent – Not many I’m willing to bet?

Could you do birthday vouchers or small gifts for customers? Obviously you need to cost this out, but you’ll be surprised how something so small can generate good will for your business.

Birthdays are a great opportunity, they’re something everyone understands, they’re a cause for celebration and a brilliant marketing opportunity, so have a brainstorm about how you could capture the power of a birthday celebration and get some brilliant marketing from it, everyone loves a birthday story….

Happy Birthday to you , and me, and your shop…..!

Retail is detail, what creates change?

Wednesday, March 25th, 2009

Positivity is contagious !

Positivity is contagious !

Its fashionable in the Uk, to diss stuff, everything really from celebrities, we build them up and we knock them down, its sooooo predictable (except for a few stalwarts who are the nation’s favourites you gotta love Brucie !) to food, our roads, our weather - anything is fair game !

I don’t really understand this attitude – I really just don’t get it ! In my travels in other countries I don’t see this – I mean, sure they acknowledge their counties problems but they’re also proud of their countries – They certainly don’t do that knowing sarcastic half smile and then soundly trounce it !

So I got to wondering, why this is? I’ve been pondering this and I think its because we don’t like to raise our hopes because they’ve been dashed in the past. Children certainly don’t seem to ascribe to this cynicism, so it must come later. I think that by the time we’ve become what I’ll loosely term “grown ups” we’ve been kicked in the teeth a few times and probably learned to lower our expectations. Is it nature? Is it nurture?

I think its nurture because while there’s obviously individual differences in people, I don’t see other countries with this bizarre “mustn’t grumble” attitude of “well, it could be worse” Since when did – It could be worse become a reason to get up and go to work in the morning? It certainly doesn’t spur me into action.

There’s a raft of information on change, the individual, the crowd, the society, But what’s the actual tipping point?

Well, that something could be the “broken windows theory” which was the brainchild of Wilson & Gelling, who were criminologists, who argued that crime far from being a nature beating nurture effect was in fact due to the little things, so for instance, crime would be the inevitable result of disorder.

If a window is broken and left unrepaired, people walking by will soon conclude that no-one cares about the building and no-one is in charge. Pretty soon there’ll be more broken windows and this sense of anarchy will spread from this building to the street and beyond to the area. Sending the signal that anything goes and no-one cares, creating a downward spiral.

This is the epidemic theory of crime. It says that crime is contagious – just as a fashion trend is contagious, but here the tipping point isn’t a person or group of people it’s a thing – a broken window.

By the same measure positivity is also contagious. If you doubt me, walk down the street and smile at people – 9 out of ten will smile back at you, especially if you make it a big megawatt smile ! (the other one will be so shocked that someone smiled at them that their reactions will be delayed) So you just introduced some positivity into the world – with a smile. It didn’t cost you anything, its fleeting sure, but so is cleanliness, we have to work at being clean every day, why shouldn’t we work at being a positive contribution too.

So just for today, hang up your negativity hat and try to make everything that comes out of your mouth a positive phrase.

Try it, what harm can it do?