Retail Growth Hacks: Proven easy-to-implement ways to grow

Name: Retail Growth Hacks: Proven easy-to-implement ways to grow
Rating: 4.7 (24 reviews)

I will show you a range of low-cost, easy-to-implement practical steps to growing your retail store

Created byPaul Watkins

Last updated 4/2022

English

What you'll learn

Learn practical, low-cost, easy-to-implement ways to grow your retail business
Learn how to compete with online discounters
Learn 'hacks' on how to grow the amount customers spend in your store
Learn about trends in retail and the impact of the pandemic

Course content

8 sections • 30 lectures • 1h 46m total length

Introduction and how to use this course2:26

Introduction to growing the customer spend part 10:29
Explore growing your customer spend before growing customer count, by optimizing store layout and merchandising to present products effectively and encourage higher spend.
How to best layout your store7:59
The fallacy of the large range2:37
The 80/20 Rule3:32
Merchandising on USE2:30
merchandise by use, not brand, grouping products for stress and fatigue and cereals like cornflakes and muesli by use; avoid brand-blocked shelves and cardboard supplier displays.
The importance of shelf location1:53
Dumping dead stock3:36

Growing Customer Spend Part 20:21
Pricing6:07
Price products by benchmarking against competitors, avoid being the cheapest or the dearest, and present clear, easy-to-compare prices to influence buyer perception and boost sales.
Encouraging self selection4:26
The influence of urgency1:38
Tell me WHY not WHAT4:07
Emphasize what's in it for me, not the item, by communicating emotional benefits and personal value to drive retail growth.
Words that sell2:56

Growing customer numbers part 10:32
Grow your customer count by applying proven promotional activities and loyalty programs that bring in more customers in the first six and encourage them to return.
What NOT to do if your customer count is down!4:13
Do not discount to recover customer counts; margins must stay around 30 percent. Focus on existing customers by increasing their visit frequency, turning loyalty into growth.
The 'Perfect Promotion'5:51
Discover the perfect promotion: a 100 percent measurable, pay-for-performance strategy that relies on social media. Learn to target audiences by location, demographics, and interests, and pay only for engagement.
Do loyalty programs work?5:59
Your greatest asset5:58
Email is NOT dead2:41

Growing customer numbers part 20:21
What is the customer's problem?4:35
Identify the customer's problem quickly by asking targeted questions, then guide them to the right solution to boost sales and build trust.
Be the GURU - educate your customers4:46
Become the guru by empowering staff to educate customers through authentic video content, leveraging social media and YouTube to showcase expert insights and practical how-to guidance.
The Impromptu seminar2:20
Deliver quick, impromptu in-store seminars that demonstrate products and answer questions, drawing crowds and boosting sales across any retail setting; capture and share the demo on social media for reach.

Requirements

Description

Lockdown has had such a catastrophic impact on retail that many stores have not reopened. But for those who have, and ones that were not affected, it is critical to have a clear growth strategy.

Millions of people bought goods online for the first time and enjoyed the time-saving experience. How does this impact on bricks-and-mortar stores? Add to this the dramatic impact of social media as the main source of news now.

This course offers ways to grow the profits of your retail business in the increasingly challenging trading environment. While some of the ideas are new, some are tried and true, but which now need to be approached with a renewed vigor.

In this course, you will learn:

The 3-part formula for growing a retail business - being growing customer spend, growing customer numbers, and growing gross margin on the items you sell
Practical, inexpensive, easy-to-implement ways to grow your store profits
How it's the 'little' things that can make the biggest difference
Why having a strong online presence is now critical to all retail (and not expensive to achieve)
Videos in this course are short and each one can be isolated for use at a staff training session

Who is Paul Watkins? I have owned and franchised a retail group as well as co-founded a retail support group. I have seen the good, bad, and ugly of retail growth efforts, and if one thing stands out, there is never a 'king hit' that will double customer numbers. Sustainable growth comes from incremental improvements in the key areas that are easy to control. I have won national awards for marketing and have been a consultant and conference speaker to retail for over three decades.

This course is light on theory and heavy on practical tips and growth tactics. I'd love to see you in the course and hear your feedback.

Who this course is for:

People who own or work in retail

Retail Growth Hacks: Proven easy-to-implement ways to grow

What you'll learn

Explore related topics

Course content

Introduction and how to use this course1 lecture • 2min

1. How has retail changed?4 lectures • 17min

Section 2: Growing Customer Spend Part 17 lectures • 23min

Section 3: Growing Customer Spend Part 26 lectures • 20min

Growing customer numbers Part 16 lectures • 25min

Growing customer numbers Part 24 lectures • 12min

Improving your Gross Margin on items sold1 lecture • 6min

The final video1 lecture • 1min

Requirements

Description

Who this course is for: