I once had a wart on my finger, and a good natural products retailer friend of mine suggested liquid selenium, which cleared it up within days. My business has warts, too. My desk can be messy, I am behind on my reading and there are many more opportunities to take...
Improve your store, one idea at a time.The pace of retailing is breathless. You have a mile-long list of “to-dos,” and three feet of runway. You are not really in control of what happens today, or any day. Customers, order deadlines and deliveries drive the tempo, and employees who don’t...
In my July 2013 Merchandising Insights column, I outlined a strategy to help independent natural products retailers create more competitive retail pricing while preserving healthy profit margins. The strategy rests on identifying vendors—usually direct vitamin lines—that offer ongoing wholesale purchase discounts. Several of you subsequently contacted me to discuss pricing,...
How to protect your profits as you maintain competitive prices.Truth #1: Competition tends to reduce profit margins by putting downward pressure on retail prices. Truth #2: The more competition, the greater the pressure to lower prices. Truth #3: A growing industry will attract more competitors. Are you feeling pressure to...
How do independents get the most out of a busy trade show? Editor’s Note: In talking with retailers about what goes into making important business decisions like selecting inventory, we thought it would be interesting for retailers to hear from colleagues about their experiences attending a large trade show. We...
Health care is changing. Are you? The full implementation of the 2010 Patient Protection and Affordable Care Act (AKA ObamaCare or ACA) is set for 2014. Insurance companies, hospital systems, doctors’ groups and related health care stakeholders, including chain-store pharmacies and even conventional supermarkets, are scrambling for position in this...
Customers see your store as a brand—even if you don’t.In seminars around the country, I ask independent natural products retailers if they believe their store is a distinct brand. Usually only a few raise their hands. But even if you don’t think of yourself or your store as a brand,...
Every calendar quarter, public companies provide guidance to Wall Street to explain recent performance and project future results. In these quarterly telephone conference calls, investment analysts responsible for recommending stocks to their clients get to ask management questions to shed light on company strategy. While the “scripted” portions of these...
What WholeFoods Magazine’s 35th Annual Retailer Survey Tells Us.Last month, WholeFoods Magazine published its largest-ever survey of independent U.S. retailers representing nearly one-million square feet and $665 million in natural products sales. Retailers large and small, from every part of the country, responded to the survey questionnaire, giving us a...
It’s good to be big or small, but don’t mess with Mr. In-Between!For the third year in a row, I’ve been honored to assist in analyzing the data from WholeFoods Magazine’s Retailer Survey, which starts on page 20, and this year is outstanding! We’ve had the largest response in 35...
