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Category Archives: Terrific Retail Insights

Appreciating the lifetime value of your customers

Appreciating the lifetime value of your customers
Following the Lifetime Value of a Customer blog post, Dean Scott got in touch to share an example which demonstrates the importance of focussing on this important measure. For many years Dean owned a successful newsagency in Subiaco, selling the business last year, and is now the Western Australian General Manager for the Australian Lottery…
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Would you like snail bait with that?

Would you like snail bait with that?
Add on selling, companion selling, related selling, suggestive selling.  No matter what label is used, it works. I was reminded of this when discussing the topic with some garden centre people recently – people who didn’t want to appear pushy to their customers, many of whom were regulars. I recounted to them an occasion when…
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9 Ways to compete in a tough retail market

9 Ways to compete in a tough retail market
Keith Ready shared a rather good article from Inside Retail on LinkedIn. It explores how some retailers are still growing and showing strong returns in difficult retail conditions. This begs the question: what are they doing and why are they not feeling the pinch? Whilst there is not one ‘silver bullet’, this article identifies 9…
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Advertising is like buying a draught horse

Advertising is like buying a draught horse
Menswear retailer Barry Souter has been in the retailing business long enough to have learned a thing or three about advertising, about what works and what doesn’t. Based in Christchurch, New Zealand, a wonderful city that has faced huge challenges in recent years, his MY Menswear store, like the people he serves, has remained resilient…
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9 Tricks Zara uses to give you a burning desire to buy their clothes

9 Tricks Zara uses to give you a burning desire to buy their clothes
Zara is one of the best-known and most successful fashion retailers in the world. Since opening their first store in Spain in 1975, they have grown to become an enormous, over 2,000-store chain, with a presence in 96 countries. I came across this fascinating article about the company titled 9 Tricks Zara uses to give…
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The psychology of price

The psychology of price
Expecting customers to make decisions based on rational thinking often results in lost opportunities and lost sales for all sorts of businesses. Let’s take a business we can all relate to, a retail store trying to entice customers to buy slow moving stock. Imagine you are this retailer and you ask your staff to prepare…
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Why I’m not loyal to my health food store

Why I’m not loyal to my health food store
Twice a month, every month without fail, my local health food store texts me and tells me I’m an idiot! How offensive is that? Here’s their actual words from the texts at the beginning of each month: “Super Tuesday Tomorrow so come on in and enjoy 21% OFF store wide excluding food, items already on special and some practitioner…
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What do you know about ALDI?

What do you know about ALDI?
I’ve never understood the success of ALDI, having checked out their stores over the years when visiting the UK and more recently in Australia, I just shake my head in disbelief. I do have two items, that I am thankful of that I specifically went into Aldi to buy. The first is an owl to…
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Big brands losing the battle with big retailers

Big brands losing the battle with big retailers
Here’s a link to a fascinating article by UK based international retail consultant Alan Treadgold on why established big name brands such as Kraft and Heinz are struggling. Many moons ago, when I first knew Alan, he was Director of the Australian Centre for Retail Studies at Monash University. His observations are always worth noting.
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Australian Retailing under the microscope

Australian Retailing under the microscope
It’s always interesting to see ourselves as others see us, so I read with interest UK Home Improvement and Gardening commentator Steve Collinge’s recent review of DIY and related retailing in Australia. The full article is well worth a read. Click on Disruption just around the corner. Below you will find a few facts and…
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