Marketing Tip of the Week – What Every Retailer Should Know

There are many things you must know about your store and the business. You’ll learn about guidelines, marketing rules, and selling strategies. Also, you’ll understand what works and what doesn’t work for your store. This week’s marketing tip will focus on what every retailer should know.

Find your niche – Trying to target multiple type of consumers can definitely hurt you. You’re spread too far. Find one or two niches that work for you. That way, you can target your market correctly.

Be realistic – Don’t buy products because the wholesaler tells you it’s going to fly out the door. Before you purchase your products and are unsure of it, check to see if other competitors are carrying it, the product is on trend, and check the sales figures.

Negotiate – There are many merchants out there. So, shop around and compare rates. Negotiate so you can get the best prices for you and your customers.

You can get rid of customers, products & reps – Don’t keep anything around that is bringing your business down. Don’t be sad to lose a customer because they have unrealistic expectations, to get ride of a product line because only one person buys from it, or let go on a sales person because they’re not doing their job.

There are many things to know when you have a retail store. You’ll learn and pick up on new things as you go. However, keep these few things in mind on a day-to-day basis.

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