A gift shop owner told us about the 28% increase in sales – on the back of a 17% increase the year before.
This is no accident. They planned for it by carefully looking at their business data and shedding products that were not working. They adjusted opening hours too as they discovered business later in the day that they had not realised was there. This knowledge opened them to opportunities for last minute shoppers.
The owner of the business decided to chase success because the turnover was barely enough to cover rent, wages and the loan taken out to fund the business. It was grow or bust.
They planned for success by using their business data.
Sales data guided them as to the suppliers of the best to focus on. One employee was eased out of the business for failing to achieve minimum sales targets.
The owner spent more time on the shop floor selling to achieve minimum margin dollars per sale rather than just chatting with shoppers.
The result shows what can happen when you focus on being a retailer.