If your year-on-year sales are not down in your retail business, this advice is not for you.
If your year-on-year sales are down, something must change if you want to turn the situation around, please read on.
Sometimes, when we are asked by retailers how to deal with a year on year sales decline, our suggestions are not taken up and the business keeps doing what it was doing. In doing this, the declining trend will continue.
We appreciate it can be challenging looking outside of the fog of declining sales and worsening business performance numbers. However, if you cannot reach out beyond this fog the survival of the business is at risk.
Here is the most important statement relating to our advice:
If you keep doing what you have been doing, the sales results in your business will be what they have been, the trend is unlikely to change.
It would be a mistake to think that external factors are the sole reason your sales are down.
So, change is necessary – change in what you sell, how you merchandise and how you promote.
It is only from change that the sales decline could be arrested and reversed.
Our advice is to look for u-turn or right turn opportunities, changes you can implement to divert you from your current path.
Suggesting such changes is something we can do through looking at your business performance data for you. Ask us to challenge you. We will first ask to see your year on year data at a detailed level as this will reveal the truth of the situation and from there we can develop change suggestions for your consideration.
Why ask a POS software company? We see data from many different businesses. That perspective can help. We are retailers too and have been for decades. That provides a body of experiences on which we can draw in considering advice we can provide. We will gladly leverage our experiences to help in any situation.
We don’t have all the answers, we will even suggest ideas we later discover are mistakes. However, doing what you have been doing in a situation of declining sales is a bigger mistake.
Can we help?