My retail store isn’t very profitable – what should I do? 

  1. Review your strategy! 
  1. Be super clear on the customer segment you are appealing to. 
  1. Buy your product to suit this customer 
  1. Visually present the package to encourage interest throughout the store/website 
  1. Create a trading plan to understand the highs and lows of the season and how you will attract footfall 

Strategy is important to ensure you can stay on track and true to your business. It is very easy to get caught up in the next new thing however if this isn’t consciously considered as part of your retail strategy you could be making expensive unprofitable mistakes.  

Each retailer has a different trading season, it is paramount to have a clear picture for your business and plan accordingly. Quite often too much stock is purchased and delivered at the start of the season, reducing cashflow. This can also reduce the seasonality of your store and the return visits of your customers. 

MIn2Max can help! We can conduct a deep review of your business and find the opportunities that you might be missing. 

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