Give Your Retail Buyers Credible Feedback

August 23, 2012

Today’s retail fundamental is: Buyers need credible feedback.

Your  Buyers in your retail operation may be incredibly talented…but, whether they are or not, they certainly aren’t mind readers. Whenever they  purchase goods that will be available for sale in your company’s stores, they put all of their acquired skills, talent and experience to work. It’s their job to get the right merchandise into the stores at the right time and price it just right – the price that will appeal to customers while still getting the best margin they can. 

Let’s face it…that’s got to be tough. And their mistakes will always be noticed. Their mistakes are sitting around in the clearance section for all to see.

So, Regional Managers, District Managers and store personnel need to do their part to help out.

How often have you heard Sales Staff complaining that the Buyer’s don’t know what they’re doing and the Buyer’s complaining that the Sales Staff don’t  know how to sell? It’s very common.

Anyway, from a Store Operation’s perspective, just know that once the goods arrive in your store(s), you have to take ownership of them. What else are you going to do?
Your company already bought the goods and it’s your job to get everything sold.

First, and foremost, you have to make sure that all your store personnel are up to speed with product knowledge; they have to know all the features and benefits. And, of course, the merchandise needs to be displayed properly, etc.

Ideally, you sell out at first price! Discover how.

In that case, your Buyer will likely get the picture without much feedback from you. They have numerous reports that show them what is moving and what isn’t. 

If it’s not obvious, and if you happen to know why a particular item was so popular, it’s a good idea to pass that information along.

However, if you have difficulty moving the merchandise despite all of your best sales efforts, it may mean that there’s actually something wrong with the merchandise; something that the customer is not happy with. You have to figure out what that something is and ensure the feedback gets to your Buyer. After all, you’re in the best
position to know.

If you don’t provide credible feedback and more of that same or similar merchandise is purchased, the company will be less profitable than it could be. And no one wants that.
So, keep notes regarding the merchandise offered for sale in your store – good and bad – and make sure it gets to the right people. Set up a process for reviewing merchandise at store/district level. And, remember to always give honest, unbiased feedback; be impeccable with what you say. Your Buyer  has a big job to do, too!

To your abundant success,

Leon Skaliotis – Founder, Retail Fundamentals.

Leon is an accomplished retail specialist in Melbourne, Australia, who  successfully coaches Melbourne retail owners on how to create highly profitable businesses by attracting shoppers and converting them into loyal fans.

To receive your complimentary copy of “Retail Secrets Every Owner Should Know” click: www.retailfundamentals.com.au

You can contact Leon Skaliotis direct on (+61) 0425 83 3344  or email: leon@retailfundamentals.com.au

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