“The petty man is eager to make boasts, yet desires that others should believe in him. He enthusiastically engages in deception, yet wants others to have  affection for him. He conducts himself like an animal, yet wants others to think  well of him.” Xun Zi,- Chinese philosopher

FROM THE AUSTRALIAN  COMPETITION AND CONSUMER COMMISSION (ACCC):

Price comparisons that contrast a higher previous price to a lower current or sale price will breach the Australian Consumer Law (ACL) if any represented savings are not real.

 Businesses often make comparisons between product prices being charged or promoted as part of a sale and:

  • the company’s own previous pricing (including by ‘was/now’ or ‘strike-through’ pricing or by specifying a particular dollar amount or percentage saving)
  • the ‘cost’ or wholesale price
  • a competitor’s price
  • the recommended retail price (RRP).

 Statements such as ‘Was $150/Now $100’ or ‘$150 Now $100’ are likely to be misleading if the specified, ‘Was’ or ‘strike-through’ prices are inflated beyond what those goods would have been purchased for during a reasonable period immediately before the commencement of the sale.

How long this reasonable period is may depend on factors such as:

  • the type of product or market involved and
  • the usual frequency of price changes.

 Similar considerations apply to the specification of dollar amount or percentage savings.

 Misleading comparisons

 Comparisons between ‘cost’ and ‘sale’ prices can be misleading if the specified ‘cost’ price is greater than what the business paid for the goods. Consumers may be more likely to purchase goods if the gap between the wholesale and retail price is perceived to be smaller than what it actually is.

 Conduct may also be misleading where, for example, price comparisons are made with a competitor’s price for identical goods, but the stated price is taken from a different market or geographical location.

 Advertisements or promotions of ‘savings’ or ‘discounts’ in comparison to the RRP of goods and services may convey to potential customers they are getting a good deal because the prices are less than the RRP. If the product has never been previously sold at the RRP, or the RRP does not reflect a current market price, then advertisements using this form of comparison may, depending on the circumstances, misrepresent the amount of savings.      

 Tips for displaying two-price advertising      

 It is good business practice and fair trading risk management to keep records substantiating any two-price claim.

 It is also important to remember that a ‘sale’ or ‘discounted’ price should only be available for a limited period. This is because if a reasonable amount of time has elapsed and an item is still ‘on sale’, the discounted price effectively becomes the new selling price, so it may be misleading or deceptive to continue to call it a ‘discount’ or ‘sale’ price.       

 

To your abundant success,

Leon Skaliotis – Founder, Retail Fundamentals.

leon 2Successfully helping retail owners in Melbourne Australia apply the most effective principles ever discovered, to create highly profitable businesses.

Take the next step… If you want to know how to attract more customers to buy from you, get on board my individually tailored retail programs. If you want to build a  retail business with more loyal customers, now is the time to build momentum and make this year your best ever. You will be ecstatic at how easy it can be to attract and keep more customers. The fast working principles from my exclusive programs, My Retail Success and The Outside In Method come with a 100%  SATISFACTION GUARANTEE! Discover quickly and easily how to :

  • Attract and Keep more Customers
  • Substantially increase your Profit
  • Increase the Value of your business
  • Free more of your Time

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

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

 

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“A business absolutely devoted to service will have only one worry about profits. They will be embarrassingly large.” – Henry Ford

ARE YOU CERTAIN THAT ALL YOUR customers are completely happy? If you are not, why not? The most important responsibility you have as a retail owner is to make certain that every single person who comes into contact with your business isn’t merely satisfied; they have to be delighted. In the majority of cases, the sad reality is that customers are left with either a feeling of apathy or disappointment. Here are some personal examples.

While giving me a haircut last Wednesday, my hairdresser told me that she had been invited to a wedding and needed to buy a gift. “Why don’t to you try to find something from Myer” I suggested. “You can never find anyone to serve you”, she replied. I have heard this same complaint before. I have heard it too many times… and this situation frustrates me because I care about Myer and I expect it to be better. What is the point of spending even one dollar to attract customers only to disappoint them when they try to buy from you?

Last week I applied to have my home phone number entered into the Do Not Call Register. Many of the nuisance calls I received were from phone companies trying to offer me a better deal. The key point here is that at no time to receive a call from my existing phone company!  Optus CEO Kevin Russell was refreshingly frank when interviewed on the ABC’s Inside Business this weekend.

Mr. Russell described how the commonly used customer metric, the net promoter score, showed support for Australian telcos had continued to plummet. He said five years ago the average for the Australian telcos was minus 31, and now it is minus 41. In the UK the score has risen from minus 18 to plus 20, and in the US from minus 19 to plus 24. Optus’s score was slightly better than the Australian average at minus 24.

 “It’s better than the industry … we’re arguably the best of a bad bunch,” he said. “It’s not good enough. “Three things we got wrong. I think the whole market has chased customers, we’ve chased sales ahead of looking after existing customers and at times that has meant that new customers frankly get better deals than loyal existing customers. “Sales… have not been controlled as tightly as they should have been, and I think too much investment has gone into buying customers and not enough investment into improving service.” I can only wonder how Kevin Russell’s predecessor, Paul O’Sullivan and the rest of the Optus management hierarchy, – and for that matter the management hierarchy of every other Australian telco – can justify their extremely inflated salaries.

Finally, let me leave you with this thought.

According to the ABS,  cat. no. 4102.0 –  Australian Social Trends, March Quarter 2012, in 2010, the median length of marriage before separation was 8.8 years. IF A COUPLE, presumably deeply in love, stands in front of their nearest and dearest family and friends, and swears that they will remain joined together in marriage “until death do us part” yet on average in a mere handful of years separates, how tenuous is the relationship you have with your customers?

To your abundant success,

Leon Skaliotis – Founder, Retail Fundamentals.

leon 2Successfully helping retail owners in Melbourne Australia apply the most effective principles ever discovered, to create highly profitable businesses.

Take the next step… If you want to know how to attract more customers to buy from you, get on board my individually tailored retail programs. If you want to build a  retail business with more loyal customers, now is the time to build momentum and make this year your best ever. You will be ecstatic at how easy it can be to attract and keep more customers. The fast working principles from my exclusive programs, My Retail Success and The Outside In Method come with a 100%  SATISFACTION GUARANTEE! Discover quickly and easily how to :

  • Attract and Keep more Customers
  • Substantially increase your Profit
  • Increase the Value of your business
  • Free more of your Time

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

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

“IT’S THE LITTLE DETAILS THAT ARE VITAL. Little things make big things  happen.”  John Wooden

BEING CONSISTENTLY GOOD AT THE little things is crucial to your success. The key is to make sure that everyone in your business is trained correctly and regularly so that when each situation arises, they routinely and instinctively know the right thing to do and can execute it brilliantly.

It never ceases to surprise me how little training actually takes place throughout the retail industry. This is totally unforgivable!  How can a retail manager or a retail owner expect their staff to perform like superstars on a daily basis when training is only provided occasionally? How can consistency, perfect execution and instinct be developed when a specific training topic is covered only once? That would be like Michael Malthouse randomly picking a person out from an MCG crowd, who has never played football, giving them a single lesson in kicking the ball and at the end of that lesson expecting them to kick like Chris Judd!

You must always engage in two types of training. There are no shortcuts! The first is formal, for all staff, regularly and permanently scheduled, such as once a week.  If this isn’t already happening in your business, you owe it to yourself to make regularly scheduled training your number one item of your action plan.  The second type is on the job training. This is where your staff are observed putting their training into practice and where positive reinforcement as well as corrections are made. Even the most sophisticated marketing strategy will come to nothing as long as your people who have the responsibility of executing your strategy do not have all of the necessary skills. Training is not optional; it is vital.

To your abundant success,

Leon Skaliotis – Founder, Retail Fundamentals.

leon 2Successfully helping retail owners in Melbourne Australia apply the most effective principles ever discovered, to create highly profitable businesses.

Take the next step… If you want to know how to attract more customers to buy from you, get on board my individually tailored retail programs. If you want to build a  retail business with more loyal customers, now is the time to build momentum and make this year your best ever. You will be ecstatic at how easy it can be to attract and keep more customers.

The fast working principles from my exclusive programmes, My Retail Success and The Outside In Method come with a 100%  SATISFACTION GUARANTEE! Discover quickly and easily how to :

  • Attract and Keep more Customers
  • Substantially increase your Profit
  • Increase the Value of your business
  • Free more of your Time

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

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

“HUMAN BEINGS, WHO ARE ALMOST unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so.”
  — Douglas Noel Adams, author of The Hitchhiker’s Guide to the Galaxy

Yesterday, the owner of a local restaurant shared with me that his business was experiencing a lengthy quiet period.

“It’s very slow; people are not eating out anywhere near as much”, he lamented.

“How often do you go out to eat ?” I asked.

“I don’t have time to eat out, I’m a restaurant owner”, he said.

This restaurant owner’s response to my question is all too common. The sad truth is that many retailers never set foot into another retail business.  Even though it doesn’t cost a thing, they never give themselves the opportunity to:

  • Learn from what other retailers are doing.
  • Compare their business against others.
  • Adopt and improve better practices. 

Frequently, it is these same retailers who proclaim:

– “I make the best pizza” or,

– “I have the best service” or,

– “I provide great value for money”

Really? So why is your store empty?

To your abundant success,

Leon Skaliotis – Founder, Retail Fundamentals.

leon 2Successfully helping retail owners in Melbourne Australia apply the most effective principles ever discovered, to create highly profitable businesses.

Take the next step… If you want to know how to attract more customers to buy from you, get on board my individually tailored retail programs. If you want to build a  retail business with more loyal customers, now is the time to build momentum and make this year your best ever. You will be ecstatic at how easy it can be to attract and keep more customers.

The fast working principles from my exclusive programmes, My Retail Success and The Outside In Method come with a 100%  Satisfaction Guarantee. Discover quickly and easily how to :

  • Attract and Keep more Customers
  • Substantially increase your Profit
  • Increase the Value of your business
  • Free more of your Time

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

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

“YOU NEVER GET A SECOND chance to make a good first impression.” – Anonymous

It only takes a quick glance; some say as few as three seconds, for someone to form an opinion of you, when they meet you meet for the first time. In this brief moment, a shopper will decide whether or not they like you  and by extension your business, based on your greeting, your  appearance, your body language and your attitude.

Every time a customer meets you and your staff, they are judging you and your business and forming an impression. Reversing this first impression is nearly impossible.  This is why it is crucial that you use those first few seconds wisely. 

 John Gattorna, a visiting professor at Macquarie Graduate School of Management, conducted research (2008) into ‘Why businesses lose customers’.

  • 4% Natural attrition (moved away – passed on etc)
  • 5% Referred to a competitor by their friend
  • 9% Competitive reasons (price)
  • 14% Product/Service dissatisfaction
  • 68% Perceived Indifference

68% of business is lost due to ‘perceived’ indifference! In other words, the customer does not feel valued. It sends customers away nearly five times more often than dissatisfaction with a product or service and seven times more often than for competitive reasons. Making every customer feel important every time is a fundamental principle for retail success.

To your abundant success,

Leon Skaliotis – Founder, Retail Fundamentals.

leon 2Successfully helping retail owners in Melbourne Australia apply the most effective principles ever discovered, to create highly profitable businesses.

Take the next step… If you want to know how to attract more customers to buy from you, get on board my individually tailored retail programs. If you want to build a  retail business with more loyal customers, now is the time to build momentum and make this year your best ever. You will be ecstatic at how easy it can be to attract and keep more customers.

The fast working principles from my exclusive programmes, My Retail Success and The Outside In Method come with a 100%  Satisfaction Guarantee. Discover quickly and easily how to :

  • Attract and Keep more Customers
  • Substantially increase your Profit
  • Increase the Value of your business
  • Free more of your Time

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

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

mistakesMISTAKES ARE ALWAYS FORGIVABLE, IF one has the courage to admit them”  Bruce Lee

There are specific ways to minimize mistakes in your retail business. Nevertheless, it is still possible that someone will make a mistake and you will have to deal with an angry customer. Make certain that everyone in your business is trained in the correct way to deal with this situation. If you think “Let them go. Heck, it’s only one customer”, think again! You need to understand that one angry customer has the potential to be extremely damaging to your business. Many years ago I heard the saying “one upset customer will tell ten other people”. Today, with the rise of Facebook, Twitter, Instagram, etc., one angry customer has the potential to tell thousands of people about their bad experience with you. Treat this situation very seriously!

To your abundant success,

Leon Skaliotis – Founder, Retail Fundamentals.

leon 2Successfully helping retail owners in Melbourne Australia apply the most effective principles ever discovered, to create highly profitable businesses.

Take the next step… If you want to know how to attract more customers to buy from you, get on board my individually tailored retail programs. If you want to build a  retail business with more loyal customers, now is the time to build momentum and make this year your best ever. You will be ecstatic at how easy it can be to attract and keep more customers.

The fast working principles from my exclusive programmes, My Retail Success and The Outside In Method come with a 100%  Satisfaction Guarantee. Discover quickly and easily how to :

  • Attract and Keep more Customers
  • Substantially increase your Profit
  • Increase the Value of your business
  • Free more of your Time

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

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

SPREAD LOVE EVERYWHERE YOU GO: First of all in your own house… let no one ever come to you without leaving better and happier. …….” – Mother Teresa

To keep customers returning, we need to help them remain loyal to our stores. Little things, done well and consistently, by every member of your staff will make a big contribution to the success to your retail business. Below are just a few examples of what you can do. I am confident that together with your staff, you can come up with many more ideas.

  • Offer  free cold drinks on a hot day
  • Carry your customers’ parcels to their car
  • Walk your customer to the right department. Never point!
  • Offer a seat to an elderly or tired customer
  • Personally deliver a purchase
  • Free up parents to shop by entertaining their children
  • Play your customers’ favourite music
  • Have entertainment at busy times for waiting customers
  • Take time to ask about your customer’s day – really listen!
  • Offer free recipe and other ‘how to’  ideas
  • Sincerely thank every person for visiting and say you hope to see them soon.

To your abundant success,

Leon Skaliotis – Founder, Retail Fundamentals.

leon 2Successfully helping retail owners in Melbourne Australia apply the most effective principles ever discovered, to create highly profitable businesses.

Take the next step… If you want to know how to attract more customers to buy from you, get on board my individually tailored retail programs. If you want to build a  retail business with more loyal customers, now is the time to build momentum and make this year your best ever. You will be ecstatic at how easy it can be to attract and keep more customers.

The fast working principles from my exclusive programmes, My Retail Success and The Outside In Method come with a 100%  Satisfaction Guarantee. Discover quickly and easily how to :

  • Attract and Keep more Customers
  • Substantially increase your Profit
  • Increase the Value of your business
  • Free more of your Time

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

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