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Retailing

Isn’t It Obvious? By Eliyahu Goldratt

The full title of the book written by Eliyahu Goldratt and with Ilan Eshkoli and Joe Brownleer is

Isn’t It Obvious?: A Business Novel on Retailing Using the Theory of Constraints“.

In my review at Amazon.co.uk, I rated the book at the FOUR Stars level which means I think it is good to very good.

Here is what I wrote.

TOC in a retail setting with wider lessons

This is another business novel explaining the ideas behind the Theory Of Constraints. To make it a snappier read, Eli Goldratt worked with screenwriters who were well used to regularly revising their work.

It is based on a retail business in home textiles in the US. I can’t remember the exact numbers but there are about 100 stores organised into about 10 regions. [continue reading…]

in Best Business Books

Have you ever noticed that, almost always, if you want to buy some milk from a convenience store, medium sized supermarket or a huge superstore, the milk is usually stored against the back wall.

In my local Asda, Tesco and Morrison’s, the milk is right at the back. In the Sainbury’s, it’s in an aisle close to the back.

Milk is a popular item and it is something that many people buy. You’d have thought that, for convenience, a shopper friendly store would have a refrigerator quite close top the entrance so that people who only want milk can grab it quickly. [continue reading…]

in 8 – Your Systems

I Want A Shop – How Do I Start A Retail Business?

I received an email from someone who wanted to own a shop but she didn’t know how to start a retail business.

I thought this was a common enough problem to make it worth blogging about my advice.

The lady who asked the question already knew what type of shop she wanted. If you’re a budding retail entrepreneur but you’re not sure about what to sell, you need to decide the broad category first.

General Thoughts About Retail Businesses

Setting up a business can be a great idea but it can also be a way of losing a lot of money, especially in retail.

I feel that the first thing you both need to do is to read two or three books about retailing and what makes one shop successful whilst others struggle.

Here is a link to amazon.co.uk or amazon.com for retail books in the business section.

As well as learning more about how to start and manage a shop, I think several aspects are particularly important. [continue reading…]

in 3 – Your Strategic Positioning, Business Problems And Mistakes

Digging Wells and Building Fences by Scott McKain

The full title of this short book by Scott McKain is

Digging Wells and Building Fences: Discover the Steps to Combat Showrooming, Converge Physical & Digital Retailing, and Create Customers for Life“.

In my review at Amazon.co.uk, I gave the book a Four Stars rating. This means I consider the book to be in the range of good to very good.

Here is my book review.

A very useful book to help you to think about retail showrooming

Have you ever seen something you like in a retail store, taken out your phone and gone to Amazon? I have. I’d probably justify it, if challenged, by saying I wanted to read the reviews but I can’t help but notice the price too.

This is the problem of showrooming. It’s defined as using a physical retail store to find products you want but buying on the Internet. It’s a significant issue for the retail chains bearing the costs of the physical stores and service staff but not receiving any of the revenue to compensate. [continue reading…]

in Best Business Books

Retail Price Matching Guarantees

In the UK a department store called John Lewis has used a famous slogan “Never knowingly undersold” for 82 years to reassure customers that the best deals can be found at John Lewis.

If customers found the exact product cheaper elsewhere, then John Lewis would guarantee to match the retail price and refund the difference.

John Lewis did regular price checking and, where lower prices were discovered, they lowered their prices to match or beat the competition. [continue reading…]

in 5 – Lead Conversion