In the retail business? Waiting for the world to change back to the way it was?

Can you answer yes to any of these questions?:

  1. Are you in the retail business?
  2. Are you waiting for the good-old-days to come back in terms of the economy and retail sales?
  3. Do you want the world to change back to the way it was before the recession?

If so, I have good news.

The good news is: You can stop waiting!

Those days are never coming back.


So you have no choice but to do the following:

  1. Double the amount of value you deliver through your service
  2. Halve the number of products (and services) you offer so it’s obvious you are a specialist in your chosen area
  3. Choose a single target market and declare that you are actively excluding everyone else
  4. Double your prices to signal to your customers (and competitors) that the improvements you just made with #1, #2, #3 position you as the best in your category

For each of the retail business on the following list, think about how you’d apply these actions to each one:

  • A music store
  • A sports foot wear store
  • A jeweller
  • A cafe
  • A restaurant

2 things for you to do in the comments below:

  1. Either add your retail business below and we’ll analyse it for you
  2. Or analyse a business on the list add your notes below

2 Replies to “In the retail business? Waiting for the world to change back to the way it was?”

    1. Excellent Campbell. A few ideas:

      Golf Retailer:

      *Double the service value:
      Invite customers you meet during the week to join you for a round on Saturday (limit it to 6 people). Ask them why golf appeals to them and find a way to double their enjoyment

      *Halve the number of products you offer:
      People probably expect clubs, bags, balls, shoes and clothing, right? So either get rid of the lower half of each range (eg cut balls that cost less than $10 each). Or, get rid of balls entirely. Or get rid of clubs! Either way you’re saying “we are the best for what we stock”

      *Choose a single target market:
      Only left handers. Only right handers. Only people 6 foot or taller. Only people 5.6′ or shorter. Just choose and people will beg to be included if they’re not in that target

      *Double your prices
      Just do it, and pile on more and more service and value to justify it.

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