Do you have too much stock in your business right now?

If you feel like a lot of money is tied up in stock and there is not quite enough in your bank account right now, you are not alone.

So I thought with the Christmas season fast approaching I would give you some practical ideas about how you can change that fast. Particularly, I am going to focus on how you can leverage all the fuss around Black Friday to clear your slow-selling dead stock without damaging your brand.

[02:14] The Impact of Discounts on Brand Perception

[03:29] Effective Stock Management Strategies

[06:49] Identifying and Categorizing Stock

[13:39] Promotional Tactics for Slow Sellers

[17:57] Final Tips and Recommendations

Links:

Learn more about Stock Doctor - https://www.resilientretailclub.com/stockdoctor/

Learn more about the Resilient Retail Club: https://www.resilientretailclub.com/membership/

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/

It’s Halloween! And today’s episode is all about the horrors of customer service.

And I wanted to do it from both sides, not just from what you've experienced as business owners. And lots of you have shared your horror stories of what your customers have said and done, but also how it feels as a customer.

And just reflecting a little bit on what great customer service looks like and how to navigate some of these things because it can be really really difficult!

You'll discover how great customer service can significantly boost your business, alongside practical tips for handling more difficult situations so customer service doesn’t have to be the nightmare of your business!

[00:00] A Customer Service Nightmare: The Faulty Frame

[02:47] Reflective Listening: A Customer Service Technique

[04:26] Halloween Special: Horrors of Customer Service

[05:58] Tips for Handling Unhappy Customers

[07:20] Real-Life Customer Service Horror Stories

[08:43] Refund Policies and Customer Retention

[09:56] The Importance of Communication

[11:37] Handling Lost Parcels and Fraudulent Claims

[13:30] Dealing with Difficult Customers

[16:39] Setting Boundaries and Outsourcing Your Customer Service

Links:

Get all the resources in the show notes on our website

Get How to Talk so Kids Will Listen…and Listen so Kids Will Talk

Learn more about Stock Doctor

Learn more about the Resilient Retail Club

Learn more about my mastermind for product business owners

In this episode of the Resilient Retail Game Plan podcast, I tackle the challenges retailers face from September to November, focusing on cash flow management and strategic stock handling.

I delve into the reasons behind the cash flow pinch during this period, such as holiday season stocking and payment timing issues. I share practical advice on delaying expenses, collecting owed payments, and using detailed cash flow forecasts. I also introduce my 'Stock Doctor' service to help manage underperforming stock and emphasize the importance of balanced inventory year-round.

Tune in for actionable insights to navigate cash flow challenges and boost your retail success during the holiday season.

[00:00] The Seasonal Cash Flow Crunch

[00:33] Understanding the Retail Cash Flow Pinch

[02:15] The Impact of Holiday Preparations

[05:39] Strategies for Managing Payments

[09:20] Creating a Sales and Stock Plan

[10:46] Importance of Cashflow Forecasting

[12:09] Optimizing Stock for Better Cashflow

[13:03] Strategies for Managing Excess Stock

[13:41] Planning for Seasonal Inventory

[15:36] Final Tips for Cashflow Management

[17:03] Resources and Support

Links:

Get all of the details on our website.

Learn more about Stock Doctor

Learn more about the Resilient Retail Club

Learn more about my mastermind for product business owners

We often hear headlines that the UK High Street is in decline and all kinds of scare stories for brick-and-mortar stores. So in today's episode, I wanted to take the time to go through some recent numbers so we can see what's actually happening in the UK high street. As well as share my thoughts about what's ahead for bricks and mortar.

I don’t think it is all sunshine and roses for the high street.

There are lots of challenges from rising costs and consumers shift to purchasing online does have some impact. But I think we will see many more independent retailers. I'd love to see more retailers being able to experiment with having their customers come to them, and learn more about their brand.

I think people really crave that ability to touch, feel, and see things. And I also think that for a lot of people, the numbers are going to add up for them to have a physical retail space, especially if you're somebody who's established online. So I'm going to say I'm cautiously optimistic about the future.

This is purely my opinion based on what I've read and what I believe to be true. But I'd love to hear what you think, what your experiences are, what it's like in your local area. Do you have a really thriving independent retail scene? Or have you seen it decline? Do you shop at local retailers? What's your experience like? How do you feel that the retail industry is going to be shifting?

[01:42] Analyzing the Decline of UK High Street

[02:44] The Rise of Independent Retailers

[04:28] Impact of Online Shopping on Retail

[07:22] Chore Shopping vs. Cherish Shopping

[08:28] Challenges in E-commerce and Retail Trends

[09:41] The Rise of E-commerce

[10:18] Challenges of E-commerce Profitability

[15:02] The Future of the UK High Street

[16:10] The Need for Vision and Flexibility

[17:34] The Impact of Business Rates

Links:

Get all of the resources on our website

Learn more about the Resilient Retail Club

Learn more about my mastermind for product business owners

In this exciting episode, I introduce a brand-new format for the Resilient Retail Game Plan, featuring a live consulting call with Becky Barratt from Driftwood Designs.

Becky shares with me that at times they have found that they are surprised to discover that they are out-of-stock on their most popular products only to find that it might be up to eight weeks before they can get new inventory from the manufacturer. Becky is looking for guidance on how she can move from being reactive to limited stock to be proactive.

I offer a couple of solutions that Becky can try and we discuss the possibility of implementing each given her unique products and business growth.

This insightful conversation provides practical strategies you can apply to your own retail business.

[02:31] Meet Becky from Driftwood Designs

[04:37] Becky's Stock Question: How do I move from being reactive to being proactive about my stock?

[07:23] Option #1: Re-platform - this is the most complex but might offer the best long-term solution

[10:54] Option #2: Kanban Method - More practical and quicker to implement on the stock that matters most

[13:27] Which products should be included in a Kanban solution

[17:40] What to do if you are second-guessing your product choices

[19:42] What actions will Becky take based on the conversation?

Links:

Learn more about Stock Doctor - Take advantage of the early bird special! £200 off if you book your Stock Doctor call by October 21st. https://www.resilientretailclub.com/stockdoctor/

If you would like to have me answer a question you have about running your retail business on the podcast, then reach out to me at catherine@resilientretailclub.com.

Get all of the resources in our show notes on the website at https://www.resilientretailclub.com/podcast-episode/practical-solutions-to-avoid-stock-shortages/

In today's episode, I unveil a brand new service called Stock Doctor. This revolutionary done-for-you service is designed to help retail business owners understand their stock and cash flow management without the stress and guesswork. With expert analysis, customized plans, and direct support, Stock Doctor aims to improve profitability and eliminate financial uncertainties. Tune in to learn more about how this service can transform your business and take advantage of our special early bird offer.

[00:25] Introducing Stock Doctor

[01:56] The Inspiration Behind Stock Doctor

[05:42] How Stock Doctor Works

[07:54] The Benefits of Stock Doctor

[11:38] Who Should Use Stock Doctor?

[13:25] Special Offer to Join Stock Doctor

Links:

Learn more about Stock Doctor and take advantage of the early bird special! £200 off if you book your Stock Doctor call by October 21st. https://www.resilientretailclub.com/stockdoctor/

Today let’s delve into the anticipated trends and predictions for Christmas 2024. Drawing on research from PwC, Mintel, Retail Week, NatWest, and other sources, we explore the macroeconomic outlook, consumer spending behaviors, and sector-specific expectations. We discuss the importance of value, omnichannel strategies, brand loyalty, and sustainability for small business owners. Additionally, I provide insights into how to effectively plan for early Christmas shopping, online sales, and promotional periods. Tune in to understand the challenges and opportunities awaiting independent retailers and e-commerce businesses this festive season.

[02:15] Economic Outlook for Christmas 2024

[04:12] Christmas Spending Predictions

[07:16] Omnichannel Strategies for Small Businesses

[12:04] Consumer Spending Behavior and Value

[15:20] Sector-Specific Predictions

[17:10] What I Believe Christmas 2024 Will Hold

Links:

Get the show notes on our website at: https://www.resilientretailclub.com/podcast-episode/2024-christmas-unwrapped-insights-for-retailers/

Learn more about the Resilient Retail Club: https://www.resilientretailclub.com/membership/

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/

In this episode of the Resilient Retail Game Plan, I sit down with Daniella Raffa, founder of Mama Shack, to discuss her journey from product designer to successful entrepreneur in the baby essentials market.

Daniella shares her story of identifying a gap in the market for stylish and practical baby products, leveraging her background in product development and design to build her business. We delve into the growth and evolution of Mama Shack, the challenges of fulfillment, and the importance of knowing your strengths and when to outsource tasks.

With valuable insights into scaling a product business and maintaining a vision of success, this episode is a must-listen for any aspiring or current product business owner. Tune in to hear Daniella’s story and learn more about the tools and techniques that can help you build a resilient retail business.

[02:03] Meet Daniella Raffa of Mama Shack

[02:42] The Origin Story of Mama Shack

[04:54] Expanding the Product Line

[07:37] Challenges and Fulfillment Solutions

[12:11] Outsourcing and Delegation

[22:08]Advice for New Entrepreneurs

[25:16] Future Plans for Mama Shack

[26:10] Conclusion and Farewell

Links:

Gat all of the resources in our show notes at: https://www.resilientretailclub.com/podcast-episode/leaning-into-expertise-a-retailer-success-story-with-daniella-raffa-of-mamma-shack/

Learn more about the Resilient Retail Club: https://www.resilientretailclub.com/membership/

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/