The Wealthy Retailer

This week on the Wealthy Retailer® podcast Dan chat with Ilze Folkmane, Communications Director with Printful; an on-demand printing and fulfillment company that helps people turn their ideas into brands and products. Whether you wish to create your own online brand or gift someone a personalized t-shirt, they can help you get it done. Whenever someone—you or your customer—makes a purchase, they'll automatically receive the order, fulfill, and ship it.

To learn more about Printful visit: https://www.printful.com/

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more. Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. Sign up here: retailbycrs.com/newsletter

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out canadianretailsolutions.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!

Catch this week’s podcast and learn how Simon Trafford, owner at Social Lite Communications, has taken his craft to a level we all aspire to in ecommerce retail.

Simon and his team lead and teach Shopify store owners grow sustainably with Facebook, Instagram, Google and YouTube advertising, email marketing, and offer strategies at every stage of the customer journey – acquisition, ascension, and retention. To learn more about Social Lite visit: https://www.sociallite.ca

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more. Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. Sign up here: retailbycrs.com/newsletter

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out canadianretailsolutions.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!

Dan welcomes Juli Lassow, Founder at JHL Solutions to the podcast this week to talk about private label goods for the indie-retailer. Listen in as Juli shares how connecting the dots between retailers, suppliers, and the strategies they need to bring must-have private-label products to market can drive your retail business forward in 2022.

Juli has dedicated herself to supporting retailers and suppliers in finding, developing products, and better negotiating with each other. To truly thrive, product businesses must be powered by amazing supplier partnerships, which energize their business values. She is passionate about developing retail partnerships and am known for delivering sourcing and negotiation strategies that enhance sales, profit, and collaboration.

Contact her at [email protected]or learn more at www.jhl-solutions.com.

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more. Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. Sign up here: retailbycrs.com/newsletter

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out canadianretailsoltions.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!

Over the last few weeks, I’ve had many conversations with retailers about the need to elevate customer experience in their stores’ (both physical and digital). As I look at my own business and measure CX, I use this podcast guest as my benchmark. Step 5 in our 12 for 22 Whitepaper is Customer Experience is Everything and no one exemplifies that statement better than Lexus of Edmonton’s President, Bruce Kirkland. Listen to this rewind and ask yourself, is her experience in my stores’ everything I want it to be. Remember, her experience outweighs expense…

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more. Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. Sign up here: retailbycrs.com/newsletter

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out canadianretailsoltions.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!

This week we are sharing the latest Merchant Mastery Podcast with Kurian Tharakan, Managing Director and Dan Holman, The Wealthy Retailer.

Whether you're at a crawl, walk, or run with your online store, Merchant Mastery has courses to help you build and optimize your store, master email marketing and ads, understand offer strategy, and scale your revenue. To learn more about Merchant Mastery and how to move your shopify store to the next level, visit Merchant Mastery online.

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more. Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. Sign up here: retailbycrs.com/newsletter

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out canadianretailsoltions.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!

There is an old myth that says we only use 10% of our brain and while this myth has been debunked by many neurologists, there may still be some truth there… As a 30-year-old POS company we know that retailers do in fact fail when it comes to using the full power of their POS system, the brain behind their business.

In this week’s podcast Dan shares 3 strategies to better utilizing that brain to mine the diamonds buried in your point of sale system and turn them into cold hard CASH!

#1 – Markdown merchandise is purchased by only a select percentage of your audience; 30% of your customers ONLY buy merchandise that is on sale! Conversely, 30% of your client base never buys clearance merchandise. Here’s how to uncover your Sale Seagulls… Run a sales report by customer and gross margin. The clients that land below your median margin ARE your target markdown/clearance customers. Think about how important this segment of your audience truly is to your business – they buy your junk! More importantly they can help you maintain a clean inventory. A clean, fresh inventory is how we drive growth in your business.

#2 – Size-Drill-Down reporting can uncover HUGE opportunities. Too often your inventory and consequentially your open-to-buy get clogged up with shoulder sizes. Begin with running an on hand report by category and size; identify the excess and then run a report by customer and size and align your excess in sizing to the right customer.

#3 – Customer Win-Back Campaigns drive return purchases. Customers that haven’t purchased from you recently but have in the past represent 30% of your target traffic today!! Think about your in-store traffic (physical or digital) and break it down like this: 30-40% of your traffic comers from brand marketing (these are NEW customers to your business). 20-30% are referral customers (these are new customers that have been referred to your store from one of your existing customers (Ambassadors). 30-40% percent are RETURN customers (meaning, they have purchased from you in the past). The opportunity here is to identify those customers who have been absent from your store for a period of time and invite them back in. This can be done automatically with a simple “we miss you” email. If you are running a Shopify e-store, Privy is one of the best conversion platforms available including cross-selling, email captures, on-screen interactions and a customer win back module. Each of these components integrate directly with your customer base and your Shopify store.

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more.

Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. Sign up here: retailbycrs.com/newsletter

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out canadianretailsoltions.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!

Customer Loyalty should be earned not BOUGHT!!

When you 'google' the word loyal, the definition is 'giving or showing firm and constant support or allegiance to a person, institution or brand'. ... Loyalty is genuinely having their best interests at heart and ensuring that relationship is reciprocal. So, before we add expense to our business building or adding a loyalty program that will more than likely try to BUY loyalty rather than earn it. Let’s ask ourselves “how do we inspire a strong feeling of support or allegiance from both our external and internal customers” Buying customer loyalty is fine as long as you’re willing to lose them to a higher bidder… Hence why loyalty should not be bought but rather earned.

Let’s think about how we inspire loyalty with our team or employees. They become loyal through inclusion, recognition, respect, they make a difference and of course trust. Why do we treat or think about customers differently?

Dan shares some great points for two CRS partners; Shopify and Comarch. Download the white-papers here:

Shopify Loyalty Blog & Comarch - Customer Centric Loyalty

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more.

Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. Sign up here: retailbycrs.com/newsletter

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out canadianretailsolutions.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!

How do you make 2022 your most prosperous year yet?

The Wealthy Retailer®, Dan Holman shares his latest 12-steps presentation to obtaining Retail W.E.A.L.T.H. in 2022. Follow along with our downloadable white paper (12 for 2022) and let’s master these 12 Must Do’s together!

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more.

Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. Sign up here: retailbycrs.com/newsletter

All topics that will help make you, the Wealthy Retailer! To learn more about Dan and the Wealthy Retailer, please visit: thewealthyretailer.com 

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out canadianretailsolutions.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!

How do you make 2022 your most prosperous year yet?

The Wealthy Retailer®, Dan Holman shares his latest 12-steps presentation to obtaining Retail W.E.A.L.T.H. in 2022. 

Follow along with our downloadable white paper (12 for 2022) and let’s master these 12 Must Do’s together!

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more.

Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. https://retailbycrs.com/newsletter/

All topics that will help make you, the Wealthy Retailer! To learn more about Dan and the Wealthy Retailer, please visit:

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out www.retailbycrs.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!

Dan and Pete have a well rounded conversation about retail, entrepreneurship and more. Great takeaways for you and your retail business to start a successful 2022.

Pete helps entrepreneurs transform their frustrations into freedoms by using a variety of frameworks that help them cut through the chaos and overwhelm of running a business.

With over 25 years as a business owner and 11 of those as a retailer, he's refined many of his tips, tools, and techniques in the trenches within his own businesses.

You own your business; it shouldn't own you.

It's time to start using frameworks that allow you to have a turnkey business so that you can live the life you deserve!

Learn more about Pete Mohr: https://simplifyingentrepreneurship.com

The Wealthy Retailer is hosted by Dan Holman. Join him as they discuss all important topics in the retail industry. He chats with retail experts, retail owners and more.

Sign up for the weekly newsletter! Every week we curate the Independent Retail news of the day to keep you better informed. You’ll also be able to stay up to date on current retail trends, technology and more. https://retailbycrs.com/newsletter/

All topics that will help make you, the Wealthy Retailer! To learn more about Dan and the Wealthy Retailer, please visit:

WEB : https://thewealthyretailer.com

FACEBOOK : https://www.facebook.com/thewealthyretailer/

INSTAGRAM : https://www.instagram.com/the_wealthy_retailer/

This podcast is brought to you by Canadian Retail Solutions. Since 1991 they have provided comprehensive Point of Sale retail software support and training along with inventory management solutions to empower retailers in Canada and throughout North America. If you are looking for new solutions in your retail environment or are getting ready to launch your new operation, be sure to check out www.retailbycrs.com for more information.

Remember!!

Canadian Retail Solutions exist to make Retailers BETTER!