If you’ve been asking your self how to run a better retail business then you’ve come to the right place. We are Discovery-Based Retail and we help retail businesses make more money. But in order to make more money, you have to learn how to run a better retail business.
The partners in our organization have over 50 years experience in the retail and wholesale industries and one of them even has the gray hairs to prove it. (I won’t say which one.) We have developed a system that we call Discovery-Based Retail to help take some of the guesswork out of the buying and selling equation. The retail process is really quite simple: you buy stuff, you merchandise that stuff, and then you sell that stuff. Hopefully you sell that stuff at an adequate margin to make all of your dreams come true…simple enough right??? Well, if it really were that simple there would be a lot more profitable stores. The problem is that many people actually believe the process really is that simple!
They do not take the time to analyze whom they are trying to attract to their stores. Your store will not attract or appeal to everybody…no store does. So it is of paramount importance that you decide who is your target customer. Only then can you buy the right merchandise, only then can you adorn your store in the fashion that will appeal to the customer you have in mind and only then will you know what music to be playing to produce the proper ambience for that target group.
In order to run a better retail business you have to utilize the total area of your store’s sales space. We have designed a system that we call PDQ (Penetration and Dispersion Quotient) to help analyze how people are moving through your store. Many otherwise astute managers fail to assure that their sales space is producing at maximum efficiency. This system can help you overcome that deficiency.
Our company Discovery-Based Retail is a consulting company that can help you run a better retail business. A great way to get acquainted with our principles and methodologies is by reading our book, which is also titled Discovery-Based Retail. It is a great resource for learning to run a better retail business.
