The whole category in one page.
FOUR LEVERS DRIVE RETAIL REVENUE: TRAFFIC, CONVERSION, TRANSACTION VALUE AND REPEAT CUSTOM
Count people entering and compare against transactions. Most retailers know their sales and nothing about their traffic, which means they cannot tell which lever is weak.
STOCK IS THE LARGEST ASSET AND THE LARGEST SOURCE OF LOSS
Check every delivery against the invoice, count regularly, and measure shrinkage as a proportion of sales. Unmeasured loss is absorbed invisibly.
OUT-OF-STOCK ON YOUR BEST SELLERS IS THE MOST EXPENSIVE FAILURE IN RETAIL
Set reorder points for key items from sales rate and delivery time, and never let those items run out.
SLOW STOCK IS CASH SITTING STILL — CLEAR IT, EVEN AT A LOSS
The cash is worth more than the stock, and holding it hoping for full price almost never works.
INDIVIDUAL LOGINS AND CONTROLS ON VOIDS, DISCOUNTS AND REFUNDS ARE WHERE LOSS PREVENTION BEGINS
Shared logins make attribution impossible and remove every other control you have.
ACKNOWLEDGING EVERYONE WHO ENTERS IMPROVES SERVICE AND DETERS THEFT AT THE SAME TIME
Being ignored on entry is the most common complaint about shops, and being noticed is the strongest deterrent available.
VERIFY EVERY TRANSFER PAYMENT IN YOUR OWN ACCOUNT BEFORE GOODS LEAVE, BECAUSE FALSE CONFIRMATION SCREENSHOTS ARE COMMON
IN A ROBBERY, STAFF GIVE UP THE MONEY WITHOUT RESISTANCE, BECAUSE NOTHING IN THE SHOP IS WORTH AN INJURY
AND REVIEW SALES AND MARGIN WEEKLY, BECAUSE MONTHLY REVIEW FINDS PROBLEMS TOO LATE TO ACT ON
