“Do you know what your missing?” by Dan Pankratz of Exchange Collective

“Do you know what your missing?” by Dan Pankratz of Exchange Collective

When only 23% of US retailers use people counting devices to measure traffic, how do you know what you are missing?  Reports from Footfall and ShopVisible state that only an average of 20% of your stores traffic will make a purchase, meaning 80% of your traffic is walking out the front door. Yet about 55% of the people walking out of your store were there to make a purchase. So for every 10 people that come in to your store, you are only making 2 sales, and 4 potential sales are walking out the door.   What are you doing to find out what the 4 people wanted? Are you letting customers leave to buy somewhere else? Will those 4 potential customers ever come back? Empowering your sales staff in this day and age is more important than ever. The consumer now has more information about the products they want to buy than any other time in retail history. This drives the need for your sales staff to be equipped with the right set of skills and tools to be able to give customers the best service possible. If a customer walks into your store you have a chance to make them a customer for life or let them fall in to the abyss of online shopping. It may seem simple to say good customer service is what your sales staff needs, but what does that really mean. Originally this would be a good greeting of each customer, an open ended question to break the ice, and then finding out why they came into the store and help them...
“You Might Not Need to Worry About Breaking a Brand New Surfboard Ever Again” via The Inertia

“You Might Not Need to Worry About Breaking a Brand New Surfboard Ever Again” via The Inertia

Editor’s Note: Just bought a new surfboard? Check out Surfcare, a new option for peace of mind. You just dropped an unforgiving grand(ish) on a creamy white hunk of fiberglass – straight off the rack from your local surf shop. It’s silky to the touch. Your eye skims its clean eyes with adoration. You’re beaming with pride. You’re also a little sheepish about the purchase. The expense to fragility ratio is merciless. The reef doesn’t care about your investment. Nor does the minefield of surfboards at crowded spots like Malibu. Nope. They’ll happily break your board for you and kill that joy at no cost. The fragility of expensive surfboards has long defied logic for addicted, cash-constrained surfers. But a sensible solution may have just hit the market. Enter Surfcare: insurance for your brand new surfboard. “I was on a six-month trip to Indonesia when I had my ‘aha’ moment,” says Surfcare Founder Nick Stolz. “I showed up to the tiny Island of Sipura in the Mentawais with a brand new quiver of boards. Within a couple weeks, however, I broke every single one of them surfing HT’s and waves on neighboring islands. That’s when I decided to make Surfcare a reality.” Surfcare cofounder Nick Stolz charging Nias prior to breaking all of his surfboards and deciding to do something capitalist about it. Photo: Courtesy Stolz According to Stolz, the brand launched last month after three years of development and hoop-jumping to abide by regulations in the understandably no-nonsense insurance industry. Insurance is not a bro-bro industry.  Warranties must be vetted and maintained. “To get a little into the weeds, I didn’t know what I was...
“MY DOORS ARE OPEN and I survived the summer…NOW WHAT??” by Dave Seehafer of Global Wave Ventures

“MY DOORS ARE OPEN and I survived the summer…NOW WHAT??” by Dave Seehafer of Global Wave Ventures

Now that summer is over, I’ve been chatting with specialty retailers across the nation on ways to boost profits, manage inventory & orders, keep customers coming through the doors and much more, as we head into 4th quarter. With uncertain consumer spending, retail closures, bankruptcies & job losses, and a consumer who wants an engaging retail experience along with quality, value and competitive pricing, the savvy specialty retailer will be looking ahead to see where all of these factors will lead 1, 3, or even 5 years from now.  Consider the following questions as you strategize and plan–“how have my customers changed over the past six months, and what can I learn from it?”, “what products might my customers be interested in that I am not currently stocking”, and “how can I improve their customer experience when they walk into my store”. Here are some areas that, I believe, require focus and commitment in the months ahead: 1)  Manage  orders & inventory levels to maximize sales of high margin items &  private label/shop-logo goods             Many shops this summer were selling record numbers of surfboards, skateboards, accessories and more, often causing shortages and lost sales.  Meanwhile, sales of high margin soft goods overall were down, compared to prior summers.    While such hard good sales boost monthly numbers quickly, their low margins are usually below the cost of doing business, thus jeopardizing true profitability.              NOW is the time to focus and prioritize on high profit, high margin items such as t-shirts, sweatshirts, hats, some accessories and certainly your shop-logo/private label items. Display and merchandise high margin items in the...
“Democratizing retail is all about broad participation” by Mike Massey Founder / CEO of Locally

“Democratizing retail is all about broad participation” by Mike Massey Founder / CEO of Locally

My partners and I started Locally 5 years ago with a vision of helping online shoppers find and complete their purchases with their favorite nearby stores. We saw that consumer behavior was shifting to online product research and feared that local stores would increasingly be cut off from shoppers’ decision-making process. The initial effort was relatively small. We had 13 retailers participating after the first year, and all we could do for them is try to help them win natural search results in their town. At the time, the idea of local stores winning the SEO battles was seen as landing somewhere between futile and irrelevant. Adoption was slow. But things change. Over the next couple of years, we built more point-of-sale (POS) connections for retailers to use when joining, and we started building tools for brands to use in their own marketing and on their sites. As we drove more consumer engagements, more businesses joined the platform. More retailers started sharing inventory, more brands started displaying local ways to buy things. And, we kept iterating. First, we added Reserve-Online-Pay-In-Store (ROPIS). A year later we built Buy-Online-Pickup-In-Store (BOPIS or Click-and-Collect). Last year, we added support for Same-Day Delivery via third party couriers like Postmates. Today, we’re working on Ship-to-Store (which lets brands and stores work together on full-service local pickups). Soon, we will offer local returns for online purchases, even further closing the loop between stores, brands, and shoppers. 1.9 Billion Shopper Engagements in December Over the 5 year arc of adoption, we’ve gone from 13 participating stores to almost 10,000 in over 3,500 cities. We’ve gone from 25 founding brand partners...
“Why A Protection Plan for Surfboards Might Be The Next Big Thing” by Vipe Desai via PropagandaHQ.net

“Why A Protection Plan for Surfboards Might Be The Next Big Thing” by Vipe Desai via PropagandaHQ.net

Challenging times are prime for innovation and during the pandemic and it’s great to see new ideas find their way into the industry. One new innovation that caught my attention was Surfcare, the world’s first surfboard protection plan. Where if your board gets dinged, they’ll fix it for free. And if they can’t fix it, they’ll replace it. Now before you roll your eyes and dismiss this idea, take a moment to think about the things you might insure already – like your cell phone, home, car, etc. We already look to protect our purchase of expensive items so it makes a lot of sense that a service like Surfcare would be valued when purchasing a new surfboard – especially as costs of surfboards have risen over the years. I not only had a chance to catch up with the two founders, Nick Stolz and Rhett McNulty, to get more details of their new service but got some feedback from one of their retailers and a customer. Here’s what they all shared with me. Now that Surfcare has been available in the market for a period of time, what have you learned about the service based on retailer and consumer feedback? From the consumer standpoint, all of the protection plans whether monthly, annual, or 2-year, have been getting purchased evenly. It’s difficult to say which one will become the favorite this early on. We do expect that we will need time to change buying behavior even if people think Surfcare is great. Surfers aren’t used to adding that extra cost to their boards so the increased visibility and education on the...
“Office Depot Preferential Member Pricing Program now available for all BRA Regular (no cost) and Distinguished Retail Members”

“Office Depot Preferential Member Pricing Program now available for all BRA Regular (no cost) and Distinguished Retail Members”

The Mission of Board Retailers Association is to consolidate the voices, the experiences and the visions of Board Specialty Retailers into a cohesive organization. We do this by identifying ways to lower day to day expenses, to increase profit margins and to create more remarkable customer experiences for our Retail Members. As a BRA Retail Member, you will have a voice, you will benefit from BRA relationships and you will have access to a number of BRA programs and resources including the new Office Depot Exclusive Preferential BRA Member Pricing Program. The image below elaborates on this outstanding Member Benefit, which is available to both Regular (no cost) and Distinguished Retail Members. If you are interested in improving your business, click on the following link to learn about both BRA Retail Membership options: https://www.boardretailers.org/retail-membership/ Soon after you complete the following super simple join form, we will email you the link to gain access to this rad program and begin saving on over 20,000 Office Depot Products and Services: https://www.boardretailers.org/join-bra/ #boardretailersassociation...