Throughout the pandemic, millions of shoppers – including the older Baby Boomers – discovered the benefits of online shopping. Then, as brick-n-mortar retailers scrambled to survive, the increased availability of delivery, curbside pickup, BOPIS (Buy Online, Pickup In Store) and BORIS (Buy Online, Return In Store) was well received by a broad swath of consumers. 

We see that this has brought heightened awareness of two different retail strategies: Convenience Retailing versus Destination Retailing. 
  
And here's the deal: retailers now must choose either one or the other of those two strategies. You cannot have one foot on the dock and one foot in the boat. You DO have to decide! 

• That uncertain/undecided middle ground is not a viable choice. 
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• Those who end up there by default – by choosing to not choose  are on their first step to being former retailers!

We're sure you'll agree. Misinformation can be very harmful. Retailers surely don't need more harmful anythings!

Just last week, we came across the proverbial straw that broke the camel's back. It was a post on the Intuit Quickbooks site*, titled "Inventory Turnover Ratio." And the explanatory article was accompanied by an "Inventory Turnover Calculator."

What do we take exception to? The misleading and/or incorrect information it provides. 

For example, their "Inventory turnover calculator" requires two entries. 

• First, "enter the total costs involved in selling your products."

We must take exception. "Total costs involved in selling your products" is NOT the same as Cost of Goods Sold. Nor do they specify that it should be for a 12-month period of time. 

• The second entry they request: "Average inventory cost."

We must take exception. What they surely meant to say is inventory @cost. 

• Plus, they simply refer to "12 months of ending inventory balances," without specifying that it should be for the same 12 months for the previous entry.

Just One Week Until Valentine's Day!

What better time to send a love note to ... your customers?! 

Yes! That's right. A Valentine. Just a Valentine. No strings attached! Show your love!

• No special discount coupon.
  
  
• No "bounce back" offers ("come back by such-and-such-a-date to save $$$.")
  
  
• No "sign up for our Insider's Club."
  
  
• No "We want to know what you think about your most recent visit."
  
  
• No expectation of them doing anything more for you!
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• No obligation.

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Just an out-and-out thank you note. A love note for being your customer! 

We recently learned of a restaurant with a kids menu which is quite unusual.

Of course, having a kids menu is not unique. But here's what IS unusual about this one.

• When kids are asked "What would you like to eat?", often their answers can range from "I don't know" to "I don't care." 

But at this restaurant, here is what each all-too-familiar answer brings to the table: