Stop Marketing.

Start Engaging.

#051: Why Retail Stores Lose Money and How to Fix It

Subscribe on iTunes
RSS Feed

This episode of the UnPodcast, was all about retail. Among other things we discussed how one retail chain makes three times as much money as a result of paying higher wages, how stores can reduce shoplifting, and simple things employees can to do increase sales.

We also discussed the best way to deal with poorly performing employees, the things that matter most to customers, and the one phrase that should be removed from every retail employee’s vocabulary.

Other topics include:

  • [00:01:07.07] What our detractors say
  • [00:01:54.07] What might make me wear a suit
  • [00:03:10.17] How a Wal-Mart mistake that went from bad to worse
  • [00:07:06.25] Whether or not intentionality matters
  • [00:08:07.28] Leave it to a real estate company to do something like this!
  • [00:09:29.09] The secret to one company’s high wages
  • [00:11:43.15] How to retain good employees and why it matters
  • [00:12:34.05] The best way to deal with poorly performing employees
  • [00:13:03.12] Something that is severely underestimated
  • [00:14:01.09] What’s most important in retail
  • [00:14:52.20] The problem with surveys
  • [00:17:05.14] How business was lost as a result of inattentive employees
  • [00:20:02.13] What customers really care about
  • [00:22:34.28] What phrase should be removed from retail employee’s vocabulary
  • [00:24:16.10] How to deter shoplifting
  • [00:24:59.26] What showrooming is — and isn’t
  • And so much more. . .


Tweet This

Many things that aren’t offensive individually become offensive when grouped together. [Tweet This]

If you have better staff, you’re going to sell more products. [Tweet This]

People won’t care if you don’t have the answer; they just want to be acknowledged. [Tweet This]

The best way to get more people in your store is to pay attention to the ones already there. [Tweet This]

Items mentioned in this episode

Video provided by: AtomicSpark
Audio recorded by: Wayne Cochrane Sound