Retailer’s Roundtable – December 2024
Planning and Annual Goals: Make sure you go through the yearly planning/goal setting workshop! We will meet live on January 16 at 12pm.
Inventory Management (3:00–7:30)
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There needs to be an emphasis on moving inventory instead of stockpiling it.
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It’s better to sell inventory at cost rather than to store it.
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We talked about strategies to determine minimum viable inventory levels (it’s different for everyone!)
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Don’t forget about the Inventory Masterclass if you need a refresher!
Holiday Sales Strategies (00:09:00–00:13:00)
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It may make sense to mark down your holiday décor items before Christmas!
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We touched on pricing strategies, such as planning markdowns while maintaining margins
Customer Engagement (00:13:00–00:17:00)
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Live social selling on FB is a big thing right now! (We know this here – many of you have been doing it for a while!)
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Stay customer-focused and be sure you are HELPING customers find what they need especially during the holiday season.
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Promote gift certificates NOW!
Promotions and Email Marketing (00:17:00–00:22:00)
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Are you emailing your customers? It is so important to send frequent email communication to stay top-of-mind.
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Members shared stories of engaging customers with email-exclusive promotions and behind-the-scenes stories. (Email works!!)
Email Campaigns and Customer Insights (22:00–27:00)
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I encourage you to review email engagement metrics, such as clicks and opens, to identify active customers.
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Use email-exclusive offers to drive foot traffic and maintain top-of-mind presence.
Retailers Sharing Best Practices (27:00–32:00)
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Participants shared successful strategies, such as offering early access promotions (“first dibs”) via email and offering gift registries to their customers.
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It’s important to tailor communication channels for different customer groups (e.g., non-social media users).
Member Questions/Thoughts
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We discussed member experiences around the sales and how they compared to last year.
Closing Thoughts and 2025 Outlook (40:00–End)
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Make sure your holiday hours are updated and pinned to the top of your social media pages!
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I encourage you to use the slower post-holiday period for reflection and detailed planning for 2025. You have a smorgasbord of resources available, such as workshops and templates, to support yearly goal-setting in Headquarters.
