What and Where Profit Makers | Front-End Overhaul | June 1, 2024

What's your sign?

Is your store's curbside appearance keeping secrets? Is it not letting customers know you have a drive-thru, offer compounding, home health mobility, & safety options, vaccines, greeting cards, and is a wellness center? If so, then it is time to step up your exterior signage.

Where's your money?

Realizing the amount of dollars invested in a category can sometimes warrant enhanced marketing. Greeting Cards for instance. The average number of greeting cards in a 4ft section is around 288 (using 4 per pocket average). A one-column spinner holds around the same. Using $4.50 average per card = $1,296 in retail for every 4ft section (more if the cards are on a wall unit.) Add a conservative 10% for any cards in storage. Take a look at that number. Is it time to enhance marketing or make other changes?

What are you carrying?

You should feel comfortable in placing a "Wellness Center" sign for all to see. If you answer yes to most of the items listed here, then you have a Wellness Center within a pharmacy. Do you offer a line of pharmaceutical supplements, Coq10, L-Theanine, Melatonin, Ashwagandha, Magnesium, immune boosters, herbs, CBD, Nootropics, nutrition, skin care, compression hosiery, compression socks, sugar-free OTC, Minerals, amino acids, probiotics and offer help in choosing an OTC item and encourage healthy aging? Go get your sign.

Where's your clearance?

If you find yourself using highly visible aisle space or endcaps or heaven forbid a checkout counter to feature discounted closeout items, then you need to create an "Extreme Savings Center". Place this exciting discount area in the least shopped area in your store. Use in-store signage throughout the store with the message "Have you shopped at our Extreme Savings Center yet?" Remember, prime retail space is to be used for full-margin products, not for items with hopes of breaking even.

What's a lot?

The phrase "a lot" means many things to many people. A well-meaning vendor may say, "We sell lots of these." The person may mean one or two things. A. The vendor sells a lot. B. Their idea of A Lot is one a week. This is good if the vendor sells lift chairs. The buyer in charge of gifts idea of "A Lot" may differ from the POS report. Making your inventory investments work for positive cash flow starts with the true definition of what is A Lot.

Monthly Retailer Category Tips—Oral Care

Promote the array of items you carry to address customers' oral care needs, from items that support oral health to those that are designed for aesthetic enhancements. Read more...