I hope everybody is still very focused on December sales, but as I am preparing a new retail masterclass I was looking at what the New Year would bring, and what really could matter to uplift some retail projects.
In Today’s engaging retail world there is so much happening, Both Off- and Online. I was just wondering if all these ‘Calendar’-messages reach the Customer’s mind. How does the Obesitas in Information touch the Customer’s decision buttons?
Do they even need more information and challenges???
Are they afraid of Missing Out? (FOMO)
Does the Customer have the Time and Skill to look at things in a different way?
Or from another perspective?
Is algorithmic retailing the answer?
So many great questions, but my clients come to me for answers, so what is right and what maybe not?
As retail is finding its place in the digital world (read: into the Mobile of the Customer) we really found out that
“too much is bad and doesn’t work well” but believe it or not “too little seems to be even worse”.
So I would like to add some simple ideas for you to think about. If possible add it to your ideas for next year and give me some feedback if you like.
I do not want to make it more difficult for you to choose, but if you are checking the internet and after 3 hours of downloading you have come to the conclusion that what you are doing might still be working, it’s best if you just pick “one great idea at the Time” and focus on that.
YES, forecasting and planning seem to be key in the new retail world, but please do not exaggerate and… never forget to stay focused on the customer FIRST!
I learned and found out myself that by sometimes NOT doing, you create time to look at new ideas and future trends that can affect your business even more!!!
It’s all up to you and your Customers…
WHAT DO THE EXPERTS SAY?
Why Use a Retail Calendar?
Depending on your sales channel, sales may not be even across every day of the week due to varying dates between different months and years. Historically, this has made it difficult to compare year over year sales until the 1940s, when the use of a retail calendar became common.
The retail calendar allows you to compare sales across different time periods to help predict sales. Retail calendars do this by creating four quarters with 91 days in each, in either a 4-5-4 or a 4-4-4 format (i.e. a month with 4 weeks followed by a month with 5 weeks and finally a month with 4 weeks). This ensures that every month has the same number of weekends as the same month in the prior year, so that sales for the same comparable time period have the same number of weekdays and weekends. Additionally, the National Retail Federation (NRF) uses a 4-5-4 calendar and adjusts the start of the calendar year to ensure that major holidays are reflected in the same time period for proper comparisons.
What is the purpose of a retail calendar?
By Kerry Nunamaker
There are a few advantages and disadvantages to using a retail calendar versus the 12-month calendar. A few advantages include the following: Retail calendars allow you to compare sales across quarters with the same number of days. Retail calendars allow you to compare weeks and months in different years with the same weekdays.
For example, when using the 12-month calendar, January 2016 has five full weekends whereas January 2017 has only 4 full weekends. By using the retail calendar, every month has the same number of weekends and weekdays, which allows you to more accurately compare months from different years. This is useful since typically sales increase during the weekends.
On the other hand, the retail calendar does have a few disadvantages:
Due to the structure of the retail calendars, each year consists of only 364 days. Thus, every 5 years or so an extra week must be added to the year. It’s difficult to compare month–over–month success.
For example, if you try to compare February to March using the 4-5-4 calendar, March would have an advantage since it has 5 weeks of sales compared to February’s 4 weeks of sales.
There are so many experts in the world of retail…
Some I like very much, others I do not understand as they are always trying to redefine retail too much and walk away from all its simplicity.
‘Helping Customers to buy’ and ‘ Doing business with friends’
Good Ideas, Great Thinking but HOW to do it!?
How to get on Today’s Disruptive Retail Wave?
How to stay there, to find Time and HOW to keep your head cool?
How to create Goosebumps for the Customer and feel ‘the Sound of Shopping’?
Do you recognize the Sound of Shopping??
Check out this footage I captured in the mall in Dubai