Running a retail operation is quite like navigating between Scylla and Charybdis, the very daunting tasked face by the Homeric hero, Ulysses. How so?
There are many tradeoffs involved in building a successful retail business -- and the rock and a hard place choices that the Scylla and Charybdis pose are faced by retailers every day. Get too close to Scylla and you will be devoured by competitors, too close to Charybdis and you'll drown in an eternal whirlpool of red ink.
Here are a few examples faced by special market retailers, such as hotels, campgrounds and RV parks, independent pharmacies and college bookstores. Being independently run, these stores don't have the corporate headquarters function that typically answers these questions for the large chains.
Pricing. Price too low and leave money on the table. Price too high and lose the customer.
Selection. Too wide a selection and customers get confused. Too narrow and the customer won't find what they want.
Inventory. Too much backstock and your cash isn't working for you. Too little and there will be stock outs.
Let Tradavo help you navigate the straits. Having provided thousands of special market retailers with best practices in selling front-end impulse items, wholesale snack products and general merchandise, we know what works.
We have deep data and analytics to help you set retails, our optimization services will create the right planograms to ensure you are carrying the right items for your customer base and trading area and we offer eaches (single item counts) on many items and inner packs on others to allow you to keep a high instock rate without tying up your cash in backstock inventory.
Our 'corporate headquarters' services are complimentary.
Bobby Martyna
President and CEO
Tradavo, Inc.
bmartyna@tradavo.com
twitter - @bmartyna