Hey, everybody. It’s Bob.
And Susan.
And in this episode of Real Retail TV, we’re going to share takeaways from today’s Summer Summit Kickoff. We had five five, count them, of our summit speakers on sharing what they’re gonna talk about, sort of giving you some advice. So we’re gonna share those takeaways with you in this episode of Real Retail TV. But before we get to that, I just wanna really, share with you the importance of registering for the Retail Success Summit right now. Yep. Until June twenty eighth, Friday, June twenty eighth, you can save five hundred dollars on your registration.
Normally, the Retail Success Summit is an investment of nine hundred and ninety seven dollars plus two ninety seven each additional person from now until June twenty eighth, it’s only four ninety seven Yep.
Plus two ninety seven each additional person. But another little fun fact to share with you is you take absolutely no risk when you sign up, when you register for the retail success success summit. If you come to the summit and you aren’t thrilled with what you’re learning, if you’re not excited when you leave, it if it does not meet your expectations, let us know. We’ll give you your registration plus one thousand dollars.
We are that confident that you are gonna have an absolutely fantastic experience at the retail success summit. So register now. Now let’s get on to this episode of Real Retail TV.
And we’ll see you at the summit.
We’ll see you. Yes. And we’ll see you at the summit.
Okay. So there were five of our speakers. Five of our summit speakers came on live. Here are the takeaways.
Susan, would you like to start we’ll start with Josh?
Sure. I’m gonna start with Josh Orr from Capital Commerce. He is gonna be one of the speakers. And the truth bomb that he laid on us at the at the summer summit kickoff, blew my mind. And what he said was they’ve, been doing research through their through their business, and what they’re finding is that customers store and they’re buying on your ecommerce site, or maybe they’re buying in your store and they’re buying on your social channels, or they’re buying on your socials and they’re buying on ecommerce two channels, they have a thirty percent higher lifetime value than a customer that only buys in one place from your company. So that’s just it’s mind blowing, and it’s game changing.
So, think about that. Think about how can you get more of your customers buying from two channels in your business?
Well, I can tell you how. Come to the retail success summit and, go to Josh’s session, and that’s what he’s gonna share with you.
Absolutely.
And then Nick McHenry from OneShop Retail shared another super interesting, statistic. And, you know, he’s got access to several billion dollars worth of transactional information from different point of sale systems And seventy percent now this is this is really frightening. Seventy percent of customers. And, you know, we know some of his customers who are really really good merchants. And even with these really good merchants, seventy percent of new customers only shop once.
And what Nick One time.
One time. And isn’t that it’s just unbelievable.
The potential that is, you know, is illustrated there. And Nick’s gonna be speaking at the summit, of course. But he’s gonna really sort of share some strategies for how do you get that seventy percent who is only shopping one time? How do you get thirty five or half of those people to shop once or or just two or three times.
So, I thought that that statistic was also really, really interesting.
And the thing that, the thing that’s cool about both of those guys when they talked is that’s just actual data. That’s not, like, made up ideas. It’s it’s statistical facts that they’ve been able to pull.
And you know you know, you don’t have to be a victim of these kinds of I don’t know if you can become a victim of statistics, but you know what I mean.
How do you combat that? How do you get that second transaction from that, from that second channel? How do you get that one time customer in your store more often? These guys are pros, they’re experts, and, of course, they’re gonna be at the summit.
Yeah. That was great. We also had Melody from Max Retail.
She’s a brand new speaker for us at the summit this year. We have a lot of new speakers. She was one. She joined us on the, summer summit kickoff today, and she was talking about, the liquidation of of, like, old aging bad inventory.
And I know that so many of us, just they’re you’re struggling with a clearance center or your sidewalk sales, and you’re try you have to do all these go to these extraordinary measures to clear out your old inventory or even, gosh, heaven forbid.
Some people are boxing their inventory up Let’s not talk about that.
And putting it in their basement.
Please, if that’s you, you need to come to the summit and talk to Melody because what she’s gonna be talking about and the what she talked about today that I thought was so interesting is that the same kinds of economies of scale and technologies around clearing out old inventory, liquidating bad inventory that have, in the past, only been available to really big, big retailers, Target, Walmart, those guys, is now available to To you.
To you, to independent retailers.
And so the same of money out of your old inventory. There are these new technologies that are available and, you know, really increasing your of course, she’s gonna to hear that these new technologies are in place.
Yes. And, of course, she’s gonna be at the retail success summit. You can talk to her. So if you’re carrying too much inventory, it makes it worthwhile to come to the summit. I loved Dane Cohen from management one told a story, and he he said, I gotta tell you an anecdote.
And he said, he met a woman who said, do you remember me? And Dane said, no. They’d met him at market. And this woman said, I’m the person you yelled at at the retail success seller.
He didn’t really yell at it.
He didn’t really yell at it. But, of course, you know, Dane being the kind guy is is like, what? What? What? And this woman, this merchant, was turning one time a year, meaning, she had as much inventory as her annual sales. And Dane yelled at her, that she needed to clear out some merchandise.
She should have been talking to Melody at Max Retail.
What the case and and point taken. But what she shared was that, you know, Dane says, hey, I we can’t even work with you until you get this all down, until you get your inventory under control. And so the tip here is your store is not a museum. So she indeed took Dane’s, advice to heart, cleared out a lot of stuff. She is now a management one client.
And, in the chat, she, said, hey, that was me. So she raised her hand and said, I was the person.
So do you see all of these Well, what she said was that it had changed her business.
It had changed her business. Changed completely changed her business.
Yes.
So and so many people when they come to the summit, you know, you may have heard about Management One, but when you get there and you listen to Dane speak and you talk to Dane, you know, at his booth, all of a sudden, Dane and Celeste, you know, all of a sudden you go, oh, I see how this works.
I see. In fact, Melody was saying that when she was a real retailer, Melody from Max Retail that, you know, she said, I was a, a retailer for seven years before I became a real retailer, before she hired management one. Before she hired management one, she was somebody who was selling stuff rather than a pro.
A shopkeeper.
A shopkeeper.
Yeah. We call it a shopkeeper.
Anyway. And then finally.
Yeah. The last, speaker that we had come on the, the live was Dan from Canadian Retail Solutions. They do work with people all over North America, not just Canadians.
But his the his little takeaway, his little tip that was really great, is he said your point of sale system, and he’s a point of sale expert, that’s what he does, is it has two and only two functions, to manage your inventory and manage your customers, and the biggest power that most retailers don’t take advantage of, but the biggest power of your point sale system is to connect your merchandise with your customers. Like, what merchandise goes with what customers at a very granular one on one level and even even at some, bigger demographic and and segment levels. So this idea of how are you managing your inventory based on the actual customers that you have in your store.
That your point of sale system has the power and ability to give you that information.
That’s what he’s gonna be talking about at the Retail Success Summit. Mind blowing.
Yeah. So it was a lot of fun. And, you know, it is available as a replay. But just to reiterate, if you haven’t registered for the Retail Success Summit, do it now because from now until June twenty eighth, Friday, June twenty eighth, you can save fifty percent or not exactly fifty percent. But normally, it’s nine hundred and ninety seven dollars.
More than fifty percent.
There you go. Normally, it’s nine hundred ninety seven dollars plus two ninety seven for each additional person.
Until, that Friday. It’s only four hundred and ninety seven dollars plus each additional person.
And I do Save five hundred bucks.
Save five hundred bucks. And I do want to reiterate, there is a better than money back guarantee. If you come to the summit and you aren’t thrilled with what you’re learning, if you’re not excited when you leave, talk to us and request it, and we will will give you all your money back plus one thousand dollars. So there’s a lot of reasons to come. There’s not very many reasons not to come. The retail success summit won’t break you, but it might make you. So register today.