That's what the CEO asked me. "Why is my business struggling?"
The CEO could tell you about the following.
- Traffic
- Conversion Rates
- AOV
- Gross Margin %
- Marketing Expenditure
The CEO didn't know much about the interaction of merchandise and customers. How could she? Very few companies are smart enough to create their own reporting to measure the interaction between merchandise and customers. The relationship changes between "brands" ... it's not cost effective for vendors to create reporting to measure the dynamic.
Let's spend some time talking about ways that merchandise and customers interact. It turns out the relationship between what you offer and what customers purchase has a lot more to do with why your business succeeds/struggles than anybody gives credit for. Maybe your business is struggling because you did something from a merchandising standpoint that impacted how customers respond.
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