Make More Margin’s Ken Simpson
In the first entry of his exclusive column for the Weston and North Somerset Echo, retail expert Ken Simpson of Make More Margin highlights how retailers can capitalise on major upcoming events, such as the Queen’s Jubilee, to boost business.
A diamond jubilee for retailers?
June will host some important events that look set to capture the mood of the nation, and will provide retailers with an opportunity to boost sales.
First up we have the extended bank holiday weekend for the Queen’s Diamond Jubilee. The majority of the nation will be celebrating this landmark anniversary in some way and your retail business can capitalise on the general public’s willingness to splash out on this landmark celebration.
There is likely to be street parties across North Somerset to mark the event, providing a profitable opportunity to supply a wide-range of food and drink. It’s important then, that you are well-stocked for the event and can meet the likely demand. Do not underestimate how much you can sell either, especially the longer life products and frozen foods, which if not consumed on the day will still have a shelf-life.
Football’s not coming home….
Football may not be coming home this year but Euro 2012 does follow hot on the heels of the Diamond Jubilee. Whilst not everyone is a football fan, an event like the European football championship never fails to capture the nation’s imagination, giving your retail business another huge opportunity to cash in.
The tournament kicks off on June 8 with hosts Poland (big opportunity here with Polish food and beer) playing Greece. The Republic of Ireland take on Croatia in their opener on June 10, which is a great opportunity to sell some Guinness and other Irish products, possibly leading with an offer.
The tournament is also a great opportunity for convenience stores, off licenses and sports shops to promote themed products and make up their own Euro special multi-buys. For example, this could include eight-cans of beer with a Pizza and Crisps offer. Make sure you’re able to cater for barbecues as well, by stocking charcoal, disposable BBQs and ice bread rolls.
As well as playing host to these significant retail opportunities, May and June is also the time of year when temperatures start to climb. Retailers with refrigerated units should take this opportunity to ensure that their air intake grills are cleaned.
This is vital in order to allow the unit to work at its optimum level, which will reduce energy consumption and heat output, ensuring that any profit made of the back of these events is not swallowed up by fuel bills.
It is a simple task that can be executed with a soft brush attachment on your vacuum cleaner. Also, check that your air conditioning units are working well in advance of the summer sun, so it doesn’t become a last-minute issue.
It’s shaping up to be another tough year for the high-street. But high-profile events such as the Diamond Jubilee, Euro 2012 and The Olympics provide huge opportunities, which if planned and accommodated for can help your business boost sales and make more margin.
Make More Margin – about the author
Make More Margin is a local retail consultancy/mentoring business set up by life-long retailer Ken Simpson. Ken has worked for many of the big names in retail covering a wide variety of disciplines. In recognition of his experience Ken has once again been appointed to the judging panel for the prestigious Retail Industry Awards 2012.
Ken has enjoyed significant success with Make More Margin, working to turn around a number of underperforming businesses. One retailer has seen sales grow from £500 per week to over £7,000 per week.
Make More Margin is also able to offer all businesses large or small a fantastic web based H&S tool that gives you piece of mind on the Health & Safety front for less than £1.00 per day.
To find out more visit: www.makemoremargin.com, contact Ken on firstname.lastname@example.org or for a free initial consultation is available by calling 07831 668647