January 13, 2025 You may have heard of the Pareto Principle, usually known as the “80/20 rule.” According to this tenet, 80% of a company’s sales come from roughly 20% of its customer base. Assuming this is true, it’s essential that you keep the 20% of your customer base that is most loyal engaged by constantly refreshing your store. This can be a challenge, especially if you are short of cash, but here are some inexpensive ideas: Designate one or more areas in the store to always feature a different product line, season or category. Change these displays at least every four weeks. You may find it helpful to set up a calendar to plan the changes for the year. If you have a wall that can be repainted (or covered with temporary fabric panels), switch out the color theme from time to time. Paint is cheap! Display windows should highlight different products every month. Be sure to “proof read” your window regularly from the outside to make sure they remain fresh. Move merchandise around in the store. You don’t want to drive customers crazy by doing this randomly, since they like being able to find their favorite products. But often a line that isn’t selling well gets a boost from being moved to a new location. Change up your checkout counter offerings. This is a perfect spot for impulse items, however it’s also the place your regulars visit most often. Add something new from time to time to keep the end of their shopping trip interesting. Clearance old and tired merchandise. These goods are tying up shelf space and buying dollars that could be used more productively. A new coat of paint can give new life to older fixtures or shelves. You might consider adding an oversize prop to call attention to a display. Walk through the store looking on your lighting. Are there any fixtures that need to be replaced, or focused differently? Explore opportunities to provide additional product information and other signage to help sell your merchandise. Highlight all new arrivals. Use banners or signs to call attention to products that have just come in – and post these discoveries on social media. Ask your staff to give you ideas about any changes they think would spruce up the store. They will bring a different perspective, which is just what you need to continuously refresh your space. Happy Retailing, Carol “Orange” Schroeder There will not be a Specialty Shop Retailing blog next week