Most retailers are facing difficult choices in 2009: where and how to cut back. Many have no choice but to cut expenses, cut inventory, go out of categories, or even close stores.
We believe these tough owner choices can be guided by knowing just who is your best - that is, your most profitable - customer. This economic climate offers a great opportunity for you to do to your customers what they have done to you for years...shop around for them! Be very selective. You must lose the ones that are not good for you.
Remember, the retailers who will continue to survive in 2009 and beyond are those not with the most profitable locations or merchandise, but the most profitable customers.
You may be surprised at how quickly you can get the facts for yourself. And it may cost you nothing extra! Indeed, with today's POS systems, you may already have the data available to you. What better time to turn that data into strategic management information you actually can use to help your business survive?!
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