I recently read an ABC News vacation report. The idea was to prepare the J.C. Penney Store the day after Thanksgiving. The story then followed the store manager in his day-to-day business during the widely-sold Black Friday. This story has been working in the retail technology industry for more than 15 years and has generated a lot of thought.
Store managers and employees are the “real heroes” of retail and retail technology. That’s where rubber meets the road! They work as best as possible with the technological tools we provide them. If they don’t work, the whole team will lose. Forget it. Team failure is not an option! These retail leaders are ready to “think” and find solutions quickly and decisively, as a commander leading the battle! If the article is not available … and the screen appears empty … Fill it in with others. Ask employees to offer an e-commerce site or directory. They personally help the buyer to make a purchase through another channel, yes personally, on the busiest day of the year! The store manager makes sure that this happens throughout the store, and shows an example!
In this particular story, the manager talks about “outs on the articles,” the technology should be able to support stores and other channels, “specially” recording the number of missed sales of men’s long-sleeved and collar-facing XL size. . The industry needs “smart systems” that tell us what is really missing in lost sales, based on sales and similar SKU percentages in this style that were in stock, and % of the total. If SKU ends by 8:07 a.m., we need to know how much we could sell, not just on the day we ran out… but until the time when we sat with zero oh. We convert this number of “missed sales” not only for this SKU, but also for every SKU with missed sales in each store into a tool that we use for product and financial planning for the next year. This will increase the value of the store, the company, shareholders and, of course, regular customers. These are basic things, but are we really empowering our customers, store managers and customers? I would like to take this opportunity to introduce you to some of the “old days” managers at J.C. Thanks to Penny, for whom I have worked and worked for many years. These guys are the “lombardy” of retail. They have always played to win and develop the business, applying a “block-level approach” without much technical assistance. On this holiday I want to thank those who have taught me (for example) guys such as Ed Ulrich, Ken Heazel, Bob Gordon, Ivan Phyllis, Jack “the subject man” Stevensen, Dennis Osterholdt, John Gilman, Mark Whitworth, Kurt Wall, Lloyd Lubbert. and Maury Handler and many others. I’m sure some of them have been ‘moved’ to this ‘department store in the sky’ where there is still profit from sales, gross profit has improved with a minimum sales growth of 1.5 times, 100% available and never an empty shelf!