Are Your 2016 Retail Resolutions Still On Track?

Jan 29, 2016 — Brayden Gervan
https://www.linkedin.com/pulse/how-train-your-brain-keep-new-years-resolutions-graham-young

Well, January is over and I am sure you have made both personal and business resolutions. However, we know resolutions are hard to keep, in fact, Forbes Magazine reports that only 8% of people keep their resolutions.

But does this same statistic apply to business? Probably not… as a business has mechanisms in place to keeps itself accountable. However, that doesn’t mean all resolutions achieve the desired success rate set out at the beginning of the year. We all know in the dynamic retail market things change quickly, shifting corporate priorities and goals at the drop of a hat.

Retail resolutions can be anything from investing in staff to rolling out a new program, product or service, to marketing campaigns and customer retention initiatives or leveraging your data network. 

The most common retail resolutions we have seen include:

  • Optimizing for mobile
  • Connecting retail channels through technology
  • Improving loyalty programs and increasing sales staff support
  • Reacting quicker than the competitors
  • Leveraging the vast amounts of data retailers collect to make the best decisions

Now these may not be your retail resolutions, but it’s possible that your organization's retail resolutions fall somewhere in the same vein. And if this isn’t the case, that’s fine too. The important thing is you keep your resolutions alive and continue your efforts toward achieving them, and not let them fall by the wayside like you may have already done with your personal resolutions.

Be sure your resolutions stay top of mind at all levels of the organization to give yourself the best chance of success.

And although every one of these has hundreds of tasks associated with them, be sure your resolutions stay top of mind at all levels of the organization to give yourself the best chance of success.  

Let us know what some of your business 2016 Retail Resolutions are and if they’re still on track. If they have fallen off the radar, what steps will you take to get them back on track by the end of the quarter?

And make sure you check out the solutions that iQmetrix offers to help achieve some of the most popular retail resolutions made by you and you peers in 2016.

 

Topics: Retail Operations

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