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Some Inventory Management is a Customer Service Issue, Too

My mom shops like a man. Get in, get what you need, and get out. Her lifetime of being raised in retail, her always efficient use of time, and her preference to spend her free time playing golf, playing bridge, reading books, or doing cross-stitch needlepoint all have led her to this shopping style. Oh, she’ll browse the dozens of catalogs she gets in the mail each week, but spending a day at the mall is not her idea of a great time.

Even in a book store, her favorite form of shopping, she’s a hunter more than a browser.

Last weekend, however, she took my boys on a shopping trip, hitting several stores in the Ann Arbor area. Of course, she hit those stores the way she always does, with purpose, focus, and an eye for efficiency. At one point in Macy’s, while my older son tried on some shorts, she asked my younger son to go find a cash register that was actually open. Her keen eye had not seen any employees at any registers yet, and she had to have her exit strategy mapped out.

She’s training my boys to shop like her, much in the way she trained me. When I’m in buying mode, I go in, get what I want, and get out. If I’m in a store to browse, I’m doing it to gather information for future blog posts, researching for my clients, or spending time with friends who love to shop (while I’m doing research.)

You might think from that description that my mom and I are mostly Transactional Shoppers who know what they want and are just on a hunt to get the best price. You would be wrong. Other than my bad habit of Diet Mountain Dew (I call it my “green tea”) that I’ll buy wherever it is on sale, I have my favorite stores where I’ll go first for all my needs. My mom is the same way.

If you consistently have the stuff we want, we’ll consistently shop at your store—even if someone else is selling it slightly cheaper.

The key phrase is “consistently.” If you are often out-of-stock of the items I regularly buy, I’ll stop shopping at your store, no matter how well you treat me.

Image result for empty shelvesIn a few days I’m going to give a new presentation at the American Specialty Toy Retailing Association (ASTRA) Marketplace & Academy. The title is “Profit Margin is Not Your Only Money Maker”. The premise is about how and when to sell lower-margin goods. One of those times is when you are the store people “expect” to sell that product. You don’t want to disappoint those customers and drive them away.

Not all hunters are Transactional. Some like to hunt at your store because they always know they’ll find their prey. Listening to my mom regale the tales from shopping with the boys reminded me of that important distinction.

Ask yourself …

  • What products do you sell on a regular, consistent basis, day-in-and-day-out?
  • What products do you sell at the highest turn ratio?
  • What products do people walk in asking for directly the most because they expect you’ll have it?
  • What products do you know your customers will buy online if they can’t get it at your store right now?

Those are your Must-Haves. Those are the products that keep your Relational Customers like my mom and me happy.

-Phil Wrzesinski
www.PhilsForum.com

PS Identifying the Must-Haves helps with your buying. If you need to add to the order to reach a better deal, add some Must-Haves. Identifying the Must-Haves helps with your marketing and advertising. Being out-of-stock often is one way to get bad Word-of-Mouth circulating. Identifying the Must-Haves helps with your overall customer service. The more your staff can say, “Yes we do!” the better they feel and the better the customer feels.

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