Responding to Boris Johnson's Sunday Speech
English golf is to reopen this week, with the rest of the UK to follow. These are unchartered waters for all of us and, thankfully, the PGA has is issued guidelines to help retailers tick every box in terms of precautions and safety before the course reopens. Details are still emerging about how this will affect retail businesses but whether your shop can open in 2 days, or 2 weeks, IT WILL PAY TO PLAN!
Early in lock down, we published the first article in our Homework for Retailers series: CASHFLOW, (also, one of our most popular blogs ever!); and last week, we published some great tips about making a BUDGET for the rest of the year.
Having read the first two articles, you will:
- Be on top of your cash flow and have completed our cashflow template
- Downloaded the Monthly Sales Analysis Report to compare 2020 sales to 2019
- Made a budget for the rest of this year
Now let’s look at the final stage of PLANNING to reopen the shop, get back on track and smash the rest of 2020!
Look at your key brands
What will you be able to sell the most? It’s time to be brutal and focus on what you think you can sell. Don’t assume clearance sales will be your only option to shift your Spring/Summer stock. Remember, people won’t have been spending money for 2-3 months so there could be a boom when the pro shop reopens. You could be dealing with customers with more money in their pockets than usual. Stay optimistic and assume people are going to come out and spend some dusty money.
It’s time to be brutal and focus on what you think you can sell. Look to the positives: your customer base will be keen to get out and play again!
Let customers know what you are doing
Hopefully you’ve been busy on social media over the past few months, but if not, make sure you use the platforms frequented by your customers to tell them how you’re preparing, and what’s in store. Stay front of mind so your shop is the first one they think of when restrictions are lifted.
What can you display online?
eCommerce has always been a difficult choice for many and can be harder with Brand interventions. But there are options out there and online retail is no longer just the domain of the big behemoths. Using XPOS to help speed up the process and link stock to your new eCommerce site will make life much easier. Set up a Shopify site to make your customers aware of your stock and even pricing.
Dig out that crystal ball
We don’t know when businesses will fully resume, but having a timeline in mind will keep you motivated. There will be fresh challenges to look forward to and this stage is about preparing you to restart the business with gusto!
Don’t assume clearance sales will be your only option to shift your Spring/Summer stock. Remember, people won’t have been spending money for 2-3 months so there could be a boom when the pro shop reopens.
Use the budget calculator to assess the impact of the virus outbreak on your business, and work out where you need to go from here. When the pro shop doors reopen, keep a close eye on the numbers and keep the budget up to date.
Your shop looks amazing… Let’s pretend it’s the first day of Spring. The sun is shining … and the Masters is just starting…
For more information about Shopify costs and set up, go to our website. It takes minutes to set up a new Shopify account and it’s a fantastic way to show customers the products available in your shop. Get in touch via the SUPPORT button on our website.