Caryn Friedman’s Post

What does it take to propel Best Buy sales in the final months of the year? 🎄While the holiday season is fast approaching, there’s still a window to fine-tune your strategies. Gain practical insights from Rob Bader, who taps into his strong CPG, entertainment, and toys experience and long relationship with Best Buy to ensure value-add solutions that resonate with retailers and consumers alike. Don’t leave money on the table this season. Check out Rob’s blog for valuable tips and connect with him at [email protected] on optimizing your strategies to drive profitable growth. 🌟 https://lnkd.in/eMSptD8j #HolidayRetailStrategy #BestBuy #omnicommerce #CPGbyMPG #MarketPerformanceGroup #MPG

Fall's here, and with it comes a crucial sales and promotional periods. NMG took a look at the numbers and found that Independent Retailers proved their strength particularly in their ability to upsell customers. By leveraging "Buy More, Save More" messaging, retailers outperformed the industry average in package sales. Read the article for a deeper dive into the Fall Savings Retail Report #NationwideMarketingGroup #Retail #FallSavings #IndependentRetail #CustomerService #CommunityEngagement #SuccessTips

Retail promotions play an outsized role in sales, competitive position and customer acquisition. Retailers can't afford to run promos that are suboptimal. On the Revionics blog, we share five ways retailers can increase their promo effectiveness. ➡️ https://bit.ly/3wImoar

🎙️ I had an amazing time catching up with Krystina Rubino on Right Side Up's podcast, Growth Talks.🎙️ We had a lively conversation filled with insights and a lot of laughter (don't worry, we kept it professional!) covering my two favorite topics: 💡The importance of building a strong marketing foundation to scale more efficiently 💡How eCommerce and Brick & Mortar can work together to grow both channels 🔗Check out the snippet below and listen to the full episode here: https://lnkd.in/gi4YYHix.

Today marks a key moment on the retail calendar, with Australian Shopify merchants recording $9.3B in BFCM sales last year, up 25% on the previous. A recent report even found that BFCM has overtaken Christmas as the biggest sales event, with half of Australians planning to shopping this weekend. For brands with a strong, long-term approach to loyalty and customer success, BFCM is just one piece of the puzzle. It’s not about short-term wins but leveraging the momentum to enhance your overall strategy. In a recent article I wrote for Dynamic Business I cover some key areas for brands on how to approach BFCM with a long-term mindset: ✅ Profit-first strategies ✅ Creative, thoughtful discounting ✅ Memorable customer experiences ✅ Retention-driven tactics If you want to learn more check out my article and feel free to DM me with any questions: https://lnkd.in/gkzXsbUT #BFCM #retailstrategy #customerloyalty #ecommerce

🎉 Another Milestone Achieved 🎯 Recently, I had the opportunity to work with Headie Zero, the CEO of Headies Stores, who approached me to uncover key insights into his business. He provided datasets from both the sales and logistics departments that required significant cleaning and analysis. I had an in-depth conversation with him to fully understand his objectives, then dove into the data to identify actionable insights. After hours of intensive data cleaning and ensuring a fixed schema, I delivered a two-page, insightful Power BI dashboard for Headies Stores. The dashboards provided actionable insights for the CEO, Mr. Zero: 1. Sales Dashboard – A high-level summary of key sales metrics, including total quantity ordered, total revenue, profit generated, and customer count, all of which showed upward trends from 2019 to 2022. This interactive dashboard also highlighted the top-performing States/Provinces by revenue, regions generating the most profit, and sub-categories with the highest sales, such as products under the Chairs Category, and the Copier product leading in profit. The dashboard provided monthly breakdowns for deeper analysis. 2. Orders Dashboard – Offering a detailed look into logistics performance, this dashboard provided insights into total orders received, shipments sent, shipment modes, and cities served. It also highlighted the most preferred shipment modes, States/Provinces with the most orders, and the top product categories and sub-categories by order volume. Additionally, the dashboard displayed the top 10 customers with the highest orders, in line with Mr. Zero's goal to celebrate these loyal customers. 💡Key Findings: November: A Record Month for Sales November stood out as the highest sales month for Headie’s Stores, with a remarkable $352,666 in revenue. The line chart revealed November as a peak period, likely influenced by successful marketing initiatives, seasonal demand, or increased customer engagement during the festive season. Regional Profit Insights The West Region, including states like California and Washington, was the top profit generator for Headie’s Stores, bringing in $111K. A significant boost in profit occurred between 2021 and 2022, with profits rising from $24K to $45K. This growth was fueled by the addition of over 150 new products, with the Copiers sub-category leading in profit with a value of $19k, followed by Accessories and Binders, each contributing $16K. Central Region, including states like Texas and Illinois, generated the least profit at $40K and had the highest discount amount among all regions, totaling $563. It was also the only region to record losses in two sub-categories: Furniture and Appliances, with losses of $4K and $3K, respectively. After presenting these insights to Mr. Zero, his satisfied smile said it all. We then discussed strategies to boost revenue and cut costs. PS: This is not a guided project, this shows my ability to work under little or no supervision.

When to Have Sales and Special Offers? Timing your sales and special offers strategically is crucial for maximizing their impact. Holiday seasons, such as Christmas and Thanksgiving, are prime opportunities as customers are already in a buying mood. End-of-season sales help clear out old inventory, making room for new stock. Aligning offers with special events like Black Friday or company anniversaries can drive significant traffic. Additionally, offering promotions during traditionally slower months can help maintain steady revenue. Proper planning ensures these sales boost customer engagement and overall sales. #sales #offers #discounts #ecommerce #marketing #brand

Does running a sale re-engage existing customers? Or your discount is used by new customers only. For summer products, do customers acquired in December buy again in the summer months? To get out of constant acquisition mode, your LTV should kick in at important events/seasons. Otherwise, it becomes a fight to fill a leaky bucket. The benefit of LTV comes once you can build a core group of customers. Eventually, you want 2 revenue buckets -  - From new customers - From old customers Even if you keep new customer acquisition at the same level, you need revenue from existing customers to compound to fuel growth. That's what we call growth via retention. Cohort analysis is an excellent way to understand the seasonality of your audience. Seasonality helps you prepare better for - inventory, promotions, and budget allocation. Seasonality analysis also allows you to: - Identify peak purchasing times and adjust marketing strategies accordingly. - Optimize stock levels to prevent overstocking or stockouts during high and low seasons. - Tailor your promotional efforts to match consumer behavior patterns, increasing the effectiveness of your campaigns. - Allocate your budget more efficiently, ensuring that you invest in the right areas at the right times. Don't miss it. Watch the complete video on the link in the comments. #dtc #ecommerce

Here's a great article for Retail D2C brands written by a colleague of mine. While Q1 has historically meant less shopping activity and fewer planned marketing campaigns, there are compelling opportunities to prioritize retention now and build off of a successful holiday season (or right the ship). Read on for ways to reconnect with your best customers, newly subscribed contacts, and recent purchasers this new year. https://lnkd.in/e4iSAeCf

Struggling to stand out when your retail competitors are selling the same products? Start with closely monitoring your competitors and price your products slightly higher or lower depending on your goals and customer base. Setting a smart competitive pricing strategy can lead customers to choose your brand above the rest! Here’s how you can get started with smart competitive pricing when competing stores are selling the same products. Read the full blog here: https://hubs.ly/Q02zP1JD0 #competitorpricing #sameproductcompetition