
Who said "You can't teach an old dog new tricks?"
Well in my case, they"re wrong.
Maybe some of this I've heard before & in some cases maybe I've heard more than once, but for whatever reason, maybe this time I heard it louder & clearer than before & it stuck...
1) Pricing -- I know that Paul has been preaching 9's for a hundred years but I was one of those from the old school & used convenience pricing.
A lot of our prices came out to the even dollar, or at least in 25 cent increments. That way we didn't have to monkey with those pennies, nickels & dimes.. We were known as the store where prices most always came out even monies.
But you know what??? More & more & more people are now using plastic, & pennies, nickels & dimes are no longer a nuisance (AND) with some higher pricing comes higher profits.
It may not seem like much but pennies, nickels & dimes all add up & every little bit helps, especially these days.
2) Old Product(s) -- Beer & liquor I don't have much trouble with beer and liquor but not wines.
I have now taken a number of wines (some old & some new) & priced them all at $7.99. But if they buy 3, they get a 4th bottle "FREE".
Why is it that the word "FREE" really works wonders?
Customers who came in for 1 or 2 bottles of wine are now walking out with 4 & some are leaving with as many as 8, all because of that magic word "FREE".
I use the $7.99 price because the program I use with the Total Register system allows me to discount $2.00 in increments of 4 which amounts to 4 x $2.00 or $8.00 which amounts to 1 free.
By the way, we had a record day of wine sales the day before Thanksgiving.
3) Beer of the month -- I have always tried to price my case beers at 25% GP "BUT" now I have taken the Miller Lite & priced it at $17.99 (about 18% GP).
I now have a beer that is comparably priced with most of the other stores in the area (even the Fargo-Moorhead stores).. Those of you who have seen the beer prices in the Fargo-Moorhead area, you know what I am talking about.
Why did I chose Miller Lite? Because they were the distributor in this area who did not raise their pricing to us & I wanted to show my appreciation.
4) Bullet Reports -- I made a written report to the City Council informing them of the activities at the store for the past month. That way they are aware of what I am doing & what is going on at the store.
These are just a few of the things discussed at the Regional Meetings but this is what I have been working on since the Meetings & believe me, they are working.
Which goes to prove -- "You can teach an old dog new tricks."
My next project -- To start using inventory cycle counts.
I hope everybody has a very happy & successful Holiday Season
Bob Leslie
Pelican Rapids Liquor Manager
MMBA Director