Main Menu
Home
In the News
Special Contributors
Special Report - Bedding
Sponsors
Events Calendar
Classifieds
Advertising
Contact HGO
Home
follow-on-twitter
Merchandiser Spring 2014
Merchandiser Winter 2013
2014 Product Guide
Research Store

Canada Counts
CanadaCounts-Badge-Sept2012.fw
A survey of Canadian buying intentions.
Purchase Report

 

Syndicate

Please Update Your HGO Profile

BRIGHTON, Ontario (30 June 2014) – Home Goods Online wants to improve our news delivery service for everyone in Canada’s furniture, mattress, major appliance and consumer electronics industries. So, we’re not only signing on with a new service provider but we’re asking each of our readers to give us a few moments of his or her time to update their individual profile.

Doing so will not only ensure that HGO is in compliance with current federal legislation, but will strengthen our connection with you, the reader.

Click here to update your profile.  It will only take a few moments of your time.

Here at Home Goods Online, our only mission is to keep every member of Canada’s furniture, mattress, major appliance and consumer electronics industries up-to-date on issues of vital importance as well as the news everyone needs to know, regardless of your role: retailer, manufacturer, distributor/importer, sales rep or other industry professional.

Thank you for your help.

Update Your Profile Now
Measuring for profit PDF Print E-mail
Written by Michael J. Knell   

FROM THE HGO MERCHANDISER

There's an old cliché which goes: Only that which can be measured can be improved. That's particularly true for the independent furniture, mattress and appliance retailer looking to improve the bottom line in a tough economy. Figuring out what to measure, how to measure it and then using the results to devise strategies for improvement is perhaps the most important service the Dufresne Retail Solutions Group, or dRSG, believes it offers to its members.

"Ours is a pretty simple business," dRSG director Steve Braniff says. "We need to create traffic, and once those people are in the store, we need to convert that traffic into sales."

Image
Steve Braniff
But the reality of succeeding with that simple idea is fairly complicated and often stressful for independent retailers.

"That's because they're juggling a number of different priorities every day, and everyone feels their concern is a high priority," Braniff says. "What we do is help them cut through the noise and stay focused on what's important - the make-or-break issues that happen in every business."

He says dRSG has developed what it believes to be the most effective metrics program being offered to independent retailers. It measures every key aspect of running an independent furniture store, and helps store owners understand the business and know what needs to be improved.

"This is an inexpensive program. The financial investment required is minimal relative to the potential, and once it's done the first time, the ongoing time investment is also minimal and can be handed off to a manager," Braniff says. "What it does is provide a structure or framework for the store owner to monitor."

The program focuses on four key elements: store traffic, the capture rate, the closing rate, and the average ticket (in dollars). "A 10% improvement in any one of these areas will result in a 10% increase in sales," Braniff says.

Read our complete report, Measuring for Profit, beginning on Page 34 of the Spring 2012 edition of the HGO Merchandiser. Click here to download your copy.

 

<Previous   Next>
Banner
Banner

 

 .

Picture of the Day
LazyBoy-Award-Bennetts (PD02Jul14)

Marlaine (far left) and Eric Bennett, owners of Bennett’s Home Furnishings are seen here accepting their award as the leading multi-store Comfort Studio dealer in North America in 2013 from Bob Ireland, vice present of La-Z-Boy Canada. Looking on (at right) are Jasmine Bennett and Tyler Steeves. Click here for our report.


 

 

Banner
 
Banner
Banner
Donald Cooper
My Turn!
HGO Merchandiser
Upcoming Events
August
Toronto Gift Show
August 10, 2014 - August 13, 2014

View Full Calendar