nickshanagher

Tony Wheeler and his wife created a £90 million business, Lonely Planet, by simply doing what they loved - travelling. They recently provided the FT with a list of 10 success tips, three of which make interesting reading for local shopkeepers. One. Keep appealing to young customers. The 18-year-olds could be with you in 50 years' time, the 68-year-olds won't. Good advice but probably advice that you want to flex. Your young customers are probably people in their 40s and 50s and your aim is to have them shop with you from 60 to 85, when they won't need to make a weekly trip to the supermarket. Two. Make work as much fun as possible. I've always been proud that people say we're a company that knows how to party. It pays off, even when the party's over. For local retailers, what opportunities do you have to apply this advice? How do you make more of them? Three. Engage your customers. They come up with great ideas and there's absolutely no better prom...

A US study into why some people get into trouble with their mortgages suggests that a lack of numeracy may be the reason. In the latest issue of the Economist under the witty headline of 'The fear of all sums', Stephan Meier says that the innumerate may be worse at managing their daily finances, leaving them with little room for manouevre when things get difficult. The study shows that the behaviour of the numerate and innumerate mortgage holders were similar. They bought similar financial instruments. They borrowed similar amounts relative to their income. The value of loan to the value of property was similar. Which means that suppliers would find the two groups hard to tell apart. What might this mean for the independent retailer sector? Most suppliers assume that shopkeepers are good at working out the margins on what they sell. However, start talking margins with retailers and you find that most are reluctant to say much. Part of this is a fear that they are not doin...

News this week that the average price of a CD has fallen below £8 for the first time, compared to more than £11 in 2000, tell all retailers that prices do not have to just go up. While the recording industry may blame the internet and supermarkets, which are accused of below cost selling, the business of music may not be suffering in proportion. Radiohead guitarist Ed O'Brien told Time magazine that "the music industry isn't in crisis, the recording industry is; it is an unbelievably good time to be a fan of music and new bands." Whatever, most corner shops are not big into music. However, the implications for book, magazine and newspaper sales is more sobering. The Boston Consulting Group has just studied the attitude of shoppers towards buying digital content in the US, China and Germany. They will pay $100-$150; $70-$120; and $130-$160 respectively for an e-reader. For a book the price ranges are $5-$10; $1-$2; and $7-$12 respectively. For a magazine $2-$4; $1-$2; ...

Clearly the answer is Tesco and Sainsbury, who are leading a big increase in investment in new stores and extensions to existing stores, according to building industry analyst Glenigan. It has tracked £350 million of investment in 60 projects by major supermarket groups in the first quarter, more than double the £150m of contracts awarded in the same quarter in 2009. Almost all of these projects will come into the market over the next 18 months - suggesting the supermarkets are banking on a recovery in shopper sentiment in 2011, suggests Allan Wilen, economic director of Glenigan. What is clear is that they are backing themselves to be successful. The really interesting question is whether they are going to be slugging for share against each other as Nielsen data for 2009 and the first quarter of 2010 shows that convenience stores are out-growing the supermarkets. A good time for optimists armed with a good business strategy.

The owner of this store was surprised when I discussed this sign with him that I would take issue with it...and he may be right. It may be that retailers have to be heavy handed with the public when it comes to people parking all day in spaces that you maintain for shoppers. However, I was suggesting that the type of person who daily abuses your business is unlikely to notice this notice anyway. Instead you should try and send a positive message to your shoppers. How about: Free parking for our customers. You are welcome to park in the slip road outside these shops, which is a private road for the use of shoppers using our precinct. Please do not park here otherwise. Thank you. What is the difference? I think the current sign tells people off. The new wording tells people about the benefit that you provide them with. And it still gives you something to point to if you confront someone who is taking advantage of your parking bays.

The sign says welcome but the door says stay out. In part, this arrangement is forced on the shopkeeper by the architecture of his shop. However, this door is still wrong. I know this because I walk past this shop weekly with my son after he plays football. He is on the lookout for asking his father to buy a salty snack, a soft drink or some football cards but he never suggests we go in here. In contrast, this window, less than a quarter of a mile away does plenty to draw attention to itself. It looks fantastic and simple words tell you exactly what to expect inside. I have bought family gifts here and while I will not go in every time I pass, I know where to go for beautiful gifts and homeware. Having taken the photograph I also know there is a web site. In customer service terms, I know that the people in the convenience store are more welcoming and friendlier. However, the way that they present their shop creates a barrier to shopper visits and what they sell is available everywhere...

Last week, I wrote about the views of one supplier that few newsagents or convenience store retailers were prepared to put the effort into sourcing new products and promoting them to their shoppers. Today, I had the good fortune to walk past Manoj Harji's Hatton News shop in central London, spotting the sign and poster promoting Nando's crisps. I blogged about Mr Harji's shop once before (30 March;'A good proposition') explaining how well merchandised the shop was and friendly. Seeing the Nando's poster I took a quick photo and then caught Manoj's eye in the shop. He was laughing so I went over and introduced myself. He said people often took photos of his shop but rarely introduced themselves. Everything inside was as well presented as the last time I visited. Manoj explained that he had seen the Nando's crisps and thought that the flavours would appeal to his shoppers. So far his hunch has proved correct. Also in his window are a set of posters promoti...