Page 0055

Page 54 FEBRUARY 2018 | RETAILERS FORUM MAGAZINE

forumworkshop

FORUM WORKSHOP

continued...

Let's look at some offensive tactics

and strategies to take customers

from your competitors.

WORKING HARDER

When is your product or service available? Is it

more accessible than your competition? Is it accessible when

the market wants it? One way to

increase revenue

and take

market share is

to extend your

hours. Most

people would

enjoy access to

their bank on weekends other than through an

automatic teller. Yet most banks are closed.

Some have a few hours on Saturday morning in which they are open. When do you really

need a bank? Usually on Sunday! Later on we'll

look at one bank which works harder by staying

open late evenings and open Sunday. It is

the market share leader, with 17% of its volume

occurring when its competitors are closed!

Look at every aspect of your operations to see

if you are missing the opportunity to take market share.

Being an early

morning person, I

am always amazed

by one department

store chain that

opens for business

an hour after its

competitors in the

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