Do not underestimate the psychology of being in buying mode. In our shop during Black Friday or any of the sales we do, we literally have staff dedicated to taking stacks of games out of people hands and putting post it notes with their names on them behind the counter so they can continue to shop. Like Travis said, we sell tons more than just the items that are on sale. As a sometimes consumer myself, I know I usually make a budget for the Holidays for gifts and usually exceed that and in addition find stuff for myself to purchase. Be the place they want to spend the money.
I completely agree with what you said and as a shop that does run Black Friday sales I'm always surprised to hear others don't. I do think I can shed some light on why others don't as it's something I thought about a bit and I think the main reason is that you and I operate a diverse business that sells a variety of products so there are places to offer discounts and sales like a traditional retailer. Many game stores on the other hand are actually Magic stores that happen to carry a few other things and their main inventory and sales are singles which don't really get discounted in most sales as it's a pain, and the conventional wisdom of Magic product for small businesses without volume was that if you hold onto it long enough eventually it will go from a terrible margin to a good margin as it appreciates, which I don't think is happening as much anymore. It's much harder to sell a product at a loss or deep discount when you have to sell a case of booster boxes to cover the cost of an unsold box, than when you can sell half the inventory to break even and the rest is pure profit regardless of what you sell it for so hanging onto it in hopes that it goes up like a box of cards once did isn't as interesting.
these are great Travis!! Really enjoy watching and learning. Seems like you might be open to feedback? one minor thing is my ADHD brain has a hard time conentrating on you speaking because the background music is just a tiny bit loud. I like the background music! Just competes with your voice and I want to hear YOU. thanks for considering!! great work. love that you share what you know.
Thank you, Travis for discussing "Sense of Urgency"! This should be something that hobby retailers need pursue on Black Friday and ALL YEAR ROUND!
Do not underestimate the psychology of being in buying mode. In our shop during Black Friday or any of the sales we do, we literally have staff dedicated to taking stacks of games out of people hands and putting post it notes with their names on them behind the counter so they can continue to shop. Like Travis said, we sell tons more than just the items that are on sale. As a sometimes consumer myself, I know I usually make a budget for the Holidays for gifts and usually exceed that and in addition find stuff for myself to purchase. Be the place they want to spend the money.
I completely agree with what you said and as a shop that does run Black Friday sales I'm always surprised to hear others don't. I do think I can shed some light on why others don't as it's something I thought about a bit and I think the main reason is that you and I operate a diverse business that sells a variety of products so there are places to offer discounts and sales like a traditional retailer. Many game stores on the other hand are actually Magic stores that happen to carry a few other things and their main inventory and sales are singles which don't really get discounted in most sales as it's a pain, and the conventional wisdom of Magic product for small businesses without volume was that if you hold onto it long enough eventually it will go from a terrible margin to a good margin as it appreciates, which I don't think is happening as much anymore.
It's much harder to sell a product at a loss or deep discount when you have to sell a case of booster boxes to cover the cost of an unsold box, than when you can sell half the inventory to break even and the rest is pure profit regardless of what you sell it for so hanging onto it in hopes that it goes up like a box of cards once did isn't as interesting.
these are great Travis!! Really enjoy watching and learning. Seems like you might be open to feedback? one minor thing is my ADHD brain has a hard time conentrating on you speaking because the background music is just a tiny bit loud. I like the background music! Just competes with your voice and I want to hear YOU. thanks for considering!! great work. love that you share what you know.
Thanks for the feedback.
Travis, keep up the great work. I know the team and I really enjoying hearing what you have to say.
I'll probably be in on Friday with the family and Saturday by myself for the 40k stuff.
What Retail discussion groups are you in? Any one's you'd recommend? Thanks!
There's a handful of retailer groups if you search Facebook. None are specifically better than any other.