Are you curious, observantand persistent in your shopping habits? If you are, chances are you are adding to your Retail IQ on every shopping trip.
Do you like to explore new stores or wander down different aisles in stores you know well? These are signs of a healthy Retail IQ. Do you pick a checkout lane at a grocery store based on the length of the line, the skill of the bagger or the number of items in the carts of those ahead of you? Do you even think of ANY of those factors? People with higher Retail IQs observe the subtle differences. And great retailers manage those factors.
What type of stores do you frequent? Barbershops or beauty salons? Hardware stores or Hallmark shops? Claire’s or Costco? Quick-service restaurants or self-service gas stations? Wherever you go, be aware of the messages and methods employed to influence your decisions. What happens in those stores doesn’t stay in those stores – some of it goes home in your trunk!
There’s no magic formula to calculating a Retail IQ and it varies from store to store, format to format and shopper to shopper. It also varies widely between producers of point-of-purchase equipment. If you buy or sell displays or fixtures, consider the Retail IQ of those with whom you work, too. They can make the difference between a smart investment and one that pays poor dividends.
Posted on 10/31/2012 at 8:00:00 PM