Sports Retailing for Winners
Just like in sports, in retailing, winners are performers. Those who are hungriest and willing to fight the hardest will gain the most market share, earn the most revenue, and enjoy the best relationships with their customers. That’s why ChainDrive invests so much time and energy into developing high quality retail operations management solutions for world-class sports retailers.
So what does such a solution entail? To be a winner in sports retail, you must be able to do at least four things well.
- Build relationships – Whether you deal with individual players, entire teams, or sports leagues, you’ve got to get good at building solid relationships. That means understanding what your customers want and knowing how to deliver it. A good solution will help you manage your customer and vendor relationships.
- Manage your inventory – If you don’t manage your inventory well, you could take huge losses. You need to know where every product is at all times and be able to move product from one store to another or between your warehouses and your stores easily. If you need more product, you should be able to replenish your inventory automatically and allocate product by size, color, and other parameters easily.
- Make repairs – Sports equipment breaks. You will inevitably be called upon to repair equipment for players, sports teams, schools, leagues, and more as you sell more merchandise and develop your customer relationships. You need to be able to track those repairs seamlessly.
- Plan for all seasons – Whether you service specific sports or you manage a retail chain that targets all types of athletes, you’ve got to be able to manage the seasons. That means having the right products on the shelves in the summer as well as the winter. If you specialize in particular sports that are popular during a certain season, you’ve got to figure out a way to earn revenue the rest of the year too. How do you handle promotions? Sports retailing is an intrinsically seasonable business.
Running a sports retail business is no easy task, but you can win it with the right solutions.