News Archives - Page 14 of 22 - American Quilt Retailer

Posted on September 16, 2020September 15, 2020 by AQR Piece by Piece

Emptying your Inbox

If you think emptying your inbox is impossible, think again. Check out these tips and tricks to get an inbox completely free of things to do.

The first step

The first step to emptying your inbox is setting up time to go through your email at its current state. There are three methods to tackle this approach.

Delete everything. If you haven’t done anything with the emails already, then they might not be as important as you think=. This is the quickest way to get a clean slate.
Take time to go through every single email. That’s right, take a day (or two) to open and do something with every email. Plan on spending 15 to 30 seconds on each email.
Do a combination of both. The most common method; plan on deleting every email more than three months old, and then take the time to review what’s left.

Processing your inbox

After taking the first step to cleaning out your inbox, come up with a system to make sure it stays clean. This means making folders, template responses, and unsubscribing to newsletters and promotions you don’t need or care about.

If you create a folder to place emails you need to come back to, make sure you set aside the time each week to address that folder (and stick to it).

Another method is to address the email as soon as you open it. Whether this means scheduling a task, making a phone call, or replying with a brief message, taking care of the email immediately can help to maintain productivity. And remember, you should never treat deleted emails as its own folder.

Inspiration for this post came from “The Path to Emptying Your Inbox,” by Gwen Bortner.

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Posted on September 10, 2020September 10, 2020 by AQR Piece by Piece

Managing Markdowns

Hesitant to markdown your products? Check out these best practices to know when and why you should mark those prices down.

Rule of thumb

The second sales drop on a product is the exact time you should lower its price. Customers vote on your products early, but will often wait until a better price becomes available. That’s why the timing of the first markdown is critical. Luckily, this first markdown can also have the smallest change in price (since customers will already have their eyes on it).

If markdowns are difficult for your business because you have an emotional attachment to the product, try viewing products as a pile of cash. That can help turn a subjective opinion into something more objective and help your profit margins.

Timing

Timing is another important factor. Some businesses markdown products at 60, 90, and 120 day increments.

Another way to look at markdown timing is with seasonal products. For instance, Halloween decorations aren’t full price at Christmas time. On the same page, marking down Halloween decorations for the first time a week before the holiday is just as wasteful. Customers will get better deals at other stores and this line of thought will hurt your return.

Managing inventory

Markdowns and inventory turnover are directly correlated. A lower inventory turnover means more markdowns. This helps to keep new, fresh, and better looking products in your store.

Placement

Items on sale should be placed at the front of your store, and items on clearance should be at the back. This doesn’t mean that the displays should be sloppy, though the same amount of time and care should be placed on all of your products.

What is your store’s policy for marking down products? Comment your best practices below.

Posted on August 26, 2020August 25, 2020 by AQR Piece by Piece

How your craft helps your store

When work on your craft weans your business also suffers. Finding the time, money, and support to stay up to date on your craft can prove a difficult challenge.

Read on to discover ways to stay in the game, and how your craft helps your business too.

Time

How can we find the time to work on what we love? We get it, some days it’s easiest to come home, make dinner, and turn on the TV. You’re not alone in wanting to kick back. Try some of these hacks used by busy mothers and quilt shop owners to find the time to work on the hobby you love.

Enlist help. Consider working on something the entire family can join in on. Or, if you’d rather work on a project with people your own age, plan a retreat for your friends to work on a project with you.

If a schedule is something you need, write in time in your planner to work on your hobby just like you would a haircut or a meeting. Or, if your day is full of interruptions, put your quilt blocks in a room you’re always in. Perhaps the kitchen table, to pick up and work on while you’re making coffee or waiting for someone to arrive.

Money

Another major barrier to working on your craft is money. If some projects feel like they’re too expensive, think about it this way. If you make something fabulous with the most expensive products and hang it in your store, your store will benefit too. Customers will ask questions about what you used and will buy those products so their project can look as great as yours.

Support

Remember, it’s ok to ask for help. If you miss working on your craft, ask your spouse to help with child care one weekend afternoon. If you have a birthday or holiday coming up, consider asking for supplies or a retreat as a gift so you can continue your work. Everyone likes to see someone in their life thrive, and oftentimes asking for help is the easiest way to get there.

Inspiration for this blog post came from “Don’t be a hypocrite” by Beth Montpas published in the June 2020 issue of American Quilt Retailer.

Posted on August 19, 2020August 18, 2020 by AQR Piece by Piece

Meaningful Social Connections

It seems like more and more people these days are doing a “social media detox.”

Social media companies are even getting rid of something known as “vanity metrics.” Take Instagram, who hasn’t shown the likes on photos since 2019.

Social media can be an effective tool to establish trust with your customers. These are some ways you can create meaningful content on your platforms.

All of the social medias

Your business likely has a variety of social media accounts. If you ever wondered why you have and maintain so many, think about it as a service to your customer.

On the flip side, if all of your focus is on Twitter, but your customer base checks Facebook twice as much, you’re missing out on an opportunity to connect.

Knowing what social media platforms your customer base uses and frequents can help you to organize your social media schedule.

For loyal customers who connect more frequently, think email. If you’re communicating more frequently than that, consider creating a Slack channel to stay in touch.

Creating meaningful content

Creating meaningful content will help you to stand out of the crowd. If every post feels from the outside like just another way to complete a sale, you’re making your customer feel left out. The worst case scenario may even happen; they hit the “unfollow” button.

User generated content (content created by people using your platform) is a great way to create meaning. Start by encouraging your employees to post videos or photos on their social media, and share that on your company’s pages.

Stories are also a great way to experiment with what people do and don’t want to see. Consider posting stories that do well permanently, or revamping campaigns that aren’t getting much interaction.

The world of social is always changing, and so are your customers. Viewing social media as another touchpoint to communicate with your community will show in whatever content you decide to publish.

Inspiration for this post came from “Social Media’s Changing World” by Sommer Leigh published in the June 2020 issue of American Quilt Retailer.

Posted on August 12, 2020August 11, 2020 by AQR Piece by Piece

YouTube and Your Store

Do you ever worry about the future of the quilting industry? Thanks to the power of social media and the internet, there is concrete evidence that the craft of quilting isn’t going anywhere anytime soon.

Take Laura Coia’s YouTube channel Sewveryeasy for example. Laura’s channel has over 325,000 subscribers and over 31,000,000 views. If video editing isn’t your forte, here’s how your quilt shop can utilize Laura’s work.

How you can use YouTube videos

The best part about YouTube is that it’s free and accessible for everyone to use. In addition to that, Laura’s videos provide bite-sized pieces of education that make it easy for any quilter to consume.

Laura comes out with two videos each week. If you want to add videos to your social media feed, consider linking to Laura’s videos in your posts or newsletter.

To help legitimize certain products in your store, consider adding a sign that says “as seen on YouTube – SewVeryEasy” next to products featured in Laura’s videos.

Remote classes can be even easier too; use and pause Laura’s videos during a Facebook live event to complete a project alongside your customer base.

The best part about Sewveryeasy is that Laura’s videos provide a third-party opinion with no skin in the game. Referring to Laura’s videos can help reaffirm transparency with your customer so you can avoid making them feel like just another sale.

Stay tuned next week to find out more about the Power of Video, an article by Sommer Leigh featured in the August 2020 edition of American Quilt Retailer.

Inspiration for this post came from Ivo Coia. Visit their YouTube channel or Facebook page for more information.

Posted on August 5, 2020August 4, 2020 by AQR Piece by Piece

Keeping Up with the Competition

Keeping up with the competition can be hard when you’re going against big-box stores and online quilt shops. We’ve got four tips to set yourself apart so you stay in front of customers minds.

Approaching the customer

Keep the pressure off the customer by greeting them as they enter the store. Instead of asking “May I help you?” say “Nice to see you!” instead. The goal is to make them feel welcome, not to put them on the spot, and a greeting is the same as letting the customer know you’re there and available.

Hosting events

Think about it this way; there are two restaurants that serve essentially the same menu right across the street from each other. One restaurant has people inside and around it, and the other is empty. Which restaurant are you going to eat at?

It’s a proven sales tactic that if you make your retail store look like the place to be, more business will follow. Hosting events is a great way to ensure your store stays full—and just because we’re in a pandemic doesn’t mean that fun has to stop. Host virtual events, and personally invite customers to those events. You may want to keep some small (so they feel more exclusive) and others larger to continue to build community with your client base.

Encourage self learning

People like to help themselves. Many companies have guides that answer frequently-asked customer questions. What size needle do I need? What do different thread weights mean? Post these guides on social media (and don’t forget to tag the companies!) as well as by the product on your sales floor.

Optimizing your online presence

Encourage your customers to show off how they use your products on social media through store-specific hashtags. Make sure your website includes photos of employees, the facade of your brick-and-mortar store, and a video of the sales floor. Following these tips will help to set your store apart from the rest of the competition.

Inspiration for this post came from “Become the Go-To Quilt Shop,” by Kate Colleran, Joanne Hillestad, and Kris Poor, published in the June 2020 version of American Quilt Retailer.

Posted on July 29, 2020July 28, 2020 by AQR Piece by Piece

Managing through the Coronavirus

The nation is in varying stages of managing the coronavirus. Check out these five steps to make sure your business is ready for whatever comes its way.

Adapt to the needs

Has your business ever considered a pop up shop? With a second wave of the pandemic likely, consider taking your store on the road with a portable mobile equipped with shop supplies.

Speaking of inventory, we all know masks aren’t going anywhere the remainder of 2020. Make sure you have all the supplies available to keep your community equipped with the proper PPE.

Focus on customer service

Everyone is in differing circumstances right now. It’s more important now more than ever to go the extra mile for the customer. Did someone call requesting a car delivery for their order? Getting questions about why some supplies seem more expensive than others?

Make sure you keep all your customer service requests organized and handled with care. Effectively managing these requests will ensure you keep new customers for life.

Refocus staff

Like many small businesses, keeping your staff employed remains a top priority, which means thinking outside the box. Consider shift work (even if you’ve never done it before) so employees can get orders ready at different times of demand. Also consider getting a work cell phone so staff can text pictures of what fabrics look like.

Communication is key

Simply informing your customer base that you’re open for business isn’t enough. Also inform customers what steps your business has taken to ensure it’s safe to shop. Reach out beyond your typical customer base too; are there restaurants open that need PPE for their employees? Call around and let other small businesses know how you can help.

Managing social content

Some quilt shops have hired a permanent IT person as they don’t see their online presence changing any after the pandemic is through. Facebook live and Instagram may be great for quick sales, but online retail is the best long term option.

The pandemic remains unpredictable, but some things don’t change, and that includes people having time for their craft. By managing effectively, your business can help to fill the need.

Inspiration for this post came from “Managing Through the Coronavirus Pandemic,” by Erin Byrne featured in the June 2020 issue of American Quilt Retailer.

Posted on July 22, 2020July 21, 2020 by AQR Piece by Piece

Make Change Last

Everybody experiences a major change at least once in their life. The change can take form in a natural disaster, a change in health, or relationships. The difference right now is everyone is experiencing a significant change at the same time.

Foundational change

Like many businesses, the pandemic highlighted foundational problems in your business. If cash flow became a major issue within week one or two of the quarantine, it was likely always a problem. Same goes for difficult vendors or having too much inventory.

Some solutions to these mean not just increasing sales, but looking at what you have more control of (expenses, inventory, investments, purchasing, savings, etc). Fixing the cash flow problem for your business is the best long-term solution your business can have.

If vendors have been difficult, now is the time to make new relationships. Easier said than done, we know, but everyone needs a helping hand when times are tough.

And last but not least, fix your overstock problem. A rule of thumb is your average wholesale inventory level should be between one-half and one-quarter of your annual gross retail product sales. The closer your inventory is to a quarter of your annual sales, the better you are at managing your inventory stock than most other creative retail businesses.

Review procedures

As with any drastic change, it becomes easier to try new things. If you made a sudden change to better adapt your business to operate during a pandemic, review that policy or procedure. A simple cost-benefit analysis should help you determine whether or not to keep that change, or leave it back in Q2.

For changes that make sense to keep around, determine a plan to ensure they remain moving forward. How can you keep providing online resources? Should you convert a classroom into a warehouse? These questions and more I’m sure are things your business has already considered.

For more information on how to make change last, check out “The Problem Spotlight” by Gwen Bortner published in the June issue of American Quilt Retailer.

Posted on July 15, 2020July 13, 2020 by AQR Piece by Piece

End of Year Checklist

If July 1 marks the end of your fiscal year, make sure you’ve completed this end-of-the-year checklist.

Financial report checklist

Start by reviewing last year’s revenue goals. Most businesses set a financial goal then check in every quarter to see if they’re on track to meet those goals. With coronavirus making life a little less predictable, review each quarter in the previous year to better plan for your upcoming fiscal year.

Also run financial reports, including a Profit & Loss Statement, Balance Sheet, and Cash Flow Report. This is always a good idea, and can help save time down the road. If you have any questions, schedule a meeting with your accountant now.

Update files

Update your employee information, including contact and payroll information. Also update vendor contact and payment information as well.

While you’re at it, look into your inventory. Compare both this year and last; what products did you sell during the thick of the quarantine? This will also help when it comes to planning for the volatile future a pandemic can bring.

Also consider staffing needs as well. Did your employees work more, or less this year? Did it average to about the same? Knowing this information can help manage employee expectations.

Back up and reflect

When we say back up, we mean back up the important information you have on both your computer, and phone. Once that is complete, take some time to both reflect and log your business’s accomplishments. We all know it’s been one heck of a year, but by completing this checklist, you can set yourself up for another year of success.

Inspiration for this post came from ondeck.

Posted on July 8, 2020July 7, 2020 by AQR Piece by Piece

Small Business Resources

With the coronavirus here to stay, the U.S. Chamber of Commerce published a communication toolkit that could be a big help in the messaging your business puts out. Check out everything they have to offer in the information below.

Digital Toolkit

The communication toolkit not only includes sample copy for online posts, such as: “Here’s what you can do to help prevent the spread of COVID-19 at home, work, or school,” but graphics as well.

For your employees, they have a standard employee screening questionnaire, to stay on top of preventing the spread.

And for your customers, they have a customizable flier (that even allows you to insert your company logo) so you can inform your patrons the steps you’ve taken to ensure they can shop at ease. In addition to posting updates online, be sure to use the hashtags #COVID_19 and #COVID19 to keep your posts organized.

Policy Tracker

MultiState, a company referenced by the Chamber of Commerce, created a dashboard of state and local coronavirus activity. The dashboard, set up in Excel spreadsheet form, is updated daily and provides information in easy-to-consume form.

Similarly, the site also includes data graphics on a variety of topics, including: how open each state is for business,

what each state considers essential business,

and travel restrictions by state.

For more information, including state legislative sessions, check out their website.

Other Resources

Let us know what resources you’ve been using to stay up to date. As we have discovered, coronavirus information changes daily. Staying on top of these updates, therefore, are essential for preparing our businesses for the next wave.