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Five Retail Resolutions That Rock

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2010 may not have been the best year for retail, but it’s behind us now! Don’t look back. 2011 promises a fresh start for success. Begin your new year with five resolutions that will rock your business world for years to come:

1.  Use Social Media
Make a resolution in 2011 to create a personal profile on Facebook and Twitter. The only way for you to understand the impact social media can have on your business is for you to understand it, digest it and implement it personally. Follow your friends – and your competitors.

2.  Buy Online
Online holiday sales were up 13% last month according to the Wall Street Journal, more than experts expected. Nine percent of all home furnishing sales were made online in 2008, and this number is also climbing. As you decide how to implement eCommerce in your business, make 12 personal purchases from various industries and online sellers in 2010. Study the strengths and weaknesses of your personal shopping experience , from the product catalog, ease of checkout, delivery options, follow up and customer service.

3. Get Ready for Y
Generation Y is coming of age. Born between 1982 and 2000, this is the largest generation of consumers ever (bigger than the Baby Boomers) and they will be the dominant consumer force for your future. As these Millennials begin to enter the marketplace as both consumers and employees, be poised to capture their attention. Study up on Gen Y personality, media, lifestyle, buying habits, pop culture and work ethic.

4.  Find someone YOUNG to do YOUNG things
You’ve got enough to do without trying to figure out to update your Facebook page, post a blog, send an email blast and create an online store while learning the buying habits of Millennials. Hire someone young to manage these young technologies. They intuitively understand social media and can aptly share your vision with a massive audience.

5.  Know your market
Market research is an expensive investment, not an expendable expense.  The Ms. Jones that bought from you five years ago is gone, and a new woman has taken her place. Do you understanding her wants, needs, desires and media choices?   Use this down economy to envision the customer you want to buy from you buy doing your homework utilizing ZipSkinny.com or by Meeting Ms. Jones.

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