Not all customers are equal in retail

by MR Magazine Staff

“The customer is always Queen/King” is an oft used saying in the retail world, but is a position that today feels outdated and ineffective. In reality, not all customers are royalty and, as we’ve seen with many companies, if you try to appeal to them all then you’re more than likely to quickly become a pauper. You should only be treating your core customers like royalty. For a long time, retail companies have desired to grow their customer groups as a way to grow revenue—if instead of just appealing to 30 to 40-year-olds, imagine if we appealed to 25 to 45-year-olds as well? How much more could that generate us in revenue? This might sound easy, but for many companies, it is a trap that is very easy to fall into. Read more at Forbes.