New Ways to Add Much Needed Revenue to Your Retail Store

  • Dec 16, 2011

What Are You Doing To Seek Out New Profit Centers?

Austin, Texas: I recently read an article detailing how grocers are adding sit down restaurants in their supermarkets as a way of adding revenue and improving ROI.

This is a great example of taking some of the positives of your major competition and configuring it to fit your own sales model.

Instead of rolling over and losing 100% of the eat-in business, more and more grocery stores are enticing a segment of this population with their own restaurant section.

Are you continuously looking for opportunities to expand your sales opportunities?

Take a few minutes and write down the main benefits of your major competition.

Don’t just think of intra-industry competitors. Think alternative options.

Full service car washes vs. drive-thru convenience stores.

Athletic clothing store vs. fitness center with a retail store.

Vitamin shop vs. that same fitness center with a retail section of protein shakes, bars and vitamin supplements.

Coffee shop vs. convenience store , sandwich shop or donut shop.

Once you can visualize the types of competition that is siphoning off some of your business, you can be more pro-active in winning some of it back.

Talk to your customers. Ask them if they would support your new endeavor.

Be creative in your ideas.


Think out-of-the box. Maybe very much outside of the box.

As the saying goes, if you can’t beat them, join them.

  • Category: Blog, Retailer Incentives
  • Tags: adding new revenue streams to your store, finding new profit centers, grocery stores with restaurants, retailer promotions