Retailers need to be forward thinking to respond to changing consumer trends and the increased need for service, convenience and safety. Business owners must be flexible to keep up with disruptions in the supply chain and transforming technology. TAP will advise you on managing financials, inventory, vendors and ecommerce so that your business will be positioned to adapt to the times and fuel its own growth.
SOME EXAMPLES OF WHAT WE DO
Store cluttered with too many SKU’s and need help paring down? TAP consultants will explain how every revenue dollar is not the same. Utilizing the COGS Worksheet and SKU Productivity Tracker, they will recommend exiting lower margin products in order to optimize profitability.
Do you know how long you hold your products on average? Are you able to calculate the cost of stocking that inventory? TAP's Inventory Worksheet and Inventory Turns Analysis will help you understand the cost of keeping inventory that doesn’t move fast enough and how to free up cash to focus on better moving products.
Do you want to launch an ecommerce site but aren’t sure where to start? TAP consultants will utilize various tools in their ECommerce Suite to help you compare platforms and analyze which one best meets your unique needs. The may also follow up with an evaluation to ensure your website is functional and user friendly.
Do you have a strategy to determine store layout and merchandise assortment? TAP consultants will review financials and leverage findings to recommend modifications to store layout and product assortment to improve sales per square foot.
Want to understand how your pricing and products measure up vs your competitors? TAP's Competitive Quadrant Tool will compare your pricing and value proposition with competitors in your space. With this information, you can better highlight key differentiators and adjust price and offerings accordingly.
Need a deeper understanding of your cash flow? TAP consultants will use their proprietary Cash Flow Tool to understand the timing of your cash inflows and outflows and determine if your business is generating sufficient funds to service daily operations, cover expenses, and fund future growth. Our consultants will work with you to identify potential expense reduction opportunities and additional sources of income.
Are you effectively using social media to target potential consumers? TAP will grant you access to their Social Media Toolkit, to help you generate brand awareness and attract new customers. They will also provide you with best practices and key metrics for Facebook, Instagram and other platforms.
Do you know how to retain your most valuable customers and market to new customer segments? TAP's Customer Segmentation Grid will outline demographics, behaviors and preferences to help determine appropriate channels and marketing efforts, which may include loyalty programs, referral programs and targeted social media programs.
Are you deciding whether to expand your physical space or move to a new location? TAP's Expansion Feasibility Worksheet will help you evaluate different options and perform a cost/benefit analysis to determine what's right for your business.
Do you have a relevant and distinct brand statement which enables you to stand out from the crowd? TAP's Brand Strategy Worksheet will help you formulate your message and clarify what makes your business unique. TAP consultants will then guide you in creating a compelling and consistent marketing strategy and help ensure it is reflected across your business.
For an example of our work in this industry, click on the image below.
Services available in Spanish. Servicios en Español.