1 00:00:00,080 --> 00:00:03,800 For independent retailers, profit isn't optional. It's what keeps the doors 2 00:00:03,800 --> 00:00:07,520 open. I understand cash is important. You need cash in a 3 00:00:07,520 --> 00:00:11,200 till. But if you're not making actually any money off 4 00:00:11,520 --> 00:00:15,240 your hard work, if you're not making money off the products that you're selling, then 5 00:00:15,240 --> 00:00:18,480 you're going to just end up being in the same situation. Ever felt like you're 6 00:00:18,480 --> 00:00:22,200 juggling flaming torches while blindfolded? That's pretty much the feeling 7 00:00:22,200 --> 00:00:25,960 for most indie retailers trying to keep tabs on stock. They can't keep 8 00:00:25,960 --> 00:00:28,920 an eye on everything. We didn't have to just choose what was on Mark Dub. 9 00:00:28,920 --> 00:00:30,960 We had to make sure that we were making sure that everything that we put 10 00:00:30,960 --> 00:00:34,320 on sale was out at the right discount so that we were still being profitable. 11 00:00:34,560 --> 00:00:38,240 Suddenly everything's 20% off, whether it needs it or not. But does it have to 12 00:00:38,240 --> 00:00:42,040 be that way? Here's where smart indie retailers can get an edge. I 13 00:00:42,040 --> 00:00:44,480 said some clients wanted to just like, wouldn't it just be easy if you put 14 00:00:44,480 --> 00:00:48,120 all this in? I was like, if it's selling in full price, why are you 15 00:00:48,120 --> 00:00:50,640 going to give it away for 30% off, off, off. 16 00:00:52,640 --> 00:00:56,480 Welcome to the resilient retail game plan. I'm Catherine Edley and in the 17 00:00:56,480 --> 00:01:00,160 next few minutes, you're about to get powerful real world retail strategies 18 00:01:00,630 --> 00:01:04,430 from insights shared both from my guests and myself, backed up by 19 00:01:04,430 --> 00:01:08,270 my 25 years in the retail industry. Keep listening to learn how 20 00:01:08,270 --> 00:01:12,110 to grow a thriving, profitable product business. Let's jump in 21 00:01:12,110 --> 00:01:13,350 with this latest episode. 22 00:01:16,309 --> 00:01:19,990 Let's be honest. The online business world is full of big promises and 23 00:01:19,990 --> 00:01:23,710 inflated claims. Huge growth, fast results, very little 24 00:01:23,710 --> 00:01:27,470 substance. One of the biggest shifts for me when I left corporate retail eight 25 00:01:27,470 --> 00:01:31,280 years ago and started working for myself was was realizing this. If you 26 00:01:31,280 --> 00:01:35,120 want integrity in what you sell, you can't rely on hype. You have to 27 00:01:35,120 --> 00:01:37,720 build things that create real, tangible results. 28 00:01:38,440 --> 00:01:42,280 Independent retailers don't need noise. They need outcomes they can 29 00:01:42,280 --> 00:01:45,799 see, track and trust. That's exactly why Stockdoctor 30 00:01:45,799 --> 00:01:49,480 exists. It's a done for you service built around real sales data, real 31 00:01:49,480 --> 00:01:53,280 stock data and decisions you can measure over time. We already 32 00:01:53,280 --> 00:01:57,000 know based on previous research that many Stockdoctor clients are generating 33 00:01:57,000 --> 00:02:00,560 an extra £5,000 of profit for every £100,000 of 34 00:02:00,560 --> 00:02:04,100 revenue within six months, even after the cost of the program. 35 00:02:04,260 --> 00:02:07,860 That's incredibly exciting in terms of creating real results, 36 00:02:08,260 --> 00:02:12,100 but I wanted to go deeper than that. So in this episode we're talking 37 00:02:12,100 --> 00:02:15,380 about what those results actually look like in real businesses. 38 00:02:15,780 --> 00:02:19,140 I'm joined today by Paola Majuli, our original stock 39 00:02:19,140 --> 00:02:22,860 doctor. The first person to join the program, Paola brings 40 00:02:22,860 --> 00:02:26,260 deep merchandising experience from senior roles at brands like 41 00:02:26,260 --> 00:02:29,900 Anthropologie, and she works closely with a wide range of independent 42 00:02:29,900 --> 00:02:33,500 retailers. She's been pulling together a year's worth of client 43 00:02:33,500 --> 00:02:37,340 results. And what stood out wasn't just higher profitability and lower stock 44 00:02:37,340 --> 00:02:40,780 levels. It was a shift in confidence, clarity, and energy 45 00:02:41,100 --> 00:02:44,820 once retailers stopped feeling stuck. Paola's going to walk us through 46 00:02:44,820 --> 00:02:48,340 the numbers, the patterns she's seeing, and why getting intentional about 47 00:02:48,340 --> 00:02:51,500 stock and sales can change far more than just your spreadsheet. 48 00:02:51,900 --> 00:02:55,580 This episode for me is so exciting because it proves what I've known 49 00:02:55,580 --> 00:02:59,250 all along, that the principles and best practices that we've 50 00:02:59,250 --> 00:03:02,850 learned over decades in big businesses really do make a 51 00:03:02,850 --> 00:03:06,410 difference to indie retailers in a measurable, concrete way. 52 00:03:06,730 --> 00:03:10,250 For me, it doesn't get more exciting than that. Let's dive in. 53 00:03:12,489 --> 00:03:15,690 I'm really excited to jump into 54 00:03:16,170 --> 00:03:19,850 the numbers. So, Paola, do you want to start off by just sharing 55 00:03:19,850 --> 00:03:23,380 a little bit about the research that you've just done? 56 00:03:23,460 --> 00:03:27,220 Yes. So I have now been doing stock doctor 57 00:03:27,300 --> 00:03:31,020 for nearly 18 months. So after 58 00:03:31,020 --> 00:03:34,100 first six months, we saw some growth. We saw plus 10 59 00:03:34,500 --> 00:03:37,860 sales, minus 10 stock. Now that we've done it for, 60 00:03:38,100 --> 00:03:41,220 with some clients I've got, I've been working for a full year, it has been 61 00:03:41,220 --> 00:03:44,580 even better. We're now seeing results where 62 00:03:44,900 --> 00:03:48,500 the Overall sales for 2025 were plus 17 sales, 63 00:03:49,270 --> 00:03:52,950 minus 14 stock. But also we're really working 64 00:03:53,110 --> 00:03:56,830 on businesses profitability and their profit margin, 65 00:03:56,830 --> 00:03:59,510 their gross profit margin was up by 20%. 66 00:04:00,550 --> 00:04:03,510 So it's just been so strong. 67 00:04:04,310 --> 00:04:08,150 And seeing these business owners, like, seeing, 68 00:04:08,950 --> 00:04:12,790 you know, they get this glimmer of light, you know, they started to get excited 69 00:04:12,790 --> 00:04:16,590 about their business again when, before they came to us, they were just like coming 70 00:04:16,590 --> 00:04:20,429 to us like, we're so stuck, don't know what to do. But, you know, it's 71 00:04:20,429 --> 00:04:24,109 so refreshing to be able to do what we do best, which is like being 72 00:04:24,109 --> 00:04:27,829 able to look at the data, analyze, and really just pick out those easy 73 00:04:27,829 --> 00:04:31,109 wins for them, while also helping them manage. 74 00:04:31,589 --> 00:04:35,029 Like, getting their stock down is so important, especially when these businesses are so 75 00:04:35,349 --> 00:04:36,949 overloaded with stock. 76 00:04:40,789 --> 00:04:44,509 One of my favorite sayings is turnover is vanity. Profit is 77 00:04:44,509 --> 00:04:48,140 sanity. And for independent retailers, profit isn't optional. 78 00:04:48,140 --> 00:04:51,900 It's what keeps the doors open. What still surprises me is how many 79 00:04:51,900 --> 00:04:55,620 shop owners are pricing based on what they think they should charge or what 80 00:04:55,620 --> 00:04:59,020 someone else once told them, rather than what actually works for their business. 81 00:04:59,580 --> 00:05:03,380 In this next moment, Paola talks about the hesitation she sees when it comes to 82 00:05:03,380 --> 00:05:07,140 raising prices. She asks some really direct questions. Are you happy with your 83 00:05:07,140 --> 00:05:10,780 margin? Do you actually know what it is? Because at some point you have to 84 00:05:10,780 --> 00:05:14,610 stop thinking about someone just trying to sell and start thinking 85 00:05:14,610 --> 00:05:18,170 about your business. You're not here to sell everything until you're 86 00:05:18,170 --> 00:05:21,810 exhausted. You're here to build something sustainable. This 87 00:05:21,810 --> 00:05:25,530 isn't about discounting everything. It's about making deliberate decisions that 88 00:05:25,530 --> 00:05:29,130 protect your margin and give the business room to grow. Let's listen 89 00:05:29,130 --> 00:05:32,930 in. Nothing helps you be more resilient 90 00:05:32,930 --> 00:05:36,610 than being more profitable. Right. Because that's how you can ride the wave. 91 00:05:36,690 --> 00:05:40,370 Absolutely. On the roller coaster. Absolutely. And that's something that I've been. Actually 92 00:05:40,850 --> 00:05:44,260 been speaking a lot with my clients. A lot. Because I think 93 00:05:44,260 --> 00:05:48,100 sometimes there's this overwhelming feeling that when things 94 00:05:48,180 --> 00:05:51,900 get slow, they're like, we just need sales and we need cash in. 95 00:05:51,900 --> 00:05:54,780 We need cash in the till. And sometimes some of the measures that you have 96 00:05:54,780 --> 00:05:58,580 used in the past doesn't necessarily lead to profitability, which is 97 00:05:58,580 --> 00:06:02,340 sometimes, you know, like constant discounting or blanket 98 00:06:02,340 --> 00:06:05,940 promotions to be able to, like, say to 99 00:06:06,020 --> 00:06:09,850 these clients, it's like, I understand cash is important, you need cash in 100 00:06:09,850 --> 00:06:13,650 a till. But if you're not making actually any money off 101 00:06:13,890 --> 00:06:17,650 your hard work, if you're not making money off the products that you're selling, then 102 00:06:17,650 --> 00:06:20,850 you're going to just end up being in the same situation. You're not actually getting 103 00:06:21,010 --> 00:06:24,770 any further. One way you can manage profitability is obviously through the amount 104 00:06:24,770 --> 00:06:28,370 of discounting and promoting you do. But one of the things I've been really challenging 105 00:06:28,370 --> 00:06:31,810 my clients on is, like, when you bring stock in, are you 106 00:06:31,810 --> 00:06:35,630 happy with the margins you're selling it at? Is it 30%? Is it 107 00:06:35,630 --> 00:06:39,190 40%? Is it 50%? Is it higher? Like, what is your aim? And sometimes 108 00:06:39,190 --> 00:06:42,990 they're like, oh, we've just got. You know, the RPs sure generate. 109 00:06:42,990 --> 00:06:46,750 You know, those are recommended retail prices that you've been given to follow. And 110 00:06:46,750 --> 00:06:49,670 in some respects you should because it's kind of aligning with the industry. 111 00:06:50,229 --> 00:06:53,950 However, sometimes I say to them, you're not just a business or a 112 00:06:53,950 --> 00:06:57,710 shop, you're like a brand. You're selling a lifestyle, you're selling something. So sometimes 113 00:06:57,710 --> 00:07:01,240 you can tweak those prices because at the end of the day, you have to 114 00:07:01,240 --> 00:07:04,960 survive. If you don't have enough profit going on, then you can't keep on going. 115 00:07:04,960 --> 00:07:08,720 Yeah. So that's been quite. I think, you know, to see that light bulb moment 116 00:07:08,720 --> 00:07:12,360 in my clients and going, oh, okay. And so actually they're kind of 117 00:07:12,360 --> 00:07:15,920 like, yes, they want their sales hit their targets, but also like, what's my margin 118 00:07:15,920 --> 00:07:19,640 looking like? Am I being more profitable? And. And it's. They're being more mindful 119 00:07:19,640 --> 00:07:23,240 about the decisions that they're making from choosing product, but 120 00:07:23,240 --> 00:07:26,990 also based on how much discounting they're doing in store at any point 121 00:07:26,990 --> 00:07:27,830 in time. Yeah. 122 00:07:31,590 --> 00:07:35,350 Ever felt like you're juggling flaming torches while blindfolded? That's 123 00:07:35,350 --> 00:07:38,790 pretty much the feeling for most indie retailers trying to keep tabs on 124 00:07:38,790 --> 00:07:42,470 stock, cash flow, staff and marketing week after week. 125 00:07:42,950 --> 00:07:46,750 Between tight margins and rapidly changing customer demand, there's not much room 126 00:07:46,750 --> 00:07:50,430 for error. Both myself and Paola have lived this life inside big 127 00:07:50,430 --> 00:07:54,190 retail. But the real difference is how we bring it all to the independent 128 00:07:54,190 --> 00:07:58,000 shop owner without the stress, the shame, or the finger wagging. If you've 129 00:07:58,000 --> 00:08:01,760 ever opened your stock room and found a whole lot of unsold stock, you're 130 00:08:01,760 --> 00:08:05,560 not alone. In big retail, that would trigger some pointed 131 00:08:05,640 --> 00:08:09,400 questions and probably a firing or two. But at Stock doctor, it's 132 00:08:09,400 --> 00:08:13,000 about practical solutions, helping owners clear the decks with confidence, not 133 00:08:13,000 --> 00:08:16,720 guilt. In the next part, you'll hear how empathy and 134 00:08:16,720 --> 00:08:20,520 expertise make the difference. It's a glimpse into just how complex retail is 135 00:08:20,680 --> 00:08:24,280 and why solidarity plus rock solid data are game changers. 136 00:08:26,020 --> 00:08:29,780 It's super, super fundamental. And I think it's just, it's wild. 137 00:08:29,860 --> 00:08:33,660 When you think about some of, some of my clients, before they've even come to 138 00:08:33,660 --> 00:08:36,780 us, I've said to them, like, you've done such a good job to where you've 139 00:08:36,780 --> 00:08:40,579 got to, to this point in terms of, like, the product selection that you're 140 00:08:40,579 --> 00:08:44,220 choosing. You've managed to open a shop on your own that's 141 00:08:44,220 --> 00:08:48,020 so commendable. Like, I'm like, you've done so well. But at the same 142 00:08:48,020 --> 00:08:51,590 time, it's like there were so many plates that they're spinning, so many 143 00:08:51,590 --> 00:08:55,230 hats that they're wearing the whole time. They can't keep an eye on everything. So 144 00:08:55,230 --> 00:08:58,110 the things that we've been taught, like, sort of drummed into us. And there were 145 00:08:58,110 --> 00:09:00,910 things that were drummed into us. Like we didn't have to just choose what was 146 00:09:00,910 --> 00:09:03,270 on markdown. We had to make sure that we were making sure that everything that 147 00:09:03,270 --> 00:09:06,309 we put on sale was at the right discount so that we were still being 148 00:09:06,309 --> 00:09:10,110 profitable. We had like a percentage of how much stock was 149 00:09:10,110 --> 00:09:13,710 allowed to be left in the business after sale so that the 150 00:09:13,710 --> 00:09:17,380 business wasn't carrying all this legacy old stock. And 151 00:09:17,380 --> 00:09:20,820 so when you're working with these clients and you've seen that they've got like three 152 00:09:20,820 --> 00:09:23,740 years worth of stock sitting in the back, it was like, oh my God, if 153 00:09:23,740 --> 00:09:27,380 my boss was here, this would be a completely different story. 154 00:09:27,620 --> 00:09:31,380 But obviously we're delivering it. We're delivering this service from a place of love 155 00:09:31,700 --> 00:09:35,300 and confidence and explaining to them that you've done nothing wrong. 156 00:09:35,380 --> 00:09:38,580 No one, this is, no one teaches you this. Like I didn't know this until 157 00:09:38,580 --> 00:09:42,060 I walked through the doors of my big first corporate job. Like I didn't 158 00:09:42,060 --> 00:09:45,760 realize I was just like, I'm here working in fashion. But when you 159 00:09:45,760 --> 00:09:49,600 realize the importance that goes behind profitability, managing your stock, 160 00:09:49,600 --> 00:09:53,160 making sure you've got the right weeks worth of stock in your business at any 161 00:09:53,160 --> 00:09:57,000 point, yeah, you're buying enough of those bestsellers that you're not running out good. If 162 00:09:57,000 --> 00:10:00,840 you run out of your best sellers, it would be like, it'd 163 00:10:00,840 --> 00:10:04,560 be crucified for like a week about it. Let's 164 00:10:04,560 --> 00:10:08,240 talk about progress. The kind that doesn't come with frantic midnight Google searches for how 165 00:10:08,240 --> 00:10:11,860 to clear excess stock without damaging your brand. Stockdoctor's real gift 166 00:10:11,860 --> 00:10:15,580 isn't just spreadsheets or monthly calls. It's empowering indie retailers to 167 00:10:15,580 --> 00:10:19,380 become confident data led business owners. You're not just getting numbers thrown at 168 00:10:19,380 --> 00:10:23,140 you. You're getting clarity, encouragement and a sounding board for your toughest 169 00:10:23,140 --> 00:10:26,420 decisions. It's easy to get lost on the hamster wheel. Buy, 170 00:10:26,660 --> 00:10:30,380 sell, repeat. But imagine having a trusted mentor to break down the trouble 171 00:10:30,380 --> 00:10:34,100 spots, cheer your wins and never let you slip back into old habits. 172 00:10:34,420 --> 00:10:37,950 That's the real vision here. Practical strategy delivered with warmth and 173 00:10:37,950 --> 00:10:41,710 honesty. In this next section, listen for how Paola describes 174 00:10:41,710 --> 00:10:45,470 those light bulb moments with long term clients. The confidence that 175 00:10:45,470 --> 00:10:49,190 comes from actually understanding your margins, your sales and your next 176 00:10:49,190 --> 00:10:53,029 steps. And I just think 177 00:10:53,029 --> 00:10:56,550 that's what's so joyful, is that we know it works, we know it's important. And 178 00:10:56,550 --> 00:10:59,750 then to actually get these results, I mean, I think that I'm just so proud 179 00:10:59,750 --> 00:11:03,455 and happy about what stockdocs has been able to do for people. Because you figure 180 00:11:03,455 --> 00:11:07,230 out, so after six months we're seeing plus 10% sales with 10% less 181 00:11:07,230 --> 00:11:10,870 stock, which basically effectively means that the program pays for 182 00:11:10,870 --> 00:11:14,630 itself. Exactly. Additional profit. And then I was 183 00:11:14,630 --> 00:11:17,830 really keen for you to run them again after a year to see what happens 184 00:11:17,830 --> 00:11:21,670 and then, you know, to have it even better. Right, which way around? Plus 185 00:11:21,670 --> 00:11:25,390 17 sales, minus 14 stock or the other way around? Plus 17 sales. 17 186 00:11:25,390 --> 00:11:29,230 sales. Minus 14. Minus 14. Plus 20. Gross 187 00:11:29,230 --> 00:11:33,060 profit. Percent gross profit, which is incredible. And. And 188 00:11:33,060 --> 00:11:36,860 I think just so transformational. And at a time when, you know, there are 189 00:11:36,860 --> 00:11:40,300 a lot of, you know, there's lots of positivity in the high street. I see 190 00:11:40,300 --> 00:11:43,420 some. Lots. As you say, lots of our clients are amazing and they're doing brilliantly. 191 00:11:43,500 --> 00:11:47,300 But there's also, I think whenever there's extra challenges, and 192 00:11:47,300 --> 00:11:50,660 there's always extra challenges, you need to be more resilient. You need to be more 193 00:11:50,660 --> 00:11:53,780 on top of things. And I think for us to have created a service that 194 00:11:53,780 --> 00:11:57,500 pays for itself, supports people, and also really just supports 195 00:11:57,500 --> 00:12:00,860 them as shop owners, I think that's the other great thing as well, is that 196 00:12:01,070 --> 00:12:04,910 you're doing the analysis for them, but you're also really helping them understand 197 00:12:05,550 --> 00:12:08,750 about what it means to run a profitable business, which is, 198 00:12:09,230 --> 00:12:13,030 you know, so fabulous to see as well. Yeah, it's like giving them, like, 199 00:12:13,030 --> 00:12:16,710 the responsibility of just like. And also just like, making them realize that what 200 00:12:16,710 --> 00:12:20,550 it takes to run a business is the creative side, it's 201 00:12:20,550 --> 00:12:24,150 the retail side, it's the bricks and mortar side. It's like all of that, the 202 00:12:24,150 --> 00:12:26,670 management of your staff. What I try to do is I try and get my 203 00:12:26,670 --> 00:12:30,130 clients excited about the numbers. Like, look at what this is saying. 204 00:12:30,370 --> 00:12:33,570 Look at what this is telling us. This is telling us that this is doing 205 00:12:33,570 --> 00:12:37,410 really well. Let's explore that. What does that mean? Can we, like, expand 206 00:12:37,410 --> 00:12:40,250 on this range? And then it gets them excited about the things that they do 207 00:12:40,250 --> 00:12:42,650 want to do, which is some of them love to go out and look for 208 00:12:42,650 --> 00:12:46,290 new brands and look for new products. So it's like. But given them the confidence 209 00:12:46,290 --> 00:12:49,970 to do that with the numbers, rather than it just being like, yeah, maybe 210 00:12:49,970 --> 00:12:53,170 just try it out. No, it's like, okay, this category is plus 20. 211 00:12:53,730 --> 00:12:57,470 This is running off five options. But we're running out. Like, what do we do? 212 00:12:57,470 --> 00:13:00,070 Do we buy more of that? Or do you want to explore maybe another brand 213 00:13:00,070 --> 00:13:03,270 and another price, you know, another price bucket? What do you want to do? And 214 00:13:03,270 --> 00:13:06,230 so it's not just us telling them what to do. We're giving them 215 00:13:06,550 --> 00:13:10,110 insights and then putting it back onto them and go, like, right, where do you 216 00:13:10,110 --> 00:13:12,510 want to take this? Like, where do you. What do you think this is telling 217 00:13:12,510 --> 00:13:16,110 you about your business? And then getting. So that's what I think is important. Like, 218 00:13:16,110 --> 00:13:19,910 we do the numbers, we do a data analysis, we present all this amazing, 219 00:13:19,910 --> 00:13:23,730 juicy information to give them the confidence to. To take that, to make better 220 00:13:23,730 --> 00:13:27,530 Decisions. But I also like seeing, you know, the clients that have 221 00:13:27,530 --> 00:13:31,090 been with me the longest, like, actually go, okay, so that's telling us that we 222 00:13:31,090 --> 00:13:34,530 should possibly should do. We should do this way. And there's me going, the 223 00:13:34,530 --> 00:13:38,329 soundboard. I go, yeah, sure. Like, this is what this is telling us. So it's 224 00:13:38,329 --> 00:13:41,130 exciting. It's like, it's great to know that they're using us to be able to 225 00:13:41,130 --> 00:13:44,850 pull that information, pull that data together, but also see them up level as 226 00:13:44,850 --> 00:13:48,490 business owners and seeing how they're actually growing within themselves 227 00:13:48,490 --> 00:13:52,090 in making better decisions with the information that we're giving them. And I think that's 228 00:13:52,090 --> 00:13:53,290 super exciting as well. 229 00:13:56,830 --> 00:14:00,550 There's nothing quite like hearing the transformation in a real business. When 230 00:14:00,550 --> 00:14:04,230 an independent retailer goes from stuck to thriving, the 231 00:14:04,230 --> 00:14:07,870 ripple effects are huge, not just in sales, but in confidence 232 00:14:07,870 --> 00:14:11,630 and ambition. Here's a story that really stuck with me. A client 233 00:14:11,630 --> 00:14:15,190 moving from a smaller shop to a larger, busier space and 234 00:14:15,190 --> 00:14:18,790 seeing a rapid growth, the kind that changes both your bottom line and 235 00:14:18,790 --> 00:14:22,480 your sense of what's possible. Let's listen to how Stockdoctor makes 236 00:14:22,480 --> 00:14:25,080 those leaps not just sustainable, but repeatable. 237 00:14:26,440 --> 00:14:30,120 That's where I think we're really seeing the strong results and off the back 238 00:14:30,120 --> 00:14:33,880 of what we do. And we've had one business go from a much smaller store 239 00:14:33,960 --> 00:14:37,800 that was tracking a plus five, and now they've moved into a 240 00:14:37,800 --> 00:14:41,600 bigger store with better footfall. So everything we'd done up to 241 00:14:41,600 --> 00:14:45,160 that point was compounding. And then towards the end of the second 242 00:14:45,160 --> 00:14:48,800 half, they were up +38. So it's like allowing 243 00:14:48,800 --> 00:14:52,540 these clients not just only improve their business within the 244 00:14:52,540 --> 00:14:56,260 four walls, shall we say, but it's also given them the opportunity to go, okay, 245 00:14:56,260 --> 00:15:00,060 this works. So where do I actually want my business to be? What's the 246 00:15:00,060 --> 00:15:03,180 space? How do I want to actually represent this? And so I feel like stock 247 00:15:03,180 --> 00:15:06,940 doctor as well as giving you more sales and making your stock much more productive 248 00:15:06,940 --> 00:15:10,460 and making more profit for your business to basically 249 00:15:10,460 --> 00:15:13,780 survive and grow, I think it's also just giving clients 250 00:15:14,100 --> 00:15:17,460 the confidence to actually create the business that they've always 251 00:15:17,620 --> 00:15:21,410 wanted. Because they can. They've got the numbers, they've got the cash in 252 00:15:21,410 --> 00:15:25,050 the bank, and they can actually up level. And I think that's pretty amazing, 253 00:15:25,050 --> 00:15:28,770 too. Yeah, no, absolutely. And I think that it's funny enough 254 00:15:28,770 --> 00:15:32,610 because I actually worked with a company that was fully stationary. They did sell more 255 00:15:32,610 --> 00:15:36,410 than just pencils, but it was mostly stationary. And actually using the principles 256 00:15:36,410 --> 00:15:40,010 that guide Stockdoctor, the merchandising principles. They had an 257 00:15:40,010 --> 00:15:43,770 incredible result where one year their sales were actually level, but 258 00:15:43,770 --> 00:15:47,180 their profit was up massively and, you know, like up 259 00:15:47,180 --> 00:15:50,620 £25,000 or something like that. And I think, you know, for Most small 260 00:15:50,620 --> 00:15:53,780 businesses, £25,000 additional profit is, is 261 00:15:53,780 --> 00:15:56,940 transformational. It can make a huge, huge difference. 262 00:15:58,060 --> 00:16:00,060 Huge difference, yeah, for sure. 263 00:16:03,820 --> 00:16:07,460 We all know the Black Friday drill. Emails flood in, shops scramble and 264 00:16:07,460 --> 00:16:11,180 suddenly everything's 20% off, whether it needs it or not. But does it have to 265 00:16:11,180 --> 00:16:14,590 be that way? Here's where smart indie retailers can get an edge. 266 00:16:14,910 --> 00:16:18,310 Listen in as Paola breaks down a more thoughtful approach targeting 267 00:16:18,310 --> 00:16:22,070 discounts where they'll actually help with excess stock, not just 268 00:16:22,070 --> 00:16:25,590 slashing margins because everyone else is doing it. This isn't about being 269 00:16:25,590 --> 00:16:29,350 stingy, it's about protecting your bottom line while still staying competitive in 270 00:16:29,350 --> 00:16:32,750 a noisy marketplace. You'll hear the kind of advice that 271 00:16:32,910 --> 00:16:36,030 separates strategic independence from the discount parade. 272 00:16:36,270 --> 00:16:40,030 Selective offers that drive traffic and meaningful results both in store 273 00:16:40,030 --> 00:16:43,710 and online. It's exactly the kind of savvy mindset shift that can shift the 274 00:16:43,710 --> 00:16:47,510 needle on cash flow and profit. Now let's hear some lessons learned 275 00:16:47,510 --> 00:16:51,310 from this year's Black Friday promotions, including the numbers that show it really does 276 00:16:51,310 --> 00:16:53,710 pay to resist blanket discounting. 277 00:16:55,710 --> 00:16:58,510 I thought what was interesting about this is not only do we get some great 278 00:16:58,510 --> 00:17:01,590 results, but also I'd love for you to just explain a little bit about the 279 00:17:01,590 --> 00:17:05,350 approach that you took with clients getting ready for it. Absolutely. So let me 280 00:17:05,350 --> 00:17:08,710 tell you, Black Friday week was sensational. 281 00:17:08,950 --> 00:17:12,230 I'm going to say that with my chest because it was absolutely amazing. 282 00:17:12,550 --> 00:17:16,310 So all my clients that did Black Friday or, you know, 283 00:17:16,310 --> 00:17:20,070 that I've been working with through, through Black Friday, the Overall 284 00:17:20,070 --> 00:17:23,830 result was +41 on the same week last year, 285 00:17:24,230 --> 00:17:27,950 bricks and mortars, that was a plus 20 online. There 286 00:17:27,950 --> 00:17:31,790 was a much bigger growth of plus 81. But that's because a lot of my 287 00:17:31,790 --> 00:17:35,580 clients weren't really using their online space properly. So that 288 00:17:35,580 --> 00:17:38,740 was something that we've also been correcting this year about how much product is on 289 00:17:38,740 --> 00:17:41,500 there and things like that. So Black Friday. 290 00:17:43,340 --> 00:17:46,740 So my approach was, the way I think about it is that when Black Friday 291 00:17:46,740 --> 00:17:49,860 first started many years ago, it was like, obviously done by, you know, one or 292 00:17:49,860 --> 00:17:53,540 two retailers and everyone caught on. And then it kind of got there was kind 293 00:17:53,540 --> 00:17:56,340 of like, there's a bit of rhetoric around it, like, I'm not doing it this 294 00:17:56,340 --> 00:17:59,300 year, like, I'm not going to do Black Friday, like, I'm not going to do 295 00:17:59,300 --> 00:18:02,990 this. But at the same Time. The way I look at it is just from 296 00:18:02,990 --> 00:18:06,830 the buying behavior, like, it doesn't matter what's 297 00:18:06,830 --> 00:18:10,670 going on. We know that Black Friday week, people are ready to 298 00:18:10,670 --> 00:18:14,350 shop. That is people's last pay packet before 299 00:18:14,350 --> 00:18:18,070 Christmas. And everyone's ready to shop. So the traffic is 300 00:18:18,070 --> 00:18:21,870 always there. My point of view with all my clients is that if 301 00:18:21,870 --> 00:18:25,710 you're open to it, you should do it. You should do Black Friday. You should. 302 00:18:25,710 --> 00:18:29,510 You should be seen doing it. But what I don't want you to do 303 00:18:29,510 --> 00:18:33,030 is do some crazy blanket 20% off everything, 304 00:18:33,830 --> 00:18:37,590 or like, have something running for three weeks, because that's what some people 305 00:18:37,590 --> 00:18:40,910 are doing now. I'm like, you don't need to do that. There's two things that 306 00:18:40,910 --> 00:18:44,590 we can do. By mentioning that you're in Black Friday, you are going to 307 00:18:44,590 --> 00:18:47,870 instantly drive more traffic to your business because people are 308 00:18:47,870 --> 00:18:51,670 subconsciously looking out for the bargains, right? So if you're doing Black Friday, 309 00:18:51,750 --> 00:18:54,760 they're going to go to you. But what you want to do is that when 310 00:18:54,760 --> 00:18:58,400 they get to you, you want to make sure that you have got the 311 00:18:58,400 --> 00:19:01,720 right strategy in place for your business. So, for 312 00:19:01,720 --> 00:19:05,200 example, where some of the clients that I've been working with this year 313 00:19:05,760 --> 00:19:09,120 who have come to me and maybe a slightly overstocked in certain areas, 314 00:19:09,680 --> 00:19:13,000 we would do something like a selected range that would go into 315 00:19:13,000 --> 00:19:16,360 markdown. So we would be like, okay, selected lines 316 00:19:16,360 --> 00:19:19,880 plus 30, say, for example, if it was something that really needed to be 317 00:19:19,880 --> 00:19:23,600 shifted. But what we saw was that not only did 318 00:19:23,600 --> 00:19:26,800 we manage to get rid of some of that stock that needs to be 319 00:19:26,800 --> 00:19:30,240 discounted, the price that stayed full price also 320 00:19:30,240 --> 00:19:34,080 lifted. But the lift was so much bigger than it would 321 00:19:34,080 --> 00:19:37,640 be when we would normally do that discount, say at another time of year when 322 00:19:37,640 --> 00:19:40,800 it wouldn't be marked down because the traffic was there. 323 00:19:41,520 --> 00:19:44,960 So my view was. Is like, there's no harm. 324 00:19:45,280 --> 00:19:48,160 And I think there's. Sometimes. I think we. I think you've talked about this before, 325 00:19:48,780 --> 00:19:52,500 Katherine, that sometimes people just think that if you're in markdown, it's a reflection that 326 00:19:52,500 --> 00:19:55,500 your business is bad. I'm like, no, 327 00:19:55,900 --> 00:19:59,420 it's a really useful tool to use 328 00:19:59,500 --> 00:20:03,180 if used properly and strategically. And taking 329 00:20:03,180 --> 00:20:06,980 into account the discount that you're doing. I said some clients wanted 330 00:20:06,980 --> 00:20:09,060 to just like, wouldn't it just be easy to put all this in? I was 331 00:20:09,060 --> 00:20:12,660 like, if it's selling in full price, why are you going to give it away 332 00:20:12,660 --> 00:20:16,430 for 30% off? Trust me. And I have to say, some of the clients 333 00:20:16,430 --> 00:20:19,390 that I started with me towards the end of the year, you could see in 334 00:20:19,390 --> 00:20:23,070 their eye, they're like, are you sure? And I'm like, trust me, this will 335 00:20:23,070 --> 00:20:26,910 work. I said, I will. I honestly will be surprised because someone really loves 336 00:20:26,910 --> 00:20:30,670 something. If someone really loves it, they'll buy it. They've got the money, 337 00:20:30,670 --> 00:20:33,790 they will buy it. That was one of the things that we majorly focused on, 338 00:20:33,790 --> 00:20:37,030 was like, use that time to get rid of product that was 339 00:20:37,030 --> 00:20:40,730 underperforming, rather than just wait to get rid of it at Christmas. Yeah. 340 00:20:40,730 --> 00:20:44,130 Because then you can do 30% off instead of more like 50. People expect almost 341 00:20:44,130 --> 00:20:47,330 like 50% off in a sale. So get. You can move it. And also, I 342 00:20:47,330 --> 00:20:51,130 think a really good point as well about when they hit your site on 343 00:20:51,130 --> 00:20:54,010 Black Friday and they see these things are in the offer and these things are 344 00:20:54,010 --> 00:20:56,810 not, they immediately go, right, well, these things that are not in the offer are 345 00:20:56,810 --> 00:20:59,330 obviously never going to be in an offer. So if I want it, I better 346 00:20:59,330 --> 00:21:03,170 buy it. Yeah, that's fantastic. So not only were the sales up, but also you 347 00:21:03,170 --> 00:21:06,530 were protecting the margin. I mean, that is the job, isn't it? The part. 348 00:21:06,850 --> 00:21:10,650 The job is to protect the margin. And it's like, there's feedback, you know, 349 00:21:10,650 --> 00:21:13,230 where it's like. But it's so much easier if you put everything, everything in. I'm 350 00:21:13,230 --> 00:21:16,590 like, sure, sure, it is easier. I'm not going to disagree with you. It is 351 00:21:16,590 --> 00:21:19,190 a lot easier if you can just put a blanket thing on your system and 352 00:21:19,190 --> 00:21:22,310 everything comes off. But I said, but what do you want? Do you want more 353 00:21:22,310 --> 00:21:25,870 money in the bank and funnel the traffic towards the product that you 354 00:21:25,870 --> 00:21:29,590 think isn't selling, and let's give it another shot and try and 355 00:21:29,590 --> 00:21:31,230 get rid of a little bit more of that. 356 00:21:33,790 --> 00:21:37,590 But the growth isn't just about moving premises. It's about how strategy and 357 00:21:37,590 --> 00:21:41,370 solid decision making give business owners the confidence to keep evolving. 358 00:21:41,610 --> 00:21:45,250 This next bit is all about just that. How getting your numbers 359 00:21:45,250 --> 00:21:48,890 sorted unlocks not just the cash in the bank, but the mindset to expand, 360 00:21:48,970 --> 00:21:52,610 to explore new categories, and to build a business that feels genuinely 361 00:21:52,610 --> 00:21:56,210 exciting. So if you're wondering whether all those hours spent staring at 362 00:21:56,210 --> 00:21:59,850 spreadsheets and mapping margins really pay off, here's some evidence that it does. 363 00:22:01,130 --> 00:22:04,770 Sometimes we, as humans, we always choose a path for least resistance. But I 364 00:22:04,770 --> 00:22:08,520 always say the best things, especially for businesses, 365 00:22:08,680 --> 00:22:11,720 you sometimes have to do the things that make you feel a little bit uncomfortable. 366 00:22:11,880 --> 00:22:15,520 But I know that after the results that we've had, they're like, oh, my God, 367 00:22:15,520 --> 00:22:18,520 we should so do that again, I'm like, yeah, we should, 368 00:22:19,080 --> 00:22:22,880 because it worked and you've got amazing sales and you've cleared out stock 369 00:22:22,880 --> 00:22:26,120 that wasn't working and we've protected your margins. You've had a much 370 00:22:26,200 --> 00:22:29,960 stronger sales margin during Black Friday than you did 371 00:22:29,960 --> 00:22:33,700 last year when you just blanketed everything. There were people that were 372 00:22:33,700 --> 00:22:36,620 like, I've never done it before. I don't know if I want to do it. 373 00:22:36,620 --> 00:22:40,060 And I'm like, okay, and, you know, better talk about it. But I said, look, 374 00:22:40,060 --> 00:22:43,420 you are in a bit of a heavy stock position. Don't wait until 375 00:22:43,420 --> 00:22:47,260 Boxing Day to do something about it. This is an opportunity for, like, a few 376 00:22:47,260 --> 00:22:50,820 days. It would be a dent. Not massive dentistry, but it could be a 377 00:22:50,820 --> 00:22:54,300 dent. That means that when you come to do it again at Christmas, at least 378 00:22:54,300 --> 00:22:57,260 you've started getting rid of it rather than leaving it all in one last minute. 379 00:22:57,660 --> 00:23:00,740 So. And there were a couple of people that really didn't want to do it. 380 00:23:00,740 --> 00:23:04,290 I didn't necessarily push it. I was like, I completely understand. 381 00:23:04,610 --> 00:23:08,290 If you really feel against it, then I respect that. But I would always 382 00:23:08,290 --> 00:23:12,130 give them my advice on why I think they should. And then I, you 383 00:23:12,130 --> 00:23:14,610 know, and it's up to them at the end of the day as well, so. 384 00:23:15,010 --> 00:23:18,130 And I think so valuable as well for them at a time when they're spread 385 00:23:18,130 --> 00:23:21,290 so thin and so busy to have someone who can actually just say, right, this 386 00:23:21,290 --> 00:23:23,890 is what you need to do. These are the things that I suggest that you 387 00:23:23,890 --> 00:23:27,410 discount. Off you go. Rather than them going, oh, should I do this? Should I 388 00:23:27,410 --> 00:23:30,710 do that? And I think, again, that's why, you know, with Stock doctor, we focused 389 00:23:30,710 --> 00:23:34,510 it on being a person that talks to you once a month, that can sit 390 00:23:34,510 --> 00:23:36,990 you down and just say, like, right, this is what you need to do and 391 00:23:36,990 --> 00:23:40,150 this is what you get. You're going to go for. So thanks to your hard 392 00:23:40,150 --> 00:23:43,870 work, thanks to everyone, all the clients who really put their time and effort into 393 00:23:43,870 --> 00:23:47,670 it, which is amazing. And, yeah, I guess. What, what are you excited 394 00:23:47,670 --> 00:23:51,470 about in 2026? What's your. What's your prediction? What's going to happen? 395 00:23:51,470 --> 00:23:55,160 What are you excited about? I have to say, like, I think with some of 396 00:23:55,160 --> 00:23:58,920 the clients that have been standing longer with me, I think where we've really managed 397 00:23:58,920 --> 00:24:02,240 to get the stock in a really good place, I think for me, we've been 398 00:24:02,240 --> 00:24:05,480 talking about, like, even improving the margins, even better, 399 00:24:06,040 --> 00:24:09,800 getting them to maybe expand on certain areas of 400 00:24:09,800 --> 00:24:13,400 their business, like, seeing things grow. That's super 401 00:24:13,400 --> 00:24:17,120 exciting for me. Like, businesses that have also come 402 00:24:17,120 --> 00:24:20,760 to me and maybe haven't made the most of like, 403 00:24:21,330 --> 00:24:23,770 I don't know, the certain things I love to do like money mapping and things 404 00:24:23,770 --> 00:24:26,690 like that. You know, when we're focusing on like when you've got bricks and mortar 405 00:24:26,690 --> 00:24:30,130 stores, like you're making sure that the stock is also in the right location in 406 00:24:30,130 --> 00:24:33,850 stores and things like that. And I think I'm just excited to 407 00:24:33,850 --> 00:24:37,490 just kind of like help clients, especially those that have really 408 00:24:37,570 --> 00:24:41,290 sort of got their stock in a good situation now they're helping 409 00:24:41,290 --> 00:24:44,730 them with their buying and like in terms of making sure that they're buying the 410 00:24:44,730 --> 00:24:48,440 right amount of stock of the right things. And I mean there's so 411 00:24:48,440 --> 00:24:51,600 much, I mean there's not just one thing, there's so much because each client's different. 412 00:24:51,760 --> 00:24:55,600 So it's really, really hard to sort of one specific thing. But I think like 413 00:24:55,600 --> 00:24:59,440 helping some of those bigger clients with like their buying season 414 00:24:59,440 --> 00:25:02,720 and things like that, that's always really helped. Making sure they've got a budget for 415 00:25:02,720 --> 00:25:05,920 that and make sure they've got a budget for all the right 416 00:25:06,160 --> 00:25:09,680 categories and then like working with clients 417 00:25:09,760 --> 00:25:13,600 that, you know, even getting them to really analyze who their brands that they're 418 00:25:13,600 --> 00:25:17,250 working with and make sure that they've got the better margins and all that sort 419 00:25:17,250 --> 00:25:19,650 of stuff. And that's all, you know, that's all different types of analysis that we, 420 00:25:19,730 --> 00:25:21,970 we can also pull off. So it's all very exciting. 421 00:25:26,290 --> 00:25:29,970 Thank you so much for joining me this week. I've absolutely loved this 422 00:25:30,050 --> 00:25:33,650 episode because nothing excites me more than seeing real tangible 423 00:25:33,650 --> 00:25:37,490 shifts in real life retailers. If you've enjoyed this episode, 424 00:25:37,490 --> 00:25:41,210 please do take a moment to leave us a review that would be absolutely 425 00:25:41,210 --> 00:25:44,660 fantastic and it has helps us get the podcast out to more people. If you 426 00:25:44,660 --> 00:25:48,100 like, follow or subscribe depending on the platform that you're on, you'll be the first 427 00:25:48,100 --> 00:25:51,940 to know about each new episode when it comes out on a Thursday morning. See 428 00:25:51,940 --> 00:25:52,620 you next week.