George Troy

In this time of tremendous challenge and realignment within the retail industry, retail executives and others are searching for answers and for direction. In The Five Laws of Retail: A Proven, No-Nonsense Guide for How Retail Really Works -and Why, senior retail executive George Troy defines the underlying principals that...

Announcement: Proposal to Publish The Five Laws of Retail, Post Hill Press

Announcement: Proposal to Publish The Five Laws of Retail

24 Aug 2018

Post Hill Press has proposed to publish The Five Laws of Retail to be released in Spring of 2019. Post Hill Press is publisher of books on business and related non-fiction subjects and distributes through Simon and Schuster. More details to follow.0

The Customer Perceives Value Differently from the Retailer

23 Aug 2018

customer, retailer, value

For example, a scientist might work on a theory or project for years and years, and might even be absolutely correct in his conclusions. But if what he comes up with isn’t something that people in his community of scientists care about (or at least find interesting), he won’t be able to...

How Much Should You Charge for Your Product?

18 Jul 2018

charge, cost, how much, price, product, Retail, retail price

Setting the right retail price for your product is kind of a balancing act. You need to take many things into consideration. But then you have to step back, put yourself on the other side of the aisle, and ask yourself, “What is this product worth to a customer?” The...

There’s No Business Like Show Business

03 Jul 2018

circus, Retail, show business

Early in my career, I once worked as a department manager in a suburban department store. Each and every day, we’d receive several truckloads of merchandise for my departments. It all had to be unloaded, unpacked, and ticketed, then put on rolling racks taken out to the floor and merchandised...

Achieve Turn in a Retail Business

25 Jun 2018

inventory, magic, Retail, turn

“Turn Is Magic” because it is a reflection and result of so many activities that are happening right or happening wrong. A good turnover rate is a rate that is appropriate for whatever product, merchandise, or service you’re dealing with—that is, it generates sales and profit at a very healthy rate. Fruit...

Marking Down—Driving a Higher Turn by Throwing Things Away

12 Jun 2018

marking down, Retail, turn

Driving a higher turn also means taking mark-downs—writing stock out of stock. In a fruit stand, that means throwing the old produce away. It might seem counter-intuitive to throw things away in order to sell more, but it is not. You want people to buy your stuff, and it has to...