In this episode of the Resilient Retail Game Plan podcast, I interview Lucy Greenwood, co-founder of the ethical and sustainable clothing brand Lucy & Yak.

Lucy shares insights from their journey, which began in 2017. We discuss the importance of authenticity, community building, and the brand's purpose-led initiatives.

We also touch on the challenges of maintaining strong values as the company grows, handling mistakes, and the impact of social media on brand representation.

Additionally, Lucy unveils exciting future plans, including the expansion of the 'RE-YAK' initiative and the potential launch of a mobile second-hand shop.

[02:25] What would Lucy Greenwood say is the secret of success?

[06:31] The mistake that turned into Lucy & Yak's brand identity

[10:10] The impact of community on Lucy & Yak

[17:26] Why it's so important to know your values in business

[22:44] The challenges behind building body awareness in the media

[26:49] What's next for Lucy and Yak?

Get all of the details in the show notes: https://www.resilientretailclub.com/podcast-episode/secrets-to-purpose-led-success/

Links:

Learn more about the Resilient Retail Club: https://www.resilientretailclub.com/membership/

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/

Other episodes you might like:

Finding Purpose In Your Brand with Jo Tuchener-Sharp Founder of Scamp & Dude https://www.resilientretailclub.com/podcast-episode/finding-purpose-in-your-brand/

Building In Sustainability And Changing The Fashion Business Model With Cally Russell

https://www.resilientretailclub.com/podcast-episode/building-in-sustainability-and-changing-the-fashion-business-model-with-cally-russell/

Today we are diving deep into the critical topic of profit margins and their importance in maintaining a profitable, sustainable and abundant retail business. I’m sharing examples from my retail industry experience to break down how to calculate profit margins, common mistakes to avoid, and practical strategies for improving profitability.I will also share how to balance costs and manage cash flow. Don't miss this episode filled with fundamental principles and actionable advice.

If you are looking for some additional help to working out what your profit margins should be you can download my calculator here.

[00:53] Revisiting a Popular Episode on Pricing

[02:38] Understanding Retail Profit Margins

[08:21] Common Mistakes in Calculating Retail Profit Margins

[13:38] Calculating Your Profit Margin (https://www.resilientretailclub.com/blog/calculate-retail-business-profit)

[17:03] Considering Profit Margins Across Collections and Sales Channels

[22:36] What Is A Healthy Profit Margin (https://www.resilientretailclub.com/blog/what-is-a-good-profit-margin/)

[28:06] What To Do If Profit Margins Are Low (https://www.resilientretailclub.com/blog/10-proven-ways-to-improve-the-profitability-of-your-small-business/)

[33:43] Conclusion and Final Thoughts

Links:

Profit Margin Calculator: https://futureretail.lpages.co/margin-calculator-2024/

Get more great resources in the show notes at https://www.resilientretailclub.com/podcast-episode/mastering-retail-profit-margins-with-catherine-erdly/

In this episode of the Resilient Retail Game Plan, I'm joined by Amazon selling expert Vicky Weinberg. We discuss how to make your products and brand stand out on Amazon, Vicky’s journey from a baby product brand owner to an Amazon consultant, and the importance of understanding Amazon's fee structure and fulfillment options.

Vicky emphasizes the value of utilizing all available Amazon features, making your product's unique selling points clear, and understanding your business's motivations for selling on the platform.

Tune in to hear Vicky's insights on navigating international sales on Amazon and the future changes small businesses can expect on the platform.

[01:19] Meet Vicky Weinberg: Amazon Selling Expert

[01:51] Vicky's Journey: From Baby Products to Amazon Consulting

[03:17] Can every product be sold successfully on Amazon?

[07:04] How to Maximize Your Amazon Listings

[13:41] Considerations Before Selling on Amazon

[17:08] Understanding Amazon Fulfillment Options

[20:17] Expanding Internationally with Amazon

[24:29] Future Trends and Changes on Amazon

[27:39] Conclusion and Where to Find More Information

Other episodes you might like:

155: Building a small business on Amazon with Emily Johnson

191: Dive into Google Shopping Ads with Sara Jones

In this episode of the Resilient Retail Game Plan, I'm addressing one of the most requested topics from my audience: how to clear slow stock without damaging your brand.

We'll explore what makes a discounting strategy harmful to your brand, and why it's crucial to avoid blanket discounts in favor of targeted promotions. I'll walk you through practical steps for categorizing your stock into prime, okay, ends of line, slow sellers, and out-of-season, and provide actionable tips on how to manage each category effectively.

We'll also discuss backup methods like secondary market sales and donations to clear persistent stock.

Tune in to learn how to keep your brand's value intact while managing your inventory efficiently.

[00:00] How do you clear slow stock without damaging your brand?

[01:50] Understanding Brand-Damaging Strategies

[02:57] Principles of Effective Discounting

[06:52] Identifying and Categorizing Your Stock

[10:39] Strategies for Clearing Slow Sellers

[16:06] Secondary Methods for Stock Clearance

[18:44] Additional Resources

Download a free chapter of my book from the show notes on my website at https://www.resilientretailclub.com/podcast-episode/clearing-slow-stock-without-damaging-your-brand-with-catherine-erdly/

Learn more about the Resilient Retail Club: https://www.resilientretailclub.com/membership/

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/

If you liked this episode you might also like:

196: Stock Management Questions Answered: https://www.resilientretailclub.com/podcast-episode/your-stock-management-questions-answered/

17: 5 Steps to Running a Stock Clearance Sale https://www.resilientretailclub.com/podcast-episode/5-steps-to-running-a-stock-clearance-sale/

The Power of Routines: Key Habits of Successful Retailers

Today we are delving into the routines and habits that highly successful retailers adopt to thrive. I’m breaking down essential routines—from daily to yearly planning—that help businesses stay proactive and in control. I discuss the importance of structure, focusing on critical tasks first, and regularly reviewing business performance. Listen in for practical tips on setting priorities, planning time blocks, and maintaining focus to grow and sustain a resilient retail business. Don't forget to check the show notes for a handy PDF guide on these routines.

[00:00] Routines Of Highly Successful Retailers

[02:17] Why Routines Matter for Retail Success

[05:02] Daily Routines for Retailers

[09:20] Weekly Routines for Retailers

[12:35] Monthly Routines for Retailers

[16:02] Quarterly Routines for Retailers

[18:48] Yearly Routines for Retailers

[20:11] Conclusion and Additional Resources

Get access to the show notes and your free copy of the Routines of Highly Successful Retailers pdf on our website at https://www.resilientretailclub.com/podcast-episode/routines-of-highly-successful-retailers-with-catherine-erdly/

Learn more about the Resilient Retail Club: https://www.resilientretailclub.com/membership/

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/

If you liked this episode you might also like:

24: The Planning Process: SWOT Up And Get SMART

Today I’m joined by Alice Loveday, founder of Loveday Social, to discuss how small businesses can create fun and engaging Christmas content. We emphasize the importance of planning and starting early (we mean now, in the summer!) with a strategy that includes breaking down content purposes, using creative techniques like stop motion and video transitions, and nurturing customer relationships throughout the year. Alice shares practical tips and app recommendations for creating compelling content and stresses the value of showing passion and personality to connect with audiences.

[00:00] Crafting Creative Christmas Content with Alice Loveday

[01:56] Meet Alice Loveday: Stop Motion Expert

[02:49] Breaking Down Christmas Content Strategy

[12:16] Creating Engaging and Fun Content

[17:11] Tools and Apps for Creative Content

[19:20] Finding Inspiration and Staying Creative

[23:55] Standing Out During the Christmas Rush

Get all the details in the show notes: https://www.resilientretailclub.com/podcast-episode/crafting-creative-christmas-content-with-alice-loveday/

Links:

Learn more about the Resilient Retail Club (a membership for product based business owners): https://www.resilientretailclub.com/membership/

Related Episodes in this series:

208: Stress-free Christmas Marketing for Retailers with Catherine Erdly

207: Christmas in July: Secrets to Creating Irresistible Christmas Products with Joanne Griffin

206: Christmas in July: How to Find Your Perfect Christmas Inventory

205: Christmas in July: Thriving Through the Christmas Season with Mike Cole

204: Christmas in July: Why Now is the Time to Plan Your Christmas Strategy

In this episode, I'll be sharing insights on how to prepare your Christmas marketing strategy efficiently. We've already covered strategies, handling burnout, product preparation, and more in previous episodes of this series.

Today, I'll guide you on creating a structured marketing plan, breaking down the 13-week period before Christmas, and offer tips on repurposing successful past content to ease your workload. We'll also discuss the importance of a balance between planned content and spontaneous social media posts to keep your marketing fresh and engaging.

[02:03] Importance of a Christmas Marketing Plan

[02:50] Creating a Week-by-Week Marketing Plan

[03:12] Using the Christmas Timeline to Determine Your Customer's Buying Decisions

[04:24] Choosing Christmas Promotional Activities and Offers

[05:39] Planning and Preparing Marketing Assets

[08:25] Balancing Structure and Spontaneity

Links:

Learn more about the Resilient Retail Club: https://www.resilientretailclub.com/membership/

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/

Related Episodes in this series:

207: Christmas in July: Secrets to Creating Irresistible Christmas Products with Joanne Griffin: https://www.resilientretailclub.com/podcast-episode/secrets-to-creating-irresistible-christmas-products-with-joanne-griffin/

206: Christmas in July: How to Find Your Perfect Christmas Inventory

https://www.resilientretailclub.com/podcast-episode/how-to-find-your-perfect-christmas-inventory/

205: Christmas in July: Thriving Through the Christmas Season with Mike Cole https://www.resilientretailclub.com/podcast-episode/christmas-in-july-thriving-through-the-christmas-season-with-mike-cole/

204: Christmas in July: Why Now is the Time to Plan Your Christmas Strategy https://www.resilientretailclub.com/podcast-episode/why-now-is-the-time-to-plan-your-christmas-strategy/