August in retail comes in like a lamb and goes out like a lion, and it can roar out with great momentum if you play it right.
In this month's State of Retail episode, Cathy Wagner shares why this is the perfect time for independent retailers to lead smarter, not hustle. You'll hear the latest economic updates, actionable merchandising tips, and creative ways to deepen community engagement and boost profit. From low-lift in-store events to trends in resale and experiential retail, Cathy walks you through smart, doable strategies to help you finish summer strong and prep for Q4 with confidence.
Whether you're feeling a little frazzled or fired up, this episode will remind you: you’re not here to hustle harder, you’re here to lead smarter.
What You’ll Learn:
- Why August is the ideal moment to pivot from hustle to intentional leadership
- How to protect profit margins (hint: it starts with your initial markup!)
- Experiential retail doesn't have to be grand; small connections matter.
Key Takeaways:
- [03:07] Current Economic Trends and Consumer Behavior
- [06:05] Experiential Retail: Creating Connections
- [08:10] Community as a Competitive Edge
- [10:31] Taking Action: The Millie Moment
Your Millie Moment: Pause, Plan, and Push Forward
- Choose one low-lift in-store experience to try this month
- Audit your pricing strategy. Are you hitting that 60% initial markup?
- Pick one local vendor to collaborate or cross-promote with
- Ask yourself: What foundational project do I want done before Q4?
Resources Mentioned:
- Ready to make your second half stronger? Book a free 15-minute clarity call with our Head Coach, Crystal. It’s your next step to simplify, realign, and lead like the CEO you’re becoming with confidence and purpose.
- Get the Clearance Sale Secrets program now to liquidate unwanted retail inventory in 6 weeks, without destroying margins or discounting best sellers
Connect with ambitious store owners in the Richer Retailer Facebook Group.
Share this episode with a fellow store owner!
Remember: You're not just here to sell. You're here to shine, lead, and shape what small retail can truly be. You're doing more than enough and you're never alone in this. 💚
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