Retail Today with Bob Phibbs, The Retail Doctor

Back-to-School Shopping: Costs, Inflation, and Smart Tips

With August just two weeks away, students and parents are putting together their back-to-school shopping lists. Bob Phibbs, CEO of the Retail Doctor in New York, joins Rachel Pierson on the WBBM Noon Business Hour discuss the financial impact of back-to-school shopping and how inflation and modern tech needs are driving up costs. Bob shares insights into the National Retail Federation's statistics, highlighting an average spend of $875, which for some families rivals their holiday budgets.
We explore how teachers are also feeling the pinch, often having to budget for classroom supplies themselves. Bob provides valuable advice for parents looking to find deals and manage expenses, especially during major sales events like Amazon's Prime Day and similar promotions from other retailers like Macy's and Target.
Finally, Bob suggests a collaborative approach to managing these costs by involving extended family members who might be eager to contribute to the students' academic success. Tune in for practical tips and strategies to make back-to-school shopping more manageable.

Retail Rants & Realities: Hiring & Training in 2024

Join me, as I dive into the challenges and solutions of hiring and training retail employees in 2024. In this live session, Bob answers questions from viewers, offering candid advice and insights on how to attract, train, and retain the best talent in the retail industry.
I discuss the evolving expectations of today's workforce, the importance of proper training, and the need for competitive compensation. I also address the common pitfalls of hiring practices and provide actionable tips for creating a motivated and loyal team.
Whether you're a store owner, manager, or aspiring retail professional, this episode is packed with valuable takeaways to help you navigate the complexities of modern retail employment.

Rediscovering Wonder: The Power of Curiosity and Innovation

Join Bob Fibbs, the retail doc, at the Virginia Transportation Museum in Roanoke as he explores the significance of curiosity and innovation in shaping our world. Standing beside a massive steam engine, Bob delves into historical anecdotes, such as the origin of the phrase "the real McCoy," to illustrate the power of human ingenuity.
Bob expresses concern about the current generation's lack of engagement with the world of wonder and encourages parents, aunts, uncles, and mentors to expose young minds to the marvels of history and engineering. Through captivating stories of past inventions and the challenges faced by early workers, Bob emphasizes the importance of curiosity and creativity in fostering self-esteem and driving future innovations.
Discover how simple yet ingenious solutions, like the use of sand to aid train traction, exemplify the boundless potential of human creativity. Bob's message is clear: inspire the next generation to dream big and aspire to achieve great things.
Join the conversation and share your thoughts in the comments. Bob Phibbs, the retail doc, out. Thank you.

Small Business Week: Stories from Notable Entrepreneurs

"Discover the history and significant impact of small businesses on the national economy, as well as inspiring tales of resilience, innovation, and entrepreneurship from prominent business owners. President John F. Kennedy first officiated the celebration of small businesses in the first week of May, acknowledging their significant contribution to job creation and economic activity. Highlighting the journey from humble beginnings to market dominance, these storytelling podcasts depict a vivid picture of courageous entrepreneurs who dared to challenge convention, turn risks into opportunities, and reshape the dynamics of their respective industries.Brace yourself for heartwarming stories from Deanna Wallin, founder of Naples Soap Company; Billy Eklund of Eklund's Farm Machinery; and Heidi West from Lifestyles of Saratoga. Witness how these entrepreneurs weathered business storms, revitalized family ventures, and maintained strong community ties through ethical values and sustainable practices.Also, glean knowledge and experience from admired retail entrepreneurs: Tony Drocton, CEO, Hammett; Tammy Ketterman, CEO, Ketterman's Jewelers; and Brian Trevilla, author of 'Leading in Retail.' Through an invaluable exchange of insights, lessons, and mentors, discover the true essence of small businesses symbolizing hope, opportunity, and prosperity for all.In the end, let us toast the indomitable spirit of small businesses worldwide for nurturing dreams, creating jobs, and invigorating the economy. Join us in celebrating their journey towards success.

A Deep Dive into the Skincare Phenomenon Among Teens

In this episode, Rob from WBBM NEWSRADIO delves into 'Sephora Kids,' an intriguing phenomenon involving tweens gravitating towards skincare, driven by social media platforms like TikTok. Speaking to us is Bob Phibbs, CEO of the Retail Doctor, based in New York. Bob explains how these young girls from 10 to 12-year-olds are watching skincare videos online, visiting stores like Sephora and Ulta, and selecting high-end products designed for mature skin. The result? There is an unfortunate increase in skincare issues among the young demographic, including acne and rashes.
As parents struggle to cope with the unexpected blow to household budgets from expensive skincare products, the conversation also touches upon body image, how young teens strive to be popular and imitate adults. Bob discusses the pivotal role played by retail associates

Boosting Retail Sales with Efficient Add-On Strategies

Join Bob Phibbs, a.k.a. the Retail Doc, as he shares his valuable insights on how to boost retail sales by effectively utilizing add-on strategies. Having helped retailers amass millions in sales worldwide, Bob discusses the importance and practicality of add-ons - items suggested for purchase in addition to an initial acquisition.
In this instructive episode, Bob demonstrates how a simple item like a hair massager can be the perfect add-on. Priced at just $5, it's an easy and affordable option for customers, particularly those in a salon setting. Bob emphasizes the value of starting with small, easily comprehensible add-ons before gradually introducing more complex options such as service contracts.
Framing add-ons as an opportunity rather than an imposition is key, suggests Bob. Drawing from his experience in the shoe care industry, he offers anecdotes of how small incentive schemes motivated employees to promote add-ons. Training your staff to see the value in add-ons, understand their benefits, and communicate these effectively to the customers, could enhance the shopping experience and improve sales performance.
This episode is a must-hear for anyone looking to up their retail game in 2024, providing valuable strategies and tips on how to increase sales, boost profit margins, and enhance customer experience through add-on strategies. Leave your thoughts in the comments below and stay tuned for more retail insights.

Claim Your Part of Visa & MasterCard Merchants Payment Card Settlement

Bob Phibbs discusses how Visa and Mastercard merchants based in the U.S., who paid interchange fees between January 1st, 2004, and January 25th, 2019, may be eligible for a share of a $5 billion refund. Bob emphasizes the importance of not dismissing mailed claim settlement letters and guides viewers on how to claim the money by scanning a QR code in these letters. Bob encourages his viewers to share their experiences and refers them to www.PaymentCardSettlement.com for any questions. The video aims to ensure merchants take advantage of potentially reclaiming their part of this refund. #sponsored #paymentcardsettlement #retail .

Question and Answer with Bob Phibbs, the Retail Doctor 10-1-23

How to effectively merchandise products in a small space? What to do with major disruption of your parking in your shopping district? And more with your questions answered LIVE by Bob Phibbs, the Retail Doctor

Retail Crime Is UpBut Most Refuse To Look At Why

Target is the latest retailer to announce they were closing stores due to theft. While many want to blame lax laws and organized crime, there's one thing no one is talking about... #retail #customerservice #lossprevention 
 
And if you want to read more about how you can protect yourself from shoplifting as well as employee theft read my blog at https://www.retaildoc.com/blog/stealing-shoplifting-retail-employee-theft

Ask Me Anything with Bob Phibbs the Retail Doctor

Your questions about selling, marketing, theft and more answered LIVE with Bob Phibbs, the Retail Doc. Visit RetailDoc.com to learn more about his services.