While we do not yet know exactly what sort of effect tariffs may have on products sold in liquor stores. It is smart to plan ahead! Suggestions covered in this video include:
1. Looking at product KPI data to see if buying ahead makes sense
2. Using a target margin report to ensure that you are maximizing margins to off-set any margins that may be reduced by tariffs
3. Talking to your suppliers and wholesalers to see if a like product is available that is made in the United States
4. Implement a customer loyalty program (if allowed in your state) to keep loyal customers coming back
5. Use Dual Pricing to help offset any margin loss due to tariffs
This video features the Cloud Retailer Liquor Store POS Profit System.
Questions, suggestions, comments, or interest in Cloud Retailer can be directed to sales@cloudretailer.com, https://www.cloudretailer.com or by calling 888-267-7483.
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