Attraction retailers are now in the holiday season, marking the end of another year. For some retailers, this is a busy time as customers stop in for mementos to gift to family and friends. This season is also a great time for retailers to review the past year while also planning for next year. It’s a time for healthy reflection and goal setting.
- Study your shrink and operations. It’s important for attraction retailers to take inventory and analyze their shrink. See if there were any trends in your shrink this past year. Based on that, set goals for 2026 to control these issues.
Also, how were your operating procedures this year? Consider rewriting any standard operating procedures if it will help to improve efficiency."Reflection is important in retail, as you should always have a year-end review period."
- Count the costs. Retailers should also analyze their profit and loss statements to see where improvements can be made in the new year.
If you notice that labor is an immense cost, consider scheduling differently. You probably don’t need all your staff members at the gift shop during slow days or hours, so consider scheduling more staff to come in just for those peak hours and fewer workers during the slower shifts.
- Track your SKUs and square footage. Take note of the SKUs in your store this year: Did you manage them well or were they overwhelming and hard to track? If you find that they were hard to track and reorder, try condensing your SKUs in 2026. Sometimes having a smaller assortment will offer more sales.
You’ll also want to analyze sales per square feet in your store. How did your store perform? If you recognize that sales were low in one part of the store, consider adding new fixtures or rearranging merchandise to improve in the new year.
- Assess the assortment. The end of the year is a good time to clean up your assortment and discount items with only a few pieces left. If items have not sold for months, mark them down in order to free up your open-to-buy dollars.
Now is also the time to consider whether you are all set with next year’s assortment. Make sure you have visuals you need to help your new product pop next year, too.
Reflection is important in retail, as you should always have a year-end review period. Make sure your team also understands your goals and is motivated to achieve them in the new year. Analyzing data and notes from this year will help ensure you achieve retail success in 2026.
Tommy Brown has over 30 years’ experience in retail management. He’s held positions for Dillard’s, Sears, and Six Flags Inc. and is a past ZAG vice president. He currently guides retail at the Saint Louis Zoo. Reach him at tbrown@stlzoo.org.
