---
title: 10 Principles of Successful Retailing
description: TRAUB's key principles of successful retailing
image: https://blog.traub.io/hubfs/green%20light.jpg
---

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# 10 Principles of Successful Retailing

By [Geoff Lurie](https://blog.traub.io/blog/author/geoff-lurie) On February 07, 2019

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As promised in my earlier blog post [10 Ways Retailers Go Wrong](https://blog.traub.io/blog/10-ways-retailers-go-wrong), I have listed below the 10 key principles for successful retail.

 

**10 Key Principles of Successful Retailing**

1. **Core Customer** /  
   Define him / her and merchandise to that group
   
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2. **Be Consistent** /  
   Must extend to every area of the store...at times it may be appropriate to give up profitable business inconsistent with image
   
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3. **Unique and Differentiated Product** /   
   Need to create a distinctive reputation
   
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4. **Value** /   
   What the customer thinks is a fair price...not always tied to mark-up or cost
   
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5. **Shopping Experience **/   
   While product is paramount, shopping experience creates the image
   
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6. **Technology** /   
   Has defined the way we shop today...retailers must continually evolve yet be simple in executive
   
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7. **Omni-channel** /   
   An overused but important expression...today's business is conducted across both brick and mortar and online so the customer experience must be seamless
   
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8. **Execution** /   
   Carefully developed strategies...great execution 
   
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9. **Manage the Balance Sheet** /   
   Ensure enough resources to withstand the unplanned
   
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10. **Talent** /   
    Great stores are built by great people
    
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