{"id":3766,"date":"2012-04-19T12:00:52","date_gmt":"2012-04-19T16:00:52","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=3766"},"modified":"2012-04-19T03:37:39","modified_gmt":"2012-04-19T07:37:39","slug":"a-simple-way-to-increase-sales","status":"publish","type":"post","link":"https:\/\/www.Centives.net\/S\/2012\/a-simple-way-to-increase-sales\/","title":{"rendered":"A Simple Way to Increase Sales"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2012\/04\/041912_0712_ASimpleWayt1.jpg\" alt=\"\" width=\"548\" height=\"365\" \/><\/p>\n<p>James Surowiecki reports on research that suggests that retail chains that hire more workers and spend more money training them are more successful than those who don&#8217;t. Highlights include:<\/p>\n<ul>\n<li>Every dollar spent on additional workers and training can lead to an extra $28 in sales.<\/li>\n<li>Having more sales staff rectifies the problem of the &#8220;phantom stock-out&#8221; \u2013 this is when the store has the product but the customer is unable to find it.<\/li>\n<li>Companies that drastically reduce payroll costs don&#8217;t do well. Circuit City fired 3,000 employees, and sales dropped as the new inexperienced hires couldn&#8217;t help customers find the products they were looking for. The company went bankrupt.<\/li>\n<li>Despite this research companies continue to find ways to cut payroll costs due to the way that managerial incentives are set up, and because the benefits are distributed over time.<\/li>\n<\/ul>\n<p>To read more about how businesses have been outsourcing work to consumers, how this isn&#8217;t necessarily a bad thing, more details of the study, and what the experience of Home Depot demonstrates, click <a href=\"http:\/\/www.newyorker.com\/talk\/financial\/2012\/03\/26\/120326ta_talk_surowiecki\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/www.newyorker.com\/talk\/financial\/2012\/03\/26\/120326ta_talk_surowiecki\">The New Yorker<\/a><\/p>\n<p>Via: <a href=\"http:\/\/www.freakonomics.com\/2012\/03\/26\/how-many-workers-is-the-right-number-for-a-retailer-stories-from-trader-joes-michaels-and-whole-foods\/\">Freakonomics<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>James Surowiecki reports on research that suggests that retail chains that hire more workers and spend more money training them are more successful than those who don&#8217;t. Highlights include: Every dollar spent on additional workers and training can lead to an extra $28 in sales. Having more sales staff rectifies the problem of the &#8220;phantom [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"https:\/\/www.Centives.net\/S\/wp-content\/uploads\/2012\/04\/041912_0712_ASimpleWayt1.jpg","_links":{"self":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/3766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=3766"}],"version-history":[{"count":2,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/3766\/revisions"}],"predecessor-version":[{"id":3796,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/3766\/revisions\/3796"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/3765"}],"wp:attachment":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=3766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=3766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=3766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}