Foyles book profit from loss with Foyal clients

Find out how famous bookworm W&G Foyle turned a loss into a profit not only by offering exclusive benefits to its best customers, but also by stroking its Long Tail.

Could you identify your best customers? And is the size of your inventory limiting your customers’ interest in spending with you?

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One thought on “Foyles book profit from loss with Foyal clients

  1. Firstly, Foyles discovered that their new Charing Cross Road shop which stocks more than 200,000 titles along four miles of shelves has been netting more sales per customer and more customers than its other shops. Paul Currie, the Foyles chief executive, took a lesson from Chris Anderson’s The Long Tail, which argues that products in low demand or that have a low sales volume can collectively build a better market share than their rivals, or exceed the relatively few current bestsellers and blockbusters, provided the store or distribution channel is large enough. The term long tail has gained popularity as describing the retailing strategy of selling a large number of different items which each sell in relatively small quantities, usually in addition to selling large quantities of a small number of popular items.

    Second, they have encouraged customers to came back for more, both in-store and online, by customising a loyalty program that gave those customers non-price aswell as price exclusives.

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