Richer Retailer - Scaling Retail Stores Past 7 Figures

#036: Your Summer Strategy Reset | State of Retail: July 2025

It’s halftime, retailers! Can you believe we’re already halfway through 2025?
Whether you're crushing your goals or wondering where the last six months went, this episode will help you hit the reset button with purpose.
Cathy shares why now is a powerful moment to pause, reassess, and realign. You’ll hear fresh retail trends, surprising customer behaviors that could change how you approach the rest of your year. Plot twist: your second half can be stronger than your first and we’re here to help you make it happen.
What You’ll Learn:
This is a powerful time to realign and reflect on goals.
Retail is a gamble; understanding customer preferences is key.
The second half of the year can be stronger with the right mindset.
Key Takeaways:
[03:06] Trends in Retail: What’s Selling Well?
[08:43] Sales Strategies: Engaging Customers Effectively
[09:58] The Millie Mindset: Making Bold Decisions
[12:57] Recap and Next Steps for Retail Success
Your Millie Moment: Rinse, Repeat, and Rise
Take a moment today to reflect on the one thing that worked really well for you in the first half of 2025. Maybe it was a product that sold out, a marketing strategy that got results, or a personal action that made your team feel more aligned.
Now, here’s your Millie move: Rinse and repeat it on purpose.
Bring that winning move into the second half of the year with fresh energy. Get your team involved. Make it a game. Make it fun. Make it work again.
Remember: You don’t need to start from scratch. You just need to build on what’s already working.
Resources Mentioned:
Ready to make your second half stronger? Book a free 15-minute clarity call with our Head Coach, Crystal. It’s your next step to simplify, realign, and lead like the CEO you’re becoming with confidence and purpose.
Get the Clearance Sale Secrets program now to liquidate unwanted retail inventory in 6 weeks, without destroying margins or discounting best sellers
Connect with ambitious store owners in the Richer Retailer Facebook Group.
Share this episode with a fellow store owner and help them tackle cash flow challenges!
Let’s make this your most profitable, purposeful, and joy-filled season yet, because the second half is still yours to win.

#035: Encore: The Hidden Cost of Inventory Hoarding

As summer starts to heat up, it’s easy to overlook the inventory that’s quietly taking up space and eating away at your cash flow. Whether your traffic is slowing down or picking up, now is the moment to move those non-sellers and reinvest in what’s working.
In this encore of one of our most downloaded episodes, Cathy breaks down how inventory hoarding drains your profit, clutters your floor (and your mind), and keeps you from being the CEO your business needs.
With a fresh perspective and timely reminders, this is a must-listen as you prep for Q3 and set yourself up for a profitable, clutter-free fall.
Episode SummaryFrom inventory that overstays its welcome to cash flow struggles, this episode unpacks the hidden costs of holding onto unsold merchandise. Learn how bold markdown strategies, efficient inventory turnover, and a shift in mindset can transform your profits and free up cash to reinvest in your best sellers.
What You’ll Learn in This Episode:
Why holding onto slow-moving inventory is costing you more than you realize.
The benefits of bold markdown strategies and cash flow reinvestment.
How to identify best sellers and maximize inventory turnover for higher profits.
Key Takeaways:
[03:28] A story about the real cost of keeping lazy inventory.
[07:28] Strategies to turn stale inventory into cash flow.
[09:55] How a mindset shift about markdowns increases profits.
Resources & Links
Get the Clearance Sale Secrets program now to liquidate unwanted retail inventory in 6 weeks, without destroying margins or discounting best sellers
Read this blog to learn why you should never do a storewide sale!
Follow us on social media for more updates! Facebook / Instagram 
Join the community with ambitious store owners in our Richer Retailer Facebook Group
Have questions? Reach out via email!
Listener Action Steps
Never miss a moment, subscribe to Richer Retailer on your favorite podcast platform!
Loved this episode? Leave us a 5-star review to help more retailers find us!
Join the Retail Mavens community at retailmavensfb.com to brainstorm ideas and gain support from fellow retailers. 
P.S. If it’s been hanging around for 6 months or more, it’s officially freeloading. Mark it down, move it out, and make space for the products that actually pay rent!

#034: You’re Not Just a Store: You’re a Brand with Sue Kirchner

In this episode, branding expert Sue Kirchner, owner of Brand Strong Marketing, joins host Cathy to share a fundamental truth: "Your brand isn't what you say it is; it's what they say it is." Discover why a brand is more than just a logo, how it's perceived by customers, and the common mistakes businesses often make. Gain actionable tips to differentiate your business and create memorable experiences that foster customer loyalty.
What You’ll Learn in This Episode:
How to brand well: Know your customer better than they know themselves.
When to evolve: Keep talking to your customers, your brand should grow with them.
Why identity matters: Strong brands create loyal customers.
Key Takeaways:
[07:01] The Components of Brand Experience
[15:44] Common Branding Mistakes
[22:18] The Role of AI in Branding
[28:16] Building a Strong Brand Identity
Resources:
Check out Sue’s social media accounts: LinkedIn | YouTube | Instagram | Pinterest and her website. 
If you’ve got old inventory stuck on your floor, let’s clear it out, without killing your margins! Our Clearance Sale Secrets guide shows you how. Tricia used it and doubled her best day ever, on day one! Get the Clearance Sale Secrets program now!
You’re not building just any store, you’re creating an experience, a legacy, a life that’s richer in every way. Let’s make sure the business side supports that vision. Apply for your free Gameplan Call and we’ll talk through what’s working, what’s not, and your most profitable next move.
Want a behind-the-scenes look at how our top clients grow profit without burning out? Our free training, Beyond Busy: 3 Shifts to Reclaim Your Time and Boost Store Income, walks you through the exact Profit Roadmap we use in Profit Club, focusing on your role as CEO, CIO, and CFO to grow a business that’s both profitable and sustainable.
Millie Moment:
Take 15 minutes this week to ask 3 loyal customers: “What three words come to mind when you think of my store?”
Use their answers to start shaping (or reshaping) how your brand is truly perceived and where it can grow.
Connect with ambitious store owners in the Richer Retailer Facebook Group.
Share this episode with a fellow store owner and help them tackle cash flow challenges!
💚 Remember: You’re not just running a store you’re building something that matters. Your brand is the love, passion, and purpose you pour into every interaction. Keep showing up with heart. Your customers feel it and they’ll keep coming back because of it. 

#033: The Silent Profit Killer: Gut-Based Pricing Is Costing You Thousands

You are the CEO of your store. You deserve to be paid well. Your customers deserve a store that thrives.
In this power-packed episode, Cathy Donovan Wagner dives deep into one of the most overlooked threats to retail profitability: gut-based pricing. If you've ever said, “That price just feels right,” or hesitated to charge what something’s truly worth, this one’s for you.
Learn why emotion-based pricing is costing your store big-time, how to reframe your mindset around margin, and the exact markup formula successful retailers use to build financially thriving businesses.
Cathy shares real-life retail examples, psychological pricing tips, and a behind-the-scenes look at how training your team can make or break your sales strategy. 
What You’ll Learn in This Episode:
Why pricing “from the gut” is sabotaging your store’s success
Smart psychology hacks like price anchoring and story-based value
Why your role isn’t to be the cheapest, it’s to offer the best value
Key Takeaways:
[03:14] The Importance of Value-Based Pricing and not from the Gut
[05:42] Strategies for Effective Pricing
[10:45] Overcoming Team Pushback on Pricing
[13:47] Building a Profitable Retail Business
Resources Mentioned:
Free Pricing Worksheet: Apply everything from this episode to your store today!
Struggling with pricing confidence or profit clarity? Apply for your free Gameplan Call. We’ll walk through where you’re stuck, what’s possible, and the best next step for your store. And if Profit Club’s not the right fit right now, no pressure, the application will point you to a program that is.
Our FREE TRAINING: Beyond Busy: 3 shifts to reclaim your time and boost store income is designed to help you grow your profit and simplify your store life.
Your Millie Moment: Trust the Math, Not the Fear
Cathy once underpriced a stunning French outfit out of fear. Her coach challenged her to bundle it at a 58% markup. She was nervous but it sold out fast.
Your challenge: The next time you’re tempted to price from emotion or to back down because “it feels too high” pause. Take a breath.
Can you bundle it? Can you shift your strategy without giving up your margin?
Connect with ambitious store owners in the Richer Retailer Facebook Group.
Share this episode with a fellow store owner and help them tackle cash flow challenges!
You’re not just pricing a product, you’re financing your future. Try the math. Adjust the markup. Trust the process. Because profit isn’t scary. It’s strategic.

#032: Curation and Connection This Summer | State of Retail: June 2025

Clarity. Curation. Connection.
June is here and if it feels like the energy is all over the place, you're not imagining it! Some stores are swamped with tourists, others are seeing slower traffic, and many of you are wondering, “Do I need to discount everything just to keep sales moving?”
Before you make any big decisions, let’s take a breath and zoom out. In this month’s State of Retail episode, Cathy Donovan Wagner is sharing what’s working right now in independent retail and how summer can be your secret weapon for refining, not rushing.
It’s not about doing more. It’s about doing what matters most really well. Intentional curation, smarter inventory management, and merchandising that actually connects with your customers.
What You’ll Learn:
Why curation (not clutter) is the ultimate summer sales strategy this June
How to use emotional storytelling to connect, simplify, and sell
Why “value” matters more than “cheap” to today’s customer
The top retail trends emerging this summer and how to test what works for you
Key Takeaways:
[02:50] Millie Moment this June: The Importance of Curation in Retail
[06:00] Trends and Shifts in Retail
[09:55] Challenges and Intentionality in Merchandising
Resources Mentioned:
Want strategy without stress? Book a free 15-minute clarity call with our Head Coach, Crystal. It’s the perfect next step if you’re ready to lead with intentionality and grow with purpose.
Click here to sign up for VIP emails and grab even more insights from the monthly State of Retail reports.
Your Summer Millie Moment: Curate to connect.
Build intentional product collections that reflect the season and simplify decisions.
Use clear signage and strong storytelling to elevate your merchandising.
Help your customer feel smart and seen with less overwhelm and more connection.
Connect with ambitious store owners in the Richer Retailer Facebook Group.
Share this episode with a fellow store owner and help them tackle cash flow challenges!
Retail is always evolving, but with intention and community, you can make this your most meaningful summer. You’ve got this and we’re cheering you on every step of the way. 💚

#031: From Debt to Profit: How Profit First Transforms Retail Stores with Liz Szporn

True transformation in business begins the moment you decide you're no longer just a store owner, you’re a CEO building a legacy, not just a livelihood.
In this powerful, heart-opening episode of The Richer Retailer, Cathy sits down with the brilliant Liz Szporn, a Profit First coach, transformational leader, and lifelong changemaker. From helping build a business from a rental car to guiding others toward values-driven growth, Liz shares what’s possible when passion meets strategy.
It’s about stepping out of the hustle and into your highest role: the visionary who scales smart, pays herself first, human flourishing, personal development and building a life-giving business rooted in community and encouragement.
You didn’t open your store to just get by, it’s time to build a business that serves you, too. And it starts with profit.
What You’ll Learn in This Episode:
Transformation is a journey that requires self-reflection.
The transformation economy focuses on creating meaningful experiences.
It's important to define what you want to increase, decrease, or create in your business.
The four pillars of transformation are health, purpose, wisdom, and wealth.
Key Takeaways:
[03:19] Journey of Transformation: From Education to Profit First
[08:14] The Transformation Economy: Creating Meaningful Experiences
[10:47] The Four Pillars of Transformation
[18:11] Defining Your Why and Worth  for Authentic Business Growth
Resources Mentioned:
Book: Profit First by Mike Michalowicz - If you need help implementing Profit First in your retail store, that’s what we do inside our Profit Club program! Apply for it here.
Grow My Accounting Practice podcast with Mike McKellips and Ron Saharian
The Transformation Economy by Joe Pine
Learn how to scale your retail business with our free training: Beyond Busy: 3 shifts to reclaim your time and boost store income.
Want help removing obstacles? Apply for your Gameplan Call here. If Profit Club isn’t the right fit right now, the application will guide you to a program that is, so you have nothing to lose by applying—because there’s always a next level, and we’ll help you get there
Your Millie Moment:
Audit your current business structure. Are you being paid first?
Reframe your identity: Are you acting as the CEO, CFO, and CIO your business needs?
Create a transformation economy experience in your store. How does every touchpoint build your customer’s confidence?
Connect with ambitious store owners in the Richer Retailer Facebook Group.
Share this episode with a fellow store owner and help them tackle cash flow challenges!
You're not just a store owner. You are a leader, an innovator, a transformer of lives, starting with your own. And the RETAILMavens community is here to help you rise.

#030: Retail Resilience: Navigate Tariffs, Grow Customer Loyalty, and Scale Smartly

Is the economy slowing down? Maybe. But that doesn’t mean your retail business has to.
A fellow retailer recently asked Cathy a powerful question: “How to continue growing with an economy that’s in decline?” In this episode, Cathy answers with clarity, encouragement, and action. She shares the exact retail growth strategies you can use even in a slow economy to keep your momentum going. From smarter inventory management to strengthening customer loyalty, you'll walk away with data-driven ideas to protect your cash flow and stay inspired. Plus, Cathy reminds us that rising costs and tariffs don’t have to derail your store, you have more control than you think.
What You’ll Learn in This Episode:
The economy may slow down, but your store doesn't have to.
Control what you can; don't let outside factors dictate results.
Engage loyal customers through personalized outreach.
Building a strong community around your brand is essential.
Key Takeaways:
[01:56] The question that inspired this episode: “How to continue growing with an economy that’s in decline?”
[03:47] Cash flow tip: stop letting slow sellers take up space
[05:12] Rising tariffs and costs? Here's how to tariff-proof your store (see Episode 22)
Resources Mentioned:
Listen to Episode 22 – Tariff-Proof Your Store with Dana Connell
Episode 29: a great question from the audience, “How Do I Scale If I'm in the Red?” Cathy shares her personal “Millie moment” and the right order to grow your retail business when cash is tight
Apply for your Gameplan Call here. If Profit Club isn’t the right fit right now, the application will guide you to a program that is, so you have nothing to lose by applying because there’s always a next level, and we’ll help you get there
Get the Clearance Sale Secrets program now to liquidate unwanted retail inventory in 6 weeks, without destroying margins or discounting best sellers
Millie Moment:
Take a moment today to review your inventory.
Identify slow-selling items that are taking up space and capital.
Create a plan to move those items through:
Promotions
Bundle offers
Clearance sales
Clearing out slow sellers will free up space for faster-moving products and improve your cash flow.
Connect with ambitious store owners in the Richer Retailer Facebook Group.
Share this episode with a fellow store owner and help them tackle cash flow challenges!
Remember, even when the economy is unpredictable, you have the power to control what’s in your store and how you manage it. Small steps like this can make all the difference in keeping your business strong, no matter the outside challenges!

#029: Want to Scale Your Retail Business? Fix This First.

Feeling stuck in the red but dreaming of seven figures? 
In this empowering solo episode, Cathy Donovan Wagner tackles one of the most frequently asked questions by retailers: "How do I grow when I'm not even profitable yet?" Cathy shares her own journey of struggling with this exact question and lays out a clear, actionable path to stability and eventual scale. This episode is a must-listen for any store owner who’s dreaming big but struggling with red numbers.
What You’ll Learn in This Episode:
Why profit must come before scaling
The three critical steps to stabilize your business finances
Why focusing on repeat customers and bestsellers leads to faster results
How to increase your items per sale with a simple formula
Key Takeaways:
[02:57] A great question from one of our viewers.
[03:20] Step 1: Know your numbers, review P&L, debt, and expenses
[04:12] Step 2: Improve cash flow, price for a 60% IMU, clear dead stock, cut costs
[04:12] Step 3: Reduce expenses, know what your biggest expenses are.
Resources Mentioned:
Want help removing obstacles? Apply for your Gameplan Call here. If Profit Club isn’t the right fit right now, the application will guide you to a program that is, so you have nothing to lose by applying—because there’s always a next level, and we’ll help you get there
Learn how to scale your retail business with our free training: .
Or if you’re currently seeing sales below $250K/year, watch this FREE online training to build solid foundations for growth: How to Increase Your Sales So You Can Consistently Pay Yourself & Your Staff
Millie Moment:
Before you try to grow, ask if your store is profitable where you are right now?
Pause and take ownership of your numbers because when you realize you have the tools to change your financial future, that’s a true Millie Moment.
Connect with ambitious store owners in the Richer Retailer Facebook Group.
Have questions? Reach out via email!
Share this episode with a fellow store owner and help them tackle cash flow challenges!
Remember, you are loved beyond measure, and you are doing better than you think. Keep showing up, your success story is unfolding one step at a time. 💚

#028: The 3 Biggest Obstacles to Growth (and the Mindset Strategies to Beat Them)

Ever feel like you’re always a step behind, despite having great systems, a solid team, and real passion for your store?
In this powerful and personal episode, Cathy answers a heartfelt question from retailer, Linda, who asked how to "push her business to the next level.” The answer? Stop pushing. Start flowing.
This episode dives deep into the obstacles and structures that keep independent retailers stuck in survival mode, and how a few key shifts in mindset and strategy can unlock the business growth, profit, and cash flow you've been craving.
What You’ll Learn in This Episode:
Why gratitude is the foundation of the “Millie Mindset”
The real reason your cash flow and profits are tight (and how to fix it)
What’s clogging your business faucet—and how to clear it for good
Key Takeaways:
[04:39] Understanding the Mindset of a Successful Retailer
[07:36] Removing Obstacles for Business Growth
[10:43] Structuring Your Business for Profitability
[13:36] Marketing Strategies for Retail Success
Resources Mentioned:
 Book: Profit First by Mike Michalowicz - If you need help implementing Profit First in your retail store, that’s what we do inside our Profit Club program! Apply for it here.
Learn how to scale your retail business with our free training: Beyond Busy: 3 shifts to reclaim your time and boost store income.
Want help removing obstacles? Apply for your Gameplan Call here. If Profit Club isn’t the right fit right now, the application will guide you to a program that is, so you have nothing to lose by applying—because there’s always a next level, and we’ll help you get there.
Millie Moment:
Ask yourself: What’s really clogging the flow in your business? Then, just like Cathy’s bathroom faucet, REMOVE IT. You don’t need to grind more. You need to grow smarter.
Connect with ambitious store owners in the Richer Retailer Facebook Group.
Have questions? Reach out via email!
Share this episode with a fellow store owner and help them tackle cash flow challenges!
Business growth isn’t about burning out, it’s about clearing the way so what’s meant for you can Flow in. You’re not broken. You’re just one mindset shift away from your next level. And you don’t have to figure it out alone. 💚

#027: Sales Feel Weird? You’re Not Alone (and Not Stuck) | State of Retail – May 2025

What’s really happening in independent retail right now? 
We’re kicking off a brand-new monthly State of Retail episode to help you clear through the noise, get grounded in the data, and take purposeful action based on current retail trends.
In this May episode, Cathy Donovan Wagner shares the latest shifts she’s seeing across the industry, everything from slowing traffic to changing customer behavior and customer sentiment and what it all means for your store. Don’t miss the Millie Moment, designed to help you take action and lead with clarity and confidence.
Whether you’re feeling steady, slow, or stuck on a retail rollercoaster, this is for you!
What You’ll Learn:
What’s shifting in independent retail this month of May.
Many retailers are experiencing a slowdown in traffic post-Easter.
How to avoid panic discounts and instead promote slow-moving inventory creatively.
Why experimenting with sales strategies and customer engagement is key right now.
Key Takeaways:
[03:30] Why a “trust recession” is influencing customer behavior and impacting customer sentiment.
[04:33] The Millie Move: Educate before you activate.
[06:42] Activating your “pinkies” and of course your “thumbs” . Cathy’s signature metaphor for getting intentional with customer engagement.
[09:32] QuickBooks tip: Save time with Bill Pay!.
Resources Mentioned:
If you're serious about growth—and you're not interested in spinning your wheels—I invite you to book a call with one of our Maven experts. This isn't a casual Q&A. It's a qualifying conversation for retailers who want a proven coach in their corner and are ready to make smart, strategic moves toward more profit, more clarity, and more freedom.Ready to stop guessing and start growing? Apply for a strategy call to see if coaching is your next right move.
Check out Captain Kirk's QuickBooks Corner for expert bookkeeping tips and insights every month inside our Richer Retailer community.
Your Millie Moment: Educate before you activate.
Look at what’s flying out the door, your top items by quantity.
Then, check what’s dead on the floor—items that haven’t moved in 4–6 weeks.
Give your customers a clear reason to buy both now.
Share this episode with a fellow store owner and help them tackle cash flow challenges!
You don’t have to figure this out alone. Retail is shifting, but one smart step at a time, you’ve got this. See you next month for the June State of Retail!