“Gambling is the wagering of money or something of material value (referred to as "the stakes") on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Typically, the outcome of the wager is evident within a short period.”
Although I have traded at this market for over 30 years I still get a tingle on the back of my neck each time I drive into the top end of J shed from Peel St. That tingle is anticipation. Will today’s episode in the big gamble called retailing produce a good result or disappointment?
There are so many variables in our business. There are factors which we have little control over. Will the weather be kind? Will the right customers turn up? Is my competitor going to be more aggressive today? Are tourists in town?
Then there are factors that we can influence. Will that new product get a good response? How am I going to display the new range? Will my salesmanship be at its best today? Have I got the right stock for today’s customers? Have I bought well? Much of what we do depends on our knowledge and experience.
While our daily sales performance is largely dependant on all the qualities we bring as retailers, there are enough unknowns and factors outside our control to add an excitement that few other jobs can bring. It is probably the reason why we back up after really bad days with a fresh optimism. We know that the next big sale is around the corner. We know that we can be surprised by events on any day. That is the gambling aspect of retailing – and it is a real buzz.