Friday, July 24, 2009

Moan, moan, moan

We run a loyalty card scheme. For every 10 pounds you spend you get a stamp and every 10 stamps you collect you get a book up to the value of 10 pounds. Not great but not too shabby either. Customers stamps are kept on a card index behind the till, that way we can keep a record of their transactions.

So, a lady comes in at lunch and asks me to put 2 stamps on her card - £19.98. Date of last purchase? 11 December 2007. 2007! That's 20 months between purchases.

She only works round the corner.



  1. That's 20 months between purchases of over £10. Most paperbacks are under £10. So if she's only buying one book at a time, she won't have had any more stamps. Be fair!

  2. AnonymousJuly 24, 2009

    Is this scheme different from the Wedge card?


  3. Maybe sometimes she forgets to use her card?

  4. Claire GradyJuly 30, 2009

    Just read the news - very sad to hear that you are closing. I visited your shop a few times when I was in London (and bought books too!) and followed your blog when I got home to Sydney. Best of luck to both of you.

  5. Please consider selling shares in your store to your customers. We did this at Vox Pop a few months ago and raised enough money to deal with our most pressing expenses: $64,000 from about 125 people. CNN video about this event is on our frontpage:

    Adopt a valuation for your store equaling one year's total sales. If for instance $500,000, then issue 10,000 shares. Price shares at $50 and sell enough of the company to raise enough money to deal with the trouble. Don't bother researching the market for actual comparative sales value of a bookstore, etc. Presume that you have enough goodwill to sustain this 1-years-sales level of company valuation. The offering will essentially prove the valuation right or wrong. Form a new company board or community advisory board composed of shareholders. (Unless in fact you want to get out now, or of course if your problems aren't financial.)

    Best, Andy

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