80/20 Rule:

refresher, origin and TWO retail applications

This newsletter post may serve as a refresher for experienced retailers, but bear with me, as some are not as familiar with the concept and the applications beyond the “top customer” percentage.

The Pareto principle — which exhibits the 80/20 rule as it applies to retail — was developed by Italian economist Wilfredo Pareto in 1896 in relation to land own…