The retail industry has always been competitive, but the last few years have been more challenging than ever. People’s shopping habits have evolved dramatically and consumer expectations continue to increase. All the while, retail profit margins are shrinking. According to data from CSI Market, the specialty retail sector’s profit margins sat at 35.55% in the … Continue reading 7 Costly Mistakes to Avoid in Retail
Between rapidly changing consumer trends and more competition, agility is a super power in the retail industry. If you want to thrive today and in the coming years, it’s critical that you learn how to be fast, nimble, and adaptable. This post explores the topic of retail agility in more detail, and sheds light on … Continue reading How to Be an Agile Retailer: 6 Expert-Backed Ideas
Maybe you woke up today thinking "I haven't perfected field operations. I am not getting locations to execute brand standards and whether they do or don't, I don't know about it". Maybe you're okay with that. If so, you can stop reading now. Maybe you didn't wake up like this. Maybe you woke up thinking … Continue reading What Will You Do Today?
Retail is a highly-competitive industry with generally tight margins. Managing inventory, leases and labor costs alone make retail profitability a difficult balancing act at the best of times. But that's not all. Today's retailers must adapt to rapidly changing customer sentiments, weather and the pressures of e-commerce. Add a pandemic to the mix and it … Continue reading 3 Steps to Easier, Faster Store Execution
Getting shoppers into physical stores has become more difficult over the past year due to the pandemic. And while industry data shows that foot traffic has somewhat recovered, there’s still plenty of room to improve. As such, it’s more important than ever to focus on in-store customer conversions. After all, attracting shoppers to your store … Continue reading 5 Reasons People Leave Your Stores Without Buying Anything (and How to Fix it)
2020 year in review - 7 essential lessons and expert advice to help retailers prepare and improve their business for 2021.
So how do you grow a retail concept from 5 stores to double digits? We caught up with retail experts to share their insights.
11 tips to help you increase your local retail presence and maximize your sales in the neighborhoods that you’re a part of.
To help you figure out how to grow your retail business, we’ve put together some key steps and considerations to think about.
Promotions during COVID-19 can be a tricky. Here are 8 tips to show you how to hold a sale and maximize opportunities for customers to spend.
To get back on track, merchants need to work extra hard in the coming months. Here's 7 practical ways retailers can bounce back in Q4.
Retail returns aren’t just an eCommerce problem; all retailers should be thinking about ways to reduce returns. Here are 3 ways to reduce in-store returns.
Creating a memorable customer experience is a key way to boost sales. One way to accomplish this is through utilizing technology in retail.
A store missing its targets or failing to meet expectations can derail company revenue goals. Here are expert tips to help you improve store performance.
Publishing standards does not guarantee execution in-store. Here are 5 reasons why you should measure compliance in your stores as well as how to do so.
Franchise and corporate-owned retail stores are two different breeds. Here are 6 things you need to know about the differences between franchise vs corporate stores.
Whether you are still in the preparation phase or your stay-at-home orders have expired, here are 8 steps to take to reopen stores successfully.
So what shapes customer buying decisions? And more importantly, how can merchants better understand a customer's path to purchase so they can boost store sales?
Engaged customer represents 23% more revenue than average. Companies who improve customer engagement evidence upsell revenue increase from 13% to 51% and an increase in order size from 5% to 85%. Simply put, engaged customers buy more and spend more.
Is your store bogged down by slow and inefficient processes? Are you always having to put out fires or correct mistakes? Or maybe you have customers who aren’t too happy with the in-store experience. If you can relate to any of the above, chances are your store can use a technology upgrade and it's time … Continue reading How to Implement New Technologies in Your Retail Business