How top retail and hospitality brands execute programs and standards on time, in full, at every site
If a photo is worth a thousand words, can a video be priceless? Beyond the memes and cat videos, even beyond the helpful “do it yourself” home repair videos found on YouTube, videos deliver serious value to consumers and businesses. This is hardly news. Videos are one of the most consumed forms of media already. … Continue reading 5 Benefits of Videos for Brand Standards
Guess what’s costlier than diamonds these days? Acquiring customers in the retail industry. That’s right. The customer acquisition cost in retail has skyrocketed in the last eight years, recording a whopping 222% increase. How did we get here? Among other things, stricter regulations around consumer privacy, the imminent demise of third-party cookies, and the launch … Continue reading 5 Store Operations Best Practices Every Manager Must Implement
Retail execution is the set of practices and enabling technologies responsible for the complete and timely implementation of store programs, standards and directives at store level. This article sheds some light on the purpose, scope and best practices of retail execution. The intended audience is merchandisers, retail operations professionals, area sales professionals, consumer packaged goods … Continue reading What is retail Execution? Purpose, Scope and Best Practices.
A Pharmacy Inspection Checklist helps ensure stores have the right systems in place to comply with regulations and health and safety standards. Some of the information below comes from the office of the professional of New York State and is included here in case the information is moved or removed from their website. Premises Registered area … Continue reading Pharmacy Inspection Checklist
Customer Privately owned UK insurance broker and their risk management partner specializing in safety analysis and legal compliance in construction and engineering sectors. Challenge The customer required the flexibility to create and update numerous specialized forms based on client needs, record non-compliant safety issues in real time, track resolution and easily identify safety trends for … Continue reading Case study: How a Risk Management Firm Used Bindy for Safety Audits at 250 Sites
When a customer walks into a store, first impressions really do matter. As retail grows more competitive, a clean, well-considered store layout can easily mean the difference between gaining a sale or losing one. So, what do furniture and home decor retailers need to consider in order to design a showroom and product displays that … Continue reading How to Design a Furniture Showroom That Converts
Values related to sustainability, community, and corporate social responsibility (CSR) have become front and center for consumers, which is why many brands have ramped up their CSR efforts over the last few years. However, it’s worth pointing out that some retailers have long been prioritizing these values. We’re referring to co-op stores. Also known as … Continue reading 7 Tips to Successfully Manage a Retail Co-op
It’s no secret that site visits are incredibly important to your retail operations. Store audits and inspections enable you to evaluate programs and initiatives, ensure compliance, and even connect with teams on the ground. However, they can also take time. Between audit preparations, travel time, inspecting stores, and following up, site visits can take anywhere … Continue reading 6 Ways to Save Time During Site Visits and Inspections
Retail audits, also called Store Visits or Store Inspections, drive higher compliance with store program and brand standards. They are part of the retail execution workflow and designed to increase sales and profit margins, boost customer satisfaction and cut business risks. Maybe you are starting a retail audit program from scratch. Maybe you have an … Continue reading How to Build a Retail Audit Checklist
Having high standards and a strong plan of action is great, but even the best strategies will fall flat if they aren’t carried out properly. As Larry Bossidy, former AlliedSignal CEO wrote in the bestselling book, Execution: The Discipline of Getting Things Done, “Strategies most often fail because they aren’t well executed.” This lesson rings … Continue reading 6 Store Inspection Mistakes District Managers Make When Auditing Retail Stores
Use a store operations checklist and regularly inspect your locations to ensure brand standards are upheld and stores are running optimally. Use this sample Store Operations Checklist to create or update store standards or operations programs across your locations. First impressions On a scale of one to ten; how presentable is the store? Are carts … Continue reading Store Operations Checklist
Despite being a mature category, the alcoholic beverages market continues to grow. Analysts are forecasting a CAGR of 2% from 2018 to 2025, a performance that’s driven by an increase in young adult consumers and a rise in disposable income. This is great news for retailers specializing in beer, wine, and spirits. However, it’s important … Continue reading How to Audit Your Beer and Wine Retail Stores
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
Compliance with standard operating procedures, merchandising programs, health and safety directives, and loss prevention protocols is essential to the success of a retail business. Stores that stay on top of programs and brand standards run more efficiently and provide a better customer experience. But with so much going on, publishing standards does not guarantee they … Continue reading Why and How to Measure Store Compliance
A store missing its targets or failing to meet expectations can derail company revenue goals for the quarter or even the whole year. Additionally, underperforming stores can lower employee morale. This can lead to a further decline in revenue. For this reason, managers should act immediately to improve store performance when they discover that a … Continue reading 6 Ways to Improve Store Performance
Conducting store inspections (also called retail audits, store visits, or store walks) should be on every retailer’s agenda to protect store operations. Why? Store inspections promote higher overall compliance with brand standards, shrink the gap between stores and head office, and improve customer experience by ensuring merchandising, service, and safety standards are executed consistently. So … Continue reading 4 Types of Inspections that Protect Store Operations
Nobody said running a retail business would be easy. Even the most conscientious retailer can get bogged down trying to juggle the tasks that comprise day-to-day responsibilities. That’s why business operations need to be approached strategically. From managing sales associates to keeping a fresh flow of inventory stocked on the shelves, you can cut costs … Continue reading Retail Best-Practices to Help You Streamline Store Operations
Running a retail store is complex, and it might be difficult to know just where to start when you’re smoothing out your processes. But making retail operations run more efficiently should be at the top of every retail executive's to-do list, and the tips below will get you on the path to streamlined success. 1. … Continue reading 8 Ways Retailers can Streamline Store Communication and Execution
Your retail business is inherently complex. It has many moving parts and a multi-faceted cost structure. Cost of goods sold, labor costs, leasing fees, hydro costs...these costs are real and have a direct effect on a store's bottom line. Control your costs and if you sell a product for which there is demand in the … Continue reading The Business Case for Audits and Inspections in Retail
A retail audit allows retail and hospitality brands to execute brand standards, programs, and policies in areas such as operations, merchandising, loss prevention, health and safety and security across all stores, on time and in full. The audit is sometimes called an assessment or simply a visit. The audit uses retail audit software, an actionable … Continue reading What is a Retail Audit?
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