How top retail and hospitality brands execute programs and standards on time, in full, at every site
Retail audits, store visits and hotel assessments are proven to protect the brand, drive brand standards, increase customer satisfaction and mitigate risks in multi-unit retail and hospitality. How exactly will retail audits conducted with Bindy benefit you? Here are some of the benefits you can expect from regularly visiting and auditing your sites with Bindy. … Continue reading 🚀 Who Benefits from Site Visits?
Making the most of sales and promo periods can earn your store a ton of revenue. In fact, for brick and mortar retailers, promotions generally account for anywhere from 10% to 45% of total revenue. Understanding how to manage seasonal sales and promotions is key to running a successful store. But it also requires having an … Continue reading How to Manage Seasonal Sales and Promotions Across Multiple Locations
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
This article lays out the business case and return on investment for Bindy retail execution across the customer experience, merchandising, time and cost savings, health and safety, loss prevention and communication.
"Hope is not a management strategy", "retail is detail", "inspect what you expect". Why do we have some many expressions to convey that action is more important than words alone? Program and standards execution is essential to retail and hospitality brands. Here is why. Vision vs. Reality The vision is what head office envisions. The … Continue reading 🚀 Why Store Execution Matters
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
Retailers and consumers alike have been facing the brunt of inflation of late. You don’t have to be an expert in economics to see how dramatically the prices of everything — from gas to household essentials — have been rising since the past year. June 2022 recorded an inflation rate of 9.1%, the highest we’ve … Continue reading How to Run a Thriving Retail Business Amidst Economic Uncertainty
The retail sector is facing a turbulent period. With persistent supply chain issues, labor shortages, and fears of a recession, retailers must ensure that the various components of their business—including inventory, staff, and operations—are in top shape. This is particularly true for footwear and apparel retailers. Research cited by RetailDive indicates that consumer spending on … Continue reading 6 Areas you Need to Get Right in Your Footwear and Apparel Stores
The furniture store industry has grown 1.7% per year on average since 2017 and currently stands at a market size of $75.7 billion. The market is extremely competitive, and one of the ways you can ring up more sales is by making your furniture showroom easy to navigate. If you can help customers find what … Continue reading How to Make Your Furniture Store Easier to Navigate
Ever since the pandemic, there has been a notable increase in the number of households with pets. Most pet owners consider their pets to be a part of their family and care deeply about their needs. It’s hardly surprising, therefore, that the pet care market size in the US is expected to reach $22.5 billion … Continue reading How to Make Your Pet Store Easy to Navigate
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
Many growing businesses reach a point where they start to outgrow their current market. Perhaps you’ve already managed to capture a large chunk of customers in your local area. Maybe your regional business has grown to become the top choice in your category. Whatever the case, you may find yourself exploring the possibility of expanding … Continue reading How to Scale Your Operations from Regional to National
Watch this short video demonstration of how to execute retail and hospitality brand standards and site programs with Bindy. https://videopress.com/v/Va33hyIp?resizeToParent=true&cover=true&preloadContent=metadata&useAverageColor=true OTHER Brand Standards RESOURCES Refer to the Brand Standards category for how-tos and best practices for brand standards in retail and hospitality. Learn More About Bindy Refer to the Bindy category for more information on how the … Continue reading How-To Video for Executing Brand Standards and Programs
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
Single-store retailers that have found success often start thinking about the prospect of setting up shop in other locations. This is a natural step that many businesses take, and for good reason: expanding to other locations puts your business in front of more people and opens up opportunities for growth. But as you think about how … Continue reading How to Grow a Retail Business: From 1 Store to 5 Stores
The holidays are a time of cheer, celebrations, and (unfortunately) stress. Days are busier, nights are longer and the overall well-being of yourself and your store staff is often compromised due to the extra demands that the holiday season brings. There are a lot of things to consider when it comes to preparing for this … Continue reading Tips for Smooth Store Operations This Holiday Season
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
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