How top retail and hospitality brands execute programs and standards on time, in full, at every site
It wasn’t too long ago that retailers and consumers were facing a plague of out-of-stock merchandise and empty shelves — on account of supply-chain disruptions in global retail. Times have certainly changed since then, and so have the challenges. A recent study shows that 50% of retailers in the U.S. are struggling with unsold inventory … Continue reading How to create an Effective Merchandising Plan
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
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
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
The start of the year is always a good time to ideate and come up with new business practices. And one of the most important areas to consider when making changes is your retail store design. Aesthetics, shopping behaviors, and consumer preferences are always evolving, so you need to make sure that your store’s look … Continue reading New Year, New Look: 9 Ways to Spruce Up the Design of Your 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
It’s the busiest time of the year for retailers. Because of all that happened since the pandemic began, most of the challenges that you’ll face this year will likely take place behind-the-scenes instead of behind the counter or on the sales floor. Online sales will surge this year due to continued social distancing and health … Continue reading Timely Order Fulfillment – How to Tips for Retailers
It's fair to say a lot has happened since the start of 2020. Consumers are responding to recent events by resetting their priorities and changing their behavior. However, as we noted in an earlier blog, many of these changes were already in the works. What's on the consumer's mind? We have identified 4 consumer concerns … Continue reading 4 Consumer Concerns Driving Purchasing Decisions for Summer in the Covid Age
The coronavirus has certainly disrupted just about every industry. Retailers are among the hardest to get hit. Between stay-at-home orders, job losses, and low consumer confidence, merchants from virtually all categories are finding themselves on shaky ground. But, in the midst of it all, retailers are finding ways to stay connected with customers and move … Continue reading 5 Ways COVID-19 Will Change Retail
The Internet of Things (IoT) is a term that’s been around for a while. And though conversation around the buzzword fluctuates, it’s is already ingrained in most major retailers’ day-to-day operations. IoT is literally every device, tool, machine, and human that transfers data over an internet connection. IoT technology in retail is expected to reach … Continue reading How IoT is Transforming Retail and Food Service
Retailers are putting processes in place to help them reach their sales goals and connect with their market and audience. As we look ahead, nothing stands out more than customer engagement, interaction, and care as a way to boost sales. Why? Because an engaged customer represents 23% more revenue than average. Companies who improve customer … Continue reading How to Engage with Your Customers
Put yourself into the shoes of your customer for a minute. You’re walking past a store selling books in the mall. Suddenly your phone pings you with a notification for a personal discount for the book you’ve been looking at on the shop’s website. Along with the discount, they even send you a map showing … Continue reading 5 IoT Trends Retailers are Capitalizing On
Whether shopping online, strolling through stores or browsing social media, it’s fair to say that the path to purchase is unlike what it used to be. 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? The Buying Decision Process … Continue reading 5 Realities Driving Customer Buying Decisions
A young population, a growing middle class, massive investments in infrastructure in one of the world's fastest rising economies are changing the retail landscape in India. Below, interesting facts and trends shaping the future of retail in India. Demographic changes and per capita income growth The India Retail Forum observes there are several macroeconomic fundamentals … Continue reading Retail in India: Facts and Emerging Trends
Emerging technologies, a booming population, and rapidly developing economies are changing the retail landscape of Africa. Below, interesting facts and trends shaping the future of African retail. Durban, SA Image Credit: Shutterstock Demographics and UrbaniZation Africa has the fastest rate of urbanization in the world. More than 40% of its population is currently living in … Continue reading Retail in Africa: Facts and Emerging Trends
Let’s just cut to the chase — if you’re a retailer, your goal is to get new customers and keep the customers you have coming back, all in the name of increased sales. Without sales, you don’t have a business. Thus, strategizing about how to maximize retail sales should be a top priority. According to … Continue reading 10 Ways To Maximize Sales In Retail
Socially conscious customers make up a growing percentage of consumers who are – quite simply – ones retailers should not ignore. It’s important for merchants to understand and support this consumer audience – ultimately aiming to also support sustainability efforts along the way. To help retailers accomplish this, consider the below. Identify Small In-Store Strategies … Continue reading Sustainability & Stores: Realistic Tips You Can Begin Applying Today
The business of retail is complex, yet for customers, it should be just the opposite. Because of this, enhancing consumer experiences must be considered from every angle in which customers engage. This includes in physical stores, via traditional e-commerce websites, during online marketplace browsing, throughout social media experiences and even as customers navigate any other … Continue reading 5 Ways Chatbots Can Enhance Customer Experience and Increase Sales in Retail
Today, some of the best shopping inspirations come from an unexpected source: the heart and soul of your customers. And few places spark that inspiration better than community. If you want to show your retail audience that you understand them, that you care about their values—if you want them to spend their money and time … Continue reading How Retailers Boost the Customer Experience Through Building Community
“The reports of my death are greatly exaggerated.” That quote which was said to be from Mark Twain, could also apply to the current state of retail. From headlines the past couple of years you might assume that sales in brick-and-mortar stores are in negative territory and on the brink of extinction (a full retail … Continue reading The Retail Apocalypse that Wasn’t: Brick-and-Mortar is Thriving
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