How leading brands execute programs with inspections, corrective action plans and tasks
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
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.
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
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
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
Compliance with standard operating principles, merchandising programs, health and safety directives, and loss prevention protocols is essential for store success. Stores executing best practice standards run more efficiently and provide a better customer experience. But with so much going on, publishing standards does not guarantee execution in-store. Here are 5 reasons why you should measure … Continue reading Why and How to Measure Store Compliance
Retailers — actually, all entrepreneurs — are busier than ever, with most business owners feeling like they don’t have enough time. Research by management consulting company The Alternative Board found that 72% of business managers feel overwhelmed by their roles and responsibilities. Can you relate? If so, then you should make it a priority to … Continue reading 7 Manual Processes Every Retailer Should Quit Doing
Retailers who consistently score a marketing slam dunk during March Madness do so because they know their customers. These brands have spent time understanding who their customers are, where they engage and address the specific wants and needs of their target audience when they plan their March Madness marketing. To inspire your March Madness marketing … Continue reading 3 Industries that Slam Dunk March Madness
While your success as a district manager largely depends on your skills and knowledge, the tools that you’re using can significantly affect how well you do your job. That’s why it’s vital that you utilize solutions (i.e., apps, platforms, services, etc.) that keep you informed, boost your productivity, and make your job easier overall. Need … Continue reading 6 Essential Tools Every District Manager Should Use
It may be August, but if you work in the retail or CPG space, then your mind is probably in November or December (i.e. the holiday season) already. And if it isn’t, it’s high time to start thinking about the holidays. Brands across the board will surely bring their A-game to reach and convert shoppers, … Continue reading CPGs: 6 Steps to Ensure a Successful Holiday Season
Fact: CPG product launches are tough. According to I.R.I, more than 10,000 new products hit the retail shelves each year, but “less than 10 new launches capture more than $100 million in year-one sales.” If you’re a CPG firm looking to launch a new product, then your work is clearly cut out for you. How … Continue reading 5 Essential Components for a Successful In-Store CPG Launch
Having the ability to connect with consumers across various channels (i.e. physical retail stores, ecommerce, mobile, and social media) isn’t just a “nice to have.” It’s an absolute must. Make no mistake: your customers are using several channels to research, browse, and buy. Brands that want to stay competitive need to engage consumers at multiple … Continue reading 4 Tips to Help CPGs Create Brilliant Multi-Channel Campaigns
Use this sample checklist to create or update your wireless authorized retailer program across your retail locations. Checklists ensure that wireless authorized retailers merchandise and sell consistently with company standards and reseller contractual obligations. Regular audits help retailers and distributors be proactive and address issues before they become major problems. Audits also tend to cut … Continue reading Checklist for Wireless Authorized Retailers