As a retailer, you know that profit margins are important. But what is the average profit margin on retail? We take a look at the data to find out. For our business, we need to make sure that we’re always aware of our margins. After all, it’s one of the key indicators of how well […]
As a business owner, you know that a dependable cash register is essential to keeping your operations running smoothly. But how do cash registers work? In this blog post, we’ll show you the ins and outs of cash registers, as well as the five best models for your business in 2022. Whether you’re just starting […]
We all know the feeling of terrible customer service. You’re on hold for what feels like forever, only to be transferred five times and then told the person you need to talk to is unavailable. Or maybe you’ve been in a store where the employees are so busy chatting with each other that they ignore […]
If you are starting a retail business you may wonder, ”where do stores buy their products?” In this post, we’re going to outline different product sourcing methods and tips for finding the right manufacturer, supplier, or materials for your business. One of the most important things in retail businesses is finding reliable sources for your […]
As a business owner, one of your main goals is to keep your customers coming back. After all, it costs more to acquire new customers than it does to keep existing ones. But how do you achieve this? There are many ways how to keep customers coming back, but some methods are more effective than […]
You know what it feels like to be a customer. Therefore, as a business owner, you know why customer service is important. I once had an issue with a purchase I made online and the company’s customer service department was very unhelpful. It left me feeling frustrated and angry. After that experience, I vowed to always […]
When it comes to running a successful business, having the right tools in place is essential. And when it comes to point of sale systems, you have two main options: POS system vs cash register. But which one is right for your business? Let’s take a look at the pros and cons of the POS system […]
If you’re in retail, then you know that a planogram is key to success. But what is a planogram? And why do you need one for your business? Keep reading to find out! I remember when I first started working in retail, my manager sat me down and explained what is a planogram. At the […]
You’ve probably heard of the terms retail store, supply chain, and retail marketing. What is retail and what do these phrases mean? What is Retail, Retailer, and Retailing? What is retail? Retail is the sale of goods or services from a business to an individual consumer for their own use. A retail transaction involves a […]
If you’ve ever sold something online, chances are you’ve come across the term “consignment inventory.” But what is consigned inventory and how does it work? Consignment inventory is when someone sells goods on behalf of another person or company. The consignor (the seller) agrees to sell the goods for a commission and doesn’t receive payment […]
