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 […]
If you’re anything like me, you love to shop. But sometimes, the process of searching through endless racks of clothes or sifting through countless items online can be daunting. That’s where digital merchandise comes in. So what is digital merchandise? Digital merchandise is a great way to personalize your approach and make shopping experiences easier […]
According to First Data’s 2014 Prepaid Consumer Insights Study, 63% of customers had purchased or received a prepaid gift card in the past 12 months, with 81% saying they intend to purchase the same or more gift cards. How do you sell more gift cards to these consumers? How to sell more gift cards? Selling […]
What is the retail inventory method? This retail process is applied to estimate your stock levels. It is based on the relationship between the Cost of Goods Sold (COGS) and the Average Selling Price (ASP), so it’s a useful tool for stores. The retail inventory method is not entirely accurate and should be supplemented with […]
If you’re a business owner, then you know that customer returns can be a real pain. Not only do they cost you money in terms of the product itself, but they also take up time and resources to process. But there are ways to handle customer returns quickly and easily so that they don’t cause […]
As a retailer, you are always looking for ways to increase sales and profits. And one way that you may be able to do this is by cross merchandising! But what is cross merchandising in retail? Let’s take a closer look at what cross-merchandising is and why it’s so important, as well as some tips for implementing […]
As a retailer, it’s important to understand what is retail marketing and how the four Ps of retail marketing (product, price, place, and promotion) can be used to reach your target market. I remember when I first started my business, I had no idea what any of this meant. Thankfully, I was able to learn […]
As a business owner, you’re always looking to know how to increase operating income and improve your bottom line. Whether it’s finding new customers or reducing expenses, every little bit helps. So what are some practical ways you can increase your operating income? Here are some tips on how to increase operating income. What Is […]
Sales goals are important for any business. They help you measure progress and ensure that everyone is working towards the same objectives. But how do you actually achieve sales goals? In this blog post, we’ll share tips on how to achieve sales goals in 2022. Whether you’re looking to increase revenue, close more deals, or improve […]
When it comes to keeping customers coming back, one of the most important things you can do is show your appreciation. A little thank-you goes a long way! This article gives you more tips on how to get customers to come back to your store. I remember when I was first starting out my business, […]
