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, one of your most important responsibilities is keeping track of your inventory. A physical inventory count is a process where businesses count all of their physical assets and compare them to their records. This article will show you how to do inventory count in 9 steps for accurate results. What is […]
As a retailer, you know that it’s important to understand your key performance indicators (KPIs). But what does KPI mean in retail? And why is sales per square foot so important? In this blog post, we’ll discuss the answer to both of those questions. What does KPI mean in retail? KPIs are the metrics that […]
Running sales and promotions is a great way to increase sales and profits. But, how how to do promos? What are the best practices? In this comprehensive, step-by-step guide, you’ll learn everything you need to know how to do promos effectively and increase your bottom line. What is a sales promotion? A sales promotion is […]
What is product assortment? When I first started my retail business, I had no idea what is product assortment. I quickly learned that it’s one of the most important aspects of running a successful store. A product assortment is essentially the mix of products that you offer for sale. It can be a complex topic, […]
As a retailer, you know that conversion rate is important. But what does conversion mean in retail? Read on to find out how conversion rate can impact your business and what you can do to improve it. I remember when I first started my retail business, I had no idea what “conversion rate” meant. I […]
When I was younger, I worked at a retail store. It wasn’t the best job in the world, but it taught me a lot about customer service. At first, I didn’t understand why providing great customer service was so important. But after working there for a while and seeing how happy customers would be when […]
If you’re in the market for a new cash register, you may be wondering what type of cash registers are there. There are several different types of cash registers available on the market today, each with its own set of pros and cons. In this blog post, we’ll give an overview of the most popular […]
If you are in the retail grocery business, your store may experience slow sales at some point. This can be due to factors beyond your control such as the city closing down your street or seasonal sales declines or a decrease in foot traffic. This article gives you tips on how to increase sales in […]
As a retailer, you may be asking yourself the question “where does retailing fall in the supply chain, and how you can optimize your processes?”. In my own experience, I’ve found that retailing falls somewhere in between manufacturing and distribution. By understanding this placement, retailers can better improve their supply chain practices. Here are some […]
