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 […]
In retail, high prices are not always an issue if people feel that they have found the correct match. In fact, most of them will find some wiggle room in their budget to make it work as long as you employ the right service to sales techniques. But I soon learned that if you want […]
You often hear people compare salespeople to the used-car salesman or say that they could sell ice to Eskimos. However, this is not the case for the majority of them. To be a successful retail salesperson, you have to know how much talking and listening are needed. The best way to sell something successfully is […]
If you’re in the business of selling physical goods, then you know that managing inventory is a crucial part of keeping your operation running smoothly. And if you want to be a master at inventory management, then there’s one metric that you need to know inside and out: sell through rate. This article tells you […]
When it comes to how to negotiate commercial lease, there’s a lot of pressure on the tenant to get the best deal possible. After all, signing a long-term lease is a big commitment and you want to make sure that you’re not getting taken advantage of. If you’re feeling lost or overwhelmed, don’t worry – […]
If you’ve ever gone into a store and wondered why the products are arranged the way they are, you’re not alone. Have you ever noticed that some stores have all of their products neatly organized while others seem to just throw things together? There’s actually a method to this madness – it’s called planogramming. This […]
As a retailer, it’s important to understand what is retail strategy and the different factors you need to consider. So, what is retail strategy? This blog post will give you an overview of retail strategy and 5 key factors to keep in mind. I remember when I first started my eCommerce business, I had no clue what […]
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 […]
