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 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 […]
Measuring your sales per square footage is important, but calculating it can be complicated. We’ll show you how to calculate sales per square foot and what factors you should consider when interpreting your results. What is Sales per Square Foot? In accounting, the terms sales and generated per square foot of retail space. Sales per […]
If you’re looking to get rid of inventory, liquidating it is the best way to go. But how to liquidate inventory quickly? It’s not as simple as just getting rid of everything – there are a few steps you need to take first. From destroying the inventory to holding a sale, we’ve got all the […]
Proper retail management is important for the success of your business. It will enable your business to operate at its highest capacity. This article will explain what is retail management, and the tools and tips you need. When I was younger, I worked in a retail store. It was my first job and I loved […]
How do retailers markdown products? As a retail store, you need to know how to do it without sacrificing too much profit. In this blog, I’ll share four tips on how do retailers markdown the right way. What is a Retail Markdown Strategy? A markdown strategy is a plan outlining when and how certain items […]
If you’ve ever run a business, then you know that one of the most important things is to keep accurate records. This is especially true when it comes to your finances. That’s why POS reconciliation is so important. But what does POS reconciliation mean? POS reconciliation simply refers to the process of comparing your sales […]
As a retail manager, it is important to keep your store running smoothly and efficiently. Here are 12 tips on how to manage a store successfully. I remember when I first started managing my own store. I was so excited but also very nervous. I had no idea what I was doing! But luckily, I […]
There’s not one characteristic that makes a great business leader, but people agree that being open to learning new skills and strategies is incredibly important. The best leaders are constantly reading new books and articles about retail and other industries. So, to help retailers develop and grow, we put together a list of the best […]
