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 […]
When you’re starting a retail business, the first thing to do is make sure that your plan includes details about what type of store and how it will be marketed. You need all these things if you want your biz to succeed. What is your business plan? Who are you trying to reach with this […]
This article will show you how to get the most out of your retail marketing plan. If you’re a retailer, this article will help you understand the importance of marketing and use it effectively. Check out these best practices to know how retail marketing works. They include leveraging the channels that work for your business, […]
To survive stiff competition, businesses need to appreciate their customers. That explains why the customer appreciation day was founded. Without customers, we would have no business. In a world where consumers can go anywhere to buy anything they want at any time of day or night, our thanks go out to the people who come […]
Selling. It’s the dream of every store and many other businesses to do whatever they can to increase sales and learn how to retail. So if you’re viewing this, the odds are that you need to figure out how to make more sales through retail selling. It’s not easy! You might be wondering, “why are my sales not up to par?” “How can I improve my selling techniques?” or “How can I interact with customers?” Well, congratulations on coming across this […]
Whether you’re an e-commerce veteran or just starting, it can be hard to find a niche product that sets your business apart. Luckily for us all, the market is full of ideas. This article will touch on a few topics, including what an e-commerce niche is and how to choose your own. Niche So read […]
When you’re designing your store, it’s not just about aesthetics. It requires creativity and scientific insight to ensure that the store’s layout is perfect for its customers. In this post, we’ll explore the various ways to plan your store layout. Think about incorporating these pointers into your design and see if any of them will […]
Merchandise is one of the most important things to get right in retail and a product assortment. It requires both an art and a science. It’s imperative to have data and be able to understand your customers, as well as have a little bit of intuition into what they want. Here’s a quick overview of […]
The best way to avoid mistakes is by combining your gut instincts with data. Here are the top retail metrics and KPIs to monitor. You’ll learn about the formulas to use for metrics. You’ll also find out why it’s so important to have a solid retail analytics and reporting platform. Numbers don’t lie, so if […]
Retailers always want to make more money and maximize space. It’s a delicate balance between carrying too much or not enough inventory. What is a good inventory turnover ratio? Holding too much inventory means high storage costs, while having low stock could mean missing sales. Click To Tweet In terms of inventory management, you’re constantly […]
