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 […]
A successful retail business needs to have an assortment of new and exciting products, and there are many sources from which retailers obtain products. You can’t just rely on old or boring merchandise, so it’s essential to keep up with the latest trends in product selection. So how should you find a product to sell? […]
Before the Internet, selling used items was limited to local options. Nowadays, you can sell your old stuff on used product sale sites without even leaving your home by using an online marketplace or posting it on Craigslist. Starting an eCommerce store is easy and affordable, so don’t be afraid to try it. Click To Tweet […]
Many small businesses don’t even know where their inventory report is or how much they have. It’s so bad that nearly half are either too lazy to keep track or use a manual method like Excel spreadsheets. Data is critical to the success of any business, and it’s not as easy as one might think. […]
When it comes to selling car parts online, there are many different ways to be successful. One way is by utilizing “instant purchases,” which means offering products for sale simultaneously as they’re purchased. To keep your customers happy, you must have a convenient and easy-to-navigate website. This will help those who are new with auto […]
One of the best ways to measure your store’s performance is by measuring retail beyond sales per square foot. It tells you how efficient you are with space and gives insights for improving the layout, merchandising, staff management, etc. Retail sales per square foot are an essential metric, but it still has room for optimization. […]
It looks like there is hope for retail companies, as it turns out that many of them are taking advantage of new technology to see what shoppers want. A survey by Alteryx and RetailWire found that 81% of respondents say they gather shopper insights, which can help boost their performance. The bad news is that many […]
With the increasing number of marketplaces and services that sell products, there is more competition. Running a business can be difficult, especially when dealing with returns. It’s estimated that between 15 and 40% of online purchases are returned. Amazon also wants to keep their sellers in good standing, so they have set a limit of […]
It’s hard to be profitable when you run out of stock. It turns the best-selling item into a worst-seller, and it disrupts profitability. Now, to keep up with the times and compete against other brands already doing it right, think about how your products will be delivered across channels like e-commerce or brick-and-mortar stores. And […]
People are not just motivated by money. If you have an account with eBay, you can be one of the 167 million users selling and buying using an eBay template and are completely oblivious of how to create an eBay listing template. With the rise of e-commerce, it’s not hard to list something on eBay anymore. […]
