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 […]
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. […]
Greeting customers can have a significant impact on their experience. This is an easy investment that will help improve the customer’s impression of your company and yield some serious results. We all know that customer service is essential, but new research shows just how powerful it can be. Studies show that more than half of […]
Setting up your store to be as good and fast for customers is essential. You can’t just stay the same, or you’ll get left behind. One of the best ways to increase profitability is by running in-store events or partnering with influencers. You could also try different marketing strategies like PR, social media ads, etc. […]
Find out how to meet retail sales goals in this post. When a salesperson falls short of their targets, it is not only because they didn’t make enough money. The whole process can be difficult and time-consuming with all the different tasks that need to be done. If you’re a salesperson and have hit your […]
Marketplaces are being flooded with new sellers, but not many buyers. Bonanza is a fast-growing marketplace that has been getting more popular recently. It’s often compared to eBay, and even though it’s still relatively new, more sellers are joining the platform. If you are an eCommerce merchant and have not yet used Bonanza, now is […]
