The appeal of live blogging is easy to understand. Retailers hosting events (i.e., sales, charity events, holiday specials) want to make the most of them, which can now include sharing the experience online. This marketing strategy offers an opportunity to position your company as an engaging thought leader, a valued resource, and a fun, lively place to shop. Giving people a peek behind the scenes can also result in some highly coveted earned media coverage.

Live blogging may also be easier than you think. There are great tools out there that make things easy to set up. Software platforms like CoverItLive and ScribbleLive allow for an online experience that replicates the interactive experience of a panel Q&A or roundtable discussion, and most options are inexpensive or free. Blogging content management systems like WordPress often include plug-ins that allow for speedy blogging during an event as well. And of course, there’s also the option of simply using Twitter.

Live blogging can take place over the course of a short, one time only event, or it can be an essential part of a larger happening. One great example on the grander scale was Chicago Ideas Week, held in October 2011. The seven day event was designed to bring together the best and brightest minds from around the world. On Twitter, search for the #CIW11 hashtag resulted in scores of tweets about the discussions occurring simultaneously all over town. All it took was the creation of a hashtag and a little encouragement on Twitter to get users talking about it.

While live blogging can be an effective, cost efficient way to extend influence in social spaces, efforts should be managed with care. Recognizing the considerable marketing potential of live blogging and tweeting events, brand managers are often tempted to jump in without considering a few essentials: tactics, strategy and logistics. Consider the following factors to successfully harness the brand building power of live blogging, become a thought leader and generate lots of media attention:

1) Staff appropriately. Active engagement depends on having the right kind of person behind a brand’s social media presence. Your brand’s “Wizard of Oz” should be enthusiastic, knowledgeable and have a penchant for detail. People want to engage with and listen to brands with personality, and whose interests are perceived to be in line with their own. Small business owners, sometimes you are the best for the job! After all, who knows your business better than you do?

2) Promote. Publicize that your brand will be attending and live tweeting an event via your social channels and website(s) leading up to the event, including regular reminders as the event approaches. Don’t forget to follow up with an in-depth blog post for those who missed it live.

3) Plan ahead. Ensure you’ll have reliable technology in place no matter where you’ll be live blogging from, including access to steady WiFi or 3G service if needed.

4) Mix it up. Include photos, direct quotes from customers, and even a short video in your coverage. It will make the audience feel more connected than merely following a stream of text.

5) Feel the flow. All things in moderation, social media included. Keep your posts concise, share only the most important parts of the event, and leave readers wanting more (perhaps persuading them to drop by the store). Make an outline of important happenings at the event beforehand, to keep you on track. Most importantly, listen to feedback from your followers for future live blogging events.

Jacqueline Zenn is Social Media Strategist for SociaLogic, a social media marketing agency in Chicago.

Dollar Stores High Growth Retailing Sector

Dollar stores have become a force to be reckoned with, as they are among the hottest high growth retailing sectors. As wholesale topic writer, Claudia Bruemmer explains, “Posting some of the highest growth rates across retailing in recent years, largely due to rapid expansion, solid sales gains and increasing consumer interest,” dollar stores, both independently owned and chain operations, have seen significant expansion. The white paper, “Dollar Days: How Dollar Stores are Growing in a Weak Economy,” explains such rapid growth to be a result of consumer confidence in value and bargain buys.

It is true that some of the leading players in this retailing sector are dollar store chains, such as Dollar General, Dollar Tree, Family Dollar and 99 Cents Only, which are driving store traffic and upping transaction size by adding more high-turn consumables and improving in-store presentation. But it is the fact that dollar stores now serve a larger consumer base that allows many independent discount/dollar stores to thrive and pop up across the nation. In fact, a study by Retail Forward estimated that enough untapped and under-penetrated geographic markets exist in the U.S. to support another 15,000 dollar store retail outlets.

Targeted Therapy Relief You Can Take Home

FaceCaddy is available in Midnite Black or Hot Pink, and is made of strong, but soft elastic fabric, which provides compression. Inside, built-in pockets hold the two reusable ice/heat packs where they are needed. Velcro tabs make Face Caddy easy to put on and take off. “With FaceCaddy, you just slip the reusable hot/cold packs (included) into the pockets, wrap the FaceCaddy around your head and secure the Velcro tabs. You’re not held hostage trying to hold the packs in place, and you can work, cook, read or rest comfortably,” explains Lucas. While an inspired product for plastic surgeons, the FaceCaddy has illustrated its ability to help TMJ, migraine and sinus pain sufferers, as well as assist in reducing hot flashes and night sweats.

The success of the FaceCaddy led Lucas to start a wholesale program. “This past year I decided to get into stores and expand my product line,” says Lucas. “I’m a small businessman myself, so it is my preference to work with independent retailers who think my products would be a good fit for their stores.” The newest additions to the CaddyWrap Product line include the EyeCaddy, ChinCaddy and BackCaddy, all Made in America, and providing the same hands-free relief. Expected to be popular in independent stores, the FaceCaddy and EyeCaddy will be available in a 10 unit package, with each unit wholesaling for under $10. “It’s true I offer these products online for a retail price of $24.99, with the lowest shipping at $7.99, but retailers selling in-store can expect to make keystone and still beat my online price,” says Lucas.

While the product’s in-store marketing is in its initial phases, Lucas mentions that each CaddyWrap product comes in a clear vinyl zipper bag that can either rest on a shelf with its flat bottom, or be hung on a rack or peg-board. Showcasing at the January New York International Gift Fair, CaddyWrap Products will be receiving orders at Booth 35046, and shipping these orders for free. “For anyone reading this article who references this magazine, I will also ship their order for free,” says Lucas.

For more information:
Caddy Products
PO Box 25231
Winston-Salem, NC 27114
Toll Free: 877-864-9488
Email: info@caddywraps.com
Website: www.caddywraps.com

Procedural Review Audits Can Uncover Hidden Loss

So how can retailers uncover these losses, which are largely invisible? First off, procedural review audits (PRAs) help loss prevention professionals assess the areas of greatest risk and loss, enabling them to prioritize where limited resources should be directed. Audits are commonly used in retail to evaluate compliance with regulations and ensure best practices are implemented. A procedural review audit is similar, but when applied to loss prevention, can be structured specifically to identify areas of risk and point toward root causes. This enables management to effectively measure consistency, while pinpointing operational and loss prevention challenges. With a focused effort on a few common areas in which hidden loss may result, prevention may prevail.

The Checkout Line

A poorly managed checkout line can be hazardous to your store’s health. A long, slow line quickly yields unhappy customers who may drop their merchandise and leave. Time is precious and customers may decide they don’t need the merchandise that badly, or are simply unwilling to waste more time in line. Checkout lines can be especially irritating to customers if they spot seemingly idle employees in the store. Retailers should know how to avoid checkout bottlenecks, enlisting store managers, idle employees, or anyone who is available to assist at the point of sale. Even if employees are restricted from operating registers, they can still move things along by bagging merchandise or removing EAS tags. Unannounced PRAs help retailers determine if staff is doing everything they can to assist customers when the need is greatest. PRAs can focus on assessing training to ensure all employees know how to conduct critical tasks, such as exchanges or price overrides at the checkout line. They can also help assess if the culture is focused around putting the customer first.

The Aisles

A hollow “Can I help you?” or no greeting at all means little to a customer. How often do customers give clear, unmistakable signals that they are looking for something they can’t find, but associates are too busy performing administrative tasks behind a counter? Providing true customer service requires employees to go the extra mile. It may mean calling another store to see if they have the merchandise in the size needed, checking inventory in the back room, or escorting the customer to another part of the store. Is it convenient for the employee? No. Is it critical to avoiding lost sales? Yes. Unannounced PRAs or PRAs conducted by mystery shoppers can screen to see if customer service processes are being implemented throughout the retail environment.

The Shelf

One of the most significant causes of lost sales is simply merchandise missing from store shelves. This is particularly common with quick-turn merchandise, consumables and clothing. If customers can’t find what they are looking for, they will usually assume the retailer has run out and will go to another store to find it. All the while, the desired goods are likely sitting in inventory, causing a lost sale. PRAs are ideal for monitoring operational processes and ensuring that stores are consistently implementing best practices to regularly check and stock shelves. PRAs can further help retailers identify the areas that are at greatest risk for out-of-stocks, and ensure they receive special attention.

These simple steps can make a huge difference in making sure customers get what they came for and actually complete their transactions. By minimizing lost sales due to poor processes and customer service, retailers can better mitigate the risks of unseen and undetected losses.

Andrew Wren serves as CEO of Wren Solutions, a loss-prevention technology provider helping LP professionals reduce loss, increase profits and rise as heroes in their companies.

High Quality, Low Cost Dog Jackets

The products themselves are 100 percent cotton, soft to the touch and fully breathable. With three dog bed sizes and jackets available for dogs 10 to 28 inches in length, most breeds can enjoy a taste of the future. “The jackets are better than any other on the market,” notes Singh. “The double Velcro keeps the jacket on, but allows for easy on and off.” The jackets also feature a leash hole that makes the collar accessible, fleece lining, and a high fashion corduroy trim. Available for under $10 wholesale, retailers such as boutiques and pet shops can expect to make almost triple on the smaller jackets and at least keystone on the larger sizes.

With a history in textile manufacturing and quality control, APP prides itself on developing new products with the best quality and competitive prices. Offering 300 skus, APP continues to sell its top selling all natural, biodegradable jute cotton toys, as well as stainless steel and non-skid feeding bowls. “Other products on the market frequently have low quality electroplating. If the surface is scratched, the nickel layer may peel off. We are proud to present high quality electroplated (High Chrome) products, to assure adhesion of the nickel layer. We care about you and we care about your pets!,” says Bikram. And for this reason, APP continues to look into new technologies during product manufacturing.

For more information:
Advance Pet Products
140 Advance Blvd. Unit 9
Brampton, Ontario L6T 4Z8
Tel.: 905-840-6486
Fax: 866-662-5393
Email: sales@advancepetproduct.com
Website: www.advancepetproduct.com

An Eyewear Solution for Security, Fashion and Functionality

Hopper details the durability and strength of the product, explaining, “It’s a lightweight product, but it’s super powerful, working on sweatshirts, fleece, denim, and just about every type of clothing except for a thick motorcycle leather jacket.” In fact, it is the product’s robust design that has led Hopper to rebrand. “ReadeRest served a purpose and was a cool sounding name in the market, but SpecSecure has a better impact, is easier to remember, and speaks to the product more truthfully. Glasses don’t just rest on my invention, but are secured,” notes Hopper. Customers no longer stick their glasses in their shirt and worry about bending over to pick something up, causing the glasses to fall out and get scratched on the ground. “No more scratched lenses! No more missing glasses!,” he adds.

The ReadeRest illustrates flexibility in its usage, as Hopper has known some customers to hang their Bluetooth earpiece, golfing tees, as well as fishing hooks and lures on the product, in order to keep them secure and at their side. The latest trends in use, however, are as a name badge holder among the hospitality and medical industries, as well as a secure holder for crafter’s scissors and ballpoint pens.

ReadeRest’s simple design and extensive uses has created a stir that allows it to be successfully marketed to hospital gift stores, salons, wineries, hardware stores and more. The product has also gained quite a bit of international attention. Hopper explains, however, “The ReadeRest is made available to many countries strictly through a web presence. It is in the U.S. that we are focusing growth and partnerships with retailers.” Although the website lists retail prices, ReadeRest is also available at wholesale prices. While previously advertised at three different order levels of $250, $1,000 and $5,000, retailers can now supply the ReadeRest in their store for one low-risk investment of $160. For this cost-efficient purchase, retailers will receive Hopper’s “starter kit,” which includes a free counter top display and free shipping.

Independent retailers are invited to visit the ReadeRest website to take a look at the growing fashion designs. Designs range from stainless steel to those adorned with Swarovsky crystals in a variety of colors. Hopper also mentions that he is currently looking into expanding the line by adding a heart and ribbon shaped ReadeRest, in support of Heart Disease Awareness, Breast Cancer Awareness and to Support the Troops. “Hopefully once these new designs are underway, we can do our part by contributing a percentage of the profits to the associated organizations,” he notes. Hopper encourages feedback from users and buyers. “We like when people contact us with improvements, ideas for different products, or simply with a thank you. It makes it all worthwhile,” he says.

For more information:
ReadeRest
1800 Sandalwood Ave.
Fullerton, CA 92835
Tel.: 866-776-7787
Fax: 562-690-8600
Website: www.readerest.com

Federal Fairness for Retail

Bruce Josten, executive VP for Government Affairs at the U.S. Chamber, agrees that the passage of these bills are to be applauded, saying, “The principles in this legislation make the regulatory process more transparent, agencies more accountable, and regulations more cost-effective.” The Regulatory Accountability Act requires all federal agencies to examine more thoroughly proposed rules before they are adopted, limiting regulatory burdens placed upon the U.S. economy and individual Americans. The Regulatory Flexibility Improvements Act is a major priority in the effort to create a more fair and transparent regulatory environment. Below are more specific ways these bills will help in the enhancement of the regulatory process:

1) Increase public participation in shaping the most costly regulations before they are proposed.

2) Require that agencies must choose the least costly option, unless they can demonstrate a need to protect public health, safety, or welfare.

3) Give interested parties the opportunity to hold agencies accountable for their compliance with the Information Quality Act.

4) Provide for on-the-record administrative hearings for the most costly regulations, to insure that agency data is well tested and reviewed.

5) Provide for a more rigorous test of legal challenges for those regulations that would have the most impact.

Check out our Industry Headlines to read more on legislation and industry updates.

Natural Material Sells Well as Tourist Market Merchandise

One of those companies in the tourist business that has found success with Western Woods’ products is Utah retailer, Ruby’s Inn General Store. Ruby’s Inn is the closest lodging to Bryce Canyon National Park, a highly visited area known for its opportunity for outdoor exploration. The General Store is one of the largest of it’s kind in the Bryce Canyon area, boasting an impressive selection of authentic Southwestern Native American arts and crafts, including jewelry, pottery and weavings. The General Store also sells many other items such as groceries, camping gear, clothing, shoes and more, but one of its well known highlights is the Rock Shop, featuring rocks, fossils, minerals and petrified wood.

While open all year, Ruby’s Inn General Store does experience an off season, but not before seeing high product turnover during the warm summer months. According to Tonya Syrette, co-owner and office manager of the General Store, Western Woods products are among some of the hottest selling items during the peak season. Two product lines it has continued to do well with over the years is Western Woods’ Earth Discovery and Design Jewelry lines. “Earth Discovery is a popular category. The rough rocks are a favorite with those who want to start up their own collection,” explains Aitken. “The information cards that go with the rocks are a great educational item.”

Jewelry is another favorite, Syrette points out. Wholesaling between $0.25 to $50, the expansive line of gem and mineral inspired jewelry turns a good profit at around three times the markup, and promises something for everyone. “With the economic situation we have experienced over the past few years, we are noticing that retailers are purchasing more small ticket items that produce higher percentage markups, and higher turns on those products,” notes Aitken. “I believe that will continue in 2012.” However, no matter the economic times, Syrette foresees Western Woods as a long-term partner, already celebrating a long-standing history with the distributor.

Copper World of Calumet, MI, while a newer retail buyer of Western Woods’ products, has nothing but good things to say about the wholesaler after 10 years of business together. And after nearly 40 years in retail, owner, Tony Bausano, knows a thing or two about customer service. “I’ve worked with other vendors supplying similar product before Western Woods, but none offered what they do,” he says. “Western Woods offers things like extended dating on larger orders, freight allowances, displays and more.” With an opening minimum order of $100 and no minimum on reorders, retailers aren’t committed to purchasing too much in order to get Western Woods’ products in their store. It is programs like the company’s free freight program on the popular tumbled stones that has customers like Copper World raving. “A 50 pound order of the tumbled stones will receive free freight. This is available to customers in the lower 48 states,” adds Aitken.

Such a program is perfect for Copper World, as the Tumbled Stones line offered by Western Woods is one of its best sellers. “These unique stones are enjoyed by kids of all ages, as they pick out the shiny stones and fill felt bags to make a personalized collection,” says Bausano. “I like to call the Tumbled Stones a pacifier for children; something much appreciated by their mothers as they shop throughout the store.” And what are some of the items these mothers are looking for? It comes as no surprise that Western Woods supplies a top of the line home decor and houseware line, made of onyx, as well as amethyst geodes that many consumers like to decorate their homes or offices with, because of their natural beauty.

While a little more pricey, amethyst geodes carrying a suggested retail tag of $1,000 still attract consumers who are willing to spend money for natural and unique items. “Most of our items wholesale for $5 or less, but retailers can generally markup these products for two and a half to four times the wholesale value,” says Aitken. And for Copper World’s Bausano, this is good news because he is selling year round. While there is a definite surge in business during the summer, he and his staff see some strong sales during October through the holidays, as well as through its online store. “I call our web sales our thirteenth selling month,” notes Bausano.

Originally a Great Northern Mineral supply shop run by his father, Bausano has transformed Copper World into a gift shop with one of the largest selections of memorabilia and souvenirs in Keweenaw County. Copper World features many local artists, as well as other regional, national, and international artists and companies. The store has been built around copper mining history. It features many copper gifts, along with the largest selection of books and DVDs about the region’s history. “We also carry minerals and memorabilia from the Copper Mining era,” says Bausano. The building adjacent is also part of Copper World, and carries clothing from infant to adult 3XL, hats, mittens, scarves, purses, and much more.

Among the store’s displays is a large wooden octagon tube display for the tumbled stones, which includes a large number of different stones. There are between 40 to 60 different stone types in every 25 pound bag. “We mix our stones by hand, to offer the most consistent and highest variety of mix in the industry today,” says Aitken. For the other Western Woods’ products on display, Copper World showcases three open cube fixtures, featuring lights to bring out the natural sparkle of the amethyst geodes and other pieces on display. Bausano believes these displays really make the difference when selling the merchandise. “We have starter kits for every product line that we offer. We also offer point of purchase displays or fixtures for all of our products,” explains Aitken. “We have an in-house cabinet shop that produces the highest quality displays, and this has been a big success for our products by producing proven displays that sell the merchandise. We also often do custom displays for our customers.”

Western Woods boasts on its website, “Rock’n your world for 27 years,” and retailers like Ruby’s Inn General Store and Copper World are quick to back it up. Inspired by the great outdoors, the wholesaler has found success in bringing natural beauty indoors, as consumers look to add to their décor or growing collections. Retailers looking to offer Western Woods’ products can browse both its online store and download the company’s catalog at www.WesternWoods.biz.

For more information:
Western Woods Inc.
740 N. Red Rock Rd.
St. George, UT 84770
Tel.: 888-284-2041
Email: sales@westernwoods.biz
Website: www.westernwoods.biz

Ruby’s Inn General Store
26 South Main
Bryce Canyon City, UT 84764
Tel.: 435-834-5484
Toll Free: 866-866-6616
Website: www.rubysinn.com

Copper World
101 Fifth Street
Calumet, MI 49913
Tel.: 906-337-4016
Fax: 906-337-5675
Email: Use online form
Website: www.calumetcopper.com

1) Wall Decals and Graphics. Wall decals can transform a space from boring to impressive. Consider the merchandising possibilities for placing goods on a giant image; sell more sleeping bags with a beautiful outdoor scene, more guitars with a picture of a raging arena crowd, or more basketball shoes with intense dunking imagery.

2) Floor Decals and Graphics. Floor graphics can serve two important purposes: promoting a message or providing helpful directions. Place messaging for a sale or special event underfoot, and it will be hard to ignore once it catches a customer’s peripheral vision. Color-coded lines or section numbers on the ground provide direction and free up wall space for other messages. Floor graphics are safe, durable and removable.

3) Window Decals and Graphics. Window decals allow you to use more of the customer-facing real estate available in many places. Consider vinyl decals for seasonal messaging instead of messy paint jobs.

4) Digital Signage. Digital signage is the ultimate long-term signage investment. There is an up-front cost for the display unit and software to manage the content, but over time it saves money and time in printing and re-printing materials. Digital signage is dynamic and easy to change, making it ideal for places that frequently change messages. There are many options available, from single units that run on flash drives to thousands of screens with content managed through a central location.

5) Go Green with Solar Powered Signs. Solar powered signs help save money and the earth. Installing solar power cells and a battery on an exterior sign allows it to use natural resources rather than electricity. Advances in technology have made these units smaller and less noticeable. A solar power unit can keep your sign illuminated 24 hours a day, or it can be programmed to turn on and off with business hours.

Drue Townsend is the Senior VP of Marketing for FASTSIGNS® International, Inc, a visual communications services provider with more than 530 locations around the world.

1) How did the past year’s sales compare with sales in the past three to five years? If your business has a history, use the archived statistics to your advantage. Look for trends within your sales performance. Hoagland-Smith emphasizes, “You can predict, based on the analysis, what will happen in the future.”

2) How did the past year’s profits compare with profits in the last three to five years? When measuring profitability, add up revenues and then subtract expenditures. Every little bit counts, and if you are saving/earning a little more each day, week, month or year, you are making a profit. Profitability is the key to sustainability.

3) Did your business meet its goals? While most retailers share a similar goal in making a profit and increasing customer traffic, each store owner may have a list of goals they were hoping to meet and exceed for the year. These goals could be in sales, marketing, management, or finances. Meeting goals shows determination, innovation, and makes next year’s goals that much easier to attain. If you haven’t made goals in years past, consider this an opportunity to start your success off on the right track.

4) Are repeat sales up, down or flat? Remember, the target is not only new customers, but loyal customers who continue to add to your bottom line and provide free marketing through recommendations. Hoagland-Smith mentions, “Encouraging repeat business increases profitability, because you don’t have to spend to bring in new customers.”

5) Is overall equity up, down or constant? While your business may seem like your life, as you continually pour your blood, sweat and tears into it, the real value can’t be determined by sentiment. Looking over balance statements and considering items such as the property’s worth, sales figures and the current customer base may help give a more accurate perspective. However, as time is critical in the retail industry and you have products to purchase, inventory to check and your first sale to plan, there are three simple considerations to help you better understand the business numbers, and grow profits in the upcoming year.

First, think of expenditures as assets, and not always as a negative. It can be beneficial to cut out expenses, but not if that expense helps improve your efficiency, build future revenue, or is enhancing your business as a whole. Second, create a smart budget that tells you how much you can afford. If you don’t spend all the budgeted money, you haven’t necessarily done something wrong. Any penny saved may help out with those unexpected seasonal expenses (i.e., energy in the winter or tax season accounting). Lastly, recognize the strategies that work, but more importantly, abandon those that don’t. As Intuit Blogger, Peter Vessenes, writes, “Especially for newer businesses, some strategies will inevitably go awry. A failed strategy does not have to mean a failed business, as long as you know when to pivot or pull out.”