Retailers Brave Business Intelligence Analytics

Business Analytics

NRF expert panelists say, “Business intelligence can give you insight into your customers’ needs and actions, as well as their overall effect on your bottom line.”




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When Disaster Strikes: Nothing Else Matters

Emergency Planning

Loss prevention professionals conduct critical activities on a daily basis including emergency planning and preparedness.




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Seven Deadly “Retail” Sins

Retail Sins and Maladies

The Seven Deadly “Retail” Sins include Overbuying, Underbuying, Not Attending Markets, and No Markdown Strategy.




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Markups & Mardowns

Is Your Initial Markup Enough? One question I am repeatedly asked by retailers is how to increase maintained margin. Several answers readily come to mind, the most obvious being to avoid overbuying, and therefore reduce the margin eroding markdowns that accompany such a practice. Another way of increasing maintained markup is to find ways to […]



Review Your Hiring Process

Independent retailers hope to hire employees that are dedicated and customer friendly. Unfortunately, two out of three new hires will disappoint you, as 95 out of 100 of them exaggerate during the interview process. Tom Harnish, writer for American Express Open Forum, recently published his advice on four avoidable mistakes frequently made during the hiring […]



Improve Your Banking Relationship

Banking Relationships

The banking environment poses challenges for retailers looking for financial assistance. There are a few tips to help improve your banking relationship.




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Accounting and Inventory Software Crucial to C-Store Efficiency

Convenience Store Software

Accounting and inventory software can help C-stores achieve desired margins and reduce the time spent on unnecessary tasks.




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Unbiased Evaluations Are Crucial in Measuring Your Customer Service

Customer Service

A mystery shopper may help independent retailers better evaluate their customer service, without an a biased outcome.




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Is Your Initial Markup Enough?

Markup

Having the correct initial markup is the cornerstone to achieving desired and maintained markup. What are the determining factors for initial markup?




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Keep Loss Prevention in the Forefront

Loss Prevention

As the economy makes a comeback, will store owners shift their focus and forget about the necessity of loss prevention? LP personnel can prevent this mistake.




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