by Jeff Smith In an increasingly competitive landscape, independent retailers face unique challenges. Where once their competition consisted almost solely of nearby physical stores in the same retail sector, today they face an unprecedented and fast-changing array of competitors, from online giants to specialty stores and global discounters. But there is good news as well. […]
management
How Distribution Can Aid in Indie Retailers’ Success
by Jerry Thomas Distribution is often an unrecognized and under-appreciated element of strategy, yet it is almost always an important factor in a winning strategy. Distribution refers to the channels, logistics and processes to move products and services from the point of manufacture, production, or creation to the ultimate end-users. When “distribution” is linked to […]
10 Things to Know Before Pricing Products
In order to price a product correctly, it’s important to consider some factors that will help determine its value properly. Here are ten things to know before pricing a product. 1. Cost of Production No company can sell a product for a price less than the cost of its production. First, calculate how much was […]
4 Ways to Appeal to a Variety of Customers
by Emma Sturgis As you know, the business of retail is a competitive one. No longer is it enough to rent a storefront, fill it with goods, put an ad in the press and wait for the traffic to roll in. In today’s retail market we need to be savvy when trying to appeal to […]
Yiftee and Thanx Partner to Increase Online Sales for Local Businesses
Thanx, a leading provider of customer engagement and retention tools for retailers and restaurants, recently announced a new partnership with Yiftee, the data-driven mobile promotions and gifting company serving multi-location restaurants, retailers, services and other partners. This new integration will allow Thanx merchants to generate new revenue and acquire new customers by offering and promoting […]
How To Build A Great Customer Relationship Management System in 5 Steps
by Sergey Lypchenko In the online retail field, keeping track your customers’ data is extremely important but often hard to perform. Luckily, we have software helpers. Today’s Customer Relationship Management (CRM) systems turn the registration, tracking, and usage of customer data into a fast and easy-to-handle process. Let’s take a closer look at the advantages […]
Refunds Don’t Have To Be the Pain Point of Retail
Returns have always been a touchy subject for retailers. You have to know your battlegrounds and find that sweet spot to not only keep customers happy, but also to keep your store up and running. Returnly, the post-purchase payments company for retailers and brands that care about customer loyalty, is changing the return experience for […]
The Short and Long of Retail Going Green
According to Business Insider, every year 32 billion garments are produced for the U.S. market. 64 percent of them end up in a landfill. While fast fashion is easy on shopper’s wallets, it is hard on the environment. Luckily for retailers, as more people are becoming aware of environmental issues and the impact shopping habits […]
New Study Shows Employee Experience Impacts Customer Experience
According to a new report by Sitel Group, the customer experience management company, nearly all of U.S. employees think that the employee experience affects customer experience. More particularly, employees who receive regular on-the-job training say they deliver better customer experience, customer service and overall care to clients. How you’re training your employees has more of […]
How BOPIS Can Boost Your Bottom Line
According to Retail TouchPoints, 90 percent of retailers plan to implement buy-online, pickup in-store (BOPIS) by 2021. And, for good reason: more than half of consumers nationwide have used BOPIS within the past year. 61 percent of shoppers that use this pickup tool end up buying more products when they visit the store to pick […]
