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 […]
merchandising
Streamlining Private Label Product Development
Private label products are becoming more popular among consumers, especially Millennials and Gen Z. According to a study from the Private Label Manufacturers Association, the volume of private labels being sold at mass retailers, club stores and dollar stores rose 33.2 percent over the past five years, while national brands rose less than 1 percent. […]
How Your Store’s Layout and Presentation Can Help Sales
by Lizzie Weakley The front end of your store is responsible for most of your customer experience. A great layout and thoughtful presentation will result in increased sales across the board. Impressions Are Everything A store sells an experience as much as it sells a product. In a world where customers can order most items […]
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 […]
How to Sell on Handmade at Amazon
Ecommerce giant Amazon has a special section for Handmade items on their website. Featuring Artisans from over 80 countries around the world, this newer section is intended to give small businesses a chance to reach more customers and will offer a wide variety of home decor, jewelry, accessories, gifts, and more. The question is, should […]
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 […]
6 Tips for Sizzling Summer Sales
With Memorial Day Weekend just behind us, the summer season is officially in full swing. The summer season is an exciting time for retailers and shoppers alike as temperatures rise, vacations are planned, and impulse buys soar as more people are spending time outdoors. Tap into this excitement with creative marketing campaigns and a refreshed […]
Warm Weather’s Impact on Shopping
Aside from the economy, weather has the biggest impact on consumer behavior, according to the British Retail Consortium. Weather directly impacts shoppers’ moods, their purchasing decisions, where consumers buy, and even how much they spend. There are obvious examples of this, like higher ice cream sales on a warm summer day, or umbrella sales during […]
Sell More Souvenirs This Summer
The U.S. novelty, souvenir, and gift industry includes about 23,000 stores with combined annual revenue of close to $16 billion. According to First Research, “The profitability of individual companies depends on effective merchandising and the ability to generate store traffic. Large companies have advantages in purchasing, distribution, and marketing. Small companies can compete effectively by […]
How to Create an Immersive In-Store Experience
70% of our economy is driven by consumer spending. Mark Mathews, NRF Vice President for Research Development and Industry Analysis, says “as long as you have a strong consumer, you have a strong position.” How do you create strong consumers for your store? By offering them a great experience. Jill Standish of Accenture said at […]
