Profit preservation is the aim of every retailer. Yet shoplifting and employee theft accounts for an estimated $60 billion a year according to Forbes. The good news is that inventory shrinkage–having less merchandise than what your records indicate you should have–is a preventable loss. The overwhelming majority of thefts are opportunistic. What this means for Read More …
If you are thinking about selling jewelry, think of yourself as a curator. A curator is not limited to someone who selects and organizes museum artifacts but also includes anyone with those responsibilities for arranging retail merchandise. Think about it: An eye-catching jewelry display is thoughtfully organized. With a splash of creativity, you can feature Read More …
Banks have traditionally done it. Restaurants invariably do it. Grocery stores are starting to do more of it. Even high-brow retailers are doing it. Whether it’s lollipops at the bank teller’s window or the after-dinner mint bowl at the local restaurant, many retailers have long offered their customers a small treat. What’s different now is Read More …
A well-designed retail space not only engages shoppers, but also can enhance sales. Critical to this success is the placement of checkout counters. Checkout is the last step in your customers’ shopping experience. This has led many retailers to devote considerable time and effort to strategically positioning their registers. Williams-Sonoma, for example, places their counters Read More …
Shopping with kids in tow can be a challenge—even for the most easygoing parent. Fussy kids can often lead a mom or dad to beat a swift retreat to the nearest exit. When that happens, parents lose productivity and retailers lose sales. Smart retailers, however, have caught on that integrating kid-friendly features into their space Read More …
Vaping is an industry that is on fire. Currently, there are between 6,000 and 7,000 vape shops in the U.S.—not counting smoke shops, convenience stores and other hybrid outlets that also sell vape products. This number is not expected to shrink anytime soon. Distilling the Numbers As the number of tobacco smokers continues to decline, Read More …
In 2006, Sherry Redwine opened Odyssey Pets, a pet supply company that offers pet supplies as well as grooming, boarding and daycare in Dallas, TX. When she first decided to open Odyssey Pets she wanted to fill the gap between big box stores and the dying breed of mom and pop pet stores. Sherry has Read More …
Z Rack Clothing Racks are used for a wide variety of retail and non-retail applications. Z Rack Clothing Racks are easy to assemble and are easy to ship they are used for a wide range of retail and non-retail purposes. These racks are sometimes called Salesman Clothing Racks, because in past clothing designer and salesmen Read More …
Enhancing certainty and expanding profit margins are twin goals for small retailers. Fueling revenues and mitigating uncertainty requires merchants to juggle many balls at once. Inventory tracking, customer relationship management, accounting and website maintenance are just a few examples. Keeping up with important technology trends for your small retail business and choosing the right tools, Read More …
It may sound counterintuitive, but empirical evidence shows that companies known for their exceptional retail customer service have gotten there by putting employees first. Apple, Nordstrom, and L.L. Bean are just a few examples of retail businesses that have built strong brands by focusing on one of their most potent assets: their people. For the Read More …