Working in Retail Sucks

images (35)Anyone who is working in retail knows what a pain it can be, and how little compensation you receive for all the trouble and abuse you have to take. For starters, you usually only make minimum wage, which has not been a cost of living salary for about the past 50 years. That means that not only do you have to put up with one retail job, you most likely have to hold down more than one at the same time.

That means you experience twice as much abuse at the hands of disrespectful and demanding customers as well as incompetent managers and bosses who have no idea what they’re doing. Many of the managers in retail had absolutely no managerial experience before being put into that role, and it is often the case that they manage more from a place of ego that from a strategic or effective perspective. Even though their responsibilities are so insignificant, they have an inflated view of their position and their titles – and they feel like it is their big chance to lord it over


Basic Tips For Setting Up A Successful Retail Business

download (32)If you are in a retail business and looking for ways to capture the market, there are a few principles that you need to put in place to endear yourself to the clients. You can ask for the help of professional marketing service providers, in devising the best strategies for your business.

Understand your clients and the needs for which they seek your products. Determine how your products serve the need that your clients have. Focus on a particular area that you have the competence to serve effectively.

The foundation of effective retail business is built on the four Ps that include price, place, product, and promotion. As for the product, create a product range that not only satisfies the clients but also delivers a profit.

Determine the best price in the marketing mix that meets the needs of your business and does not make the customers feel as if you are ripping them off. There is no low or high price as the pricing depends on the value that the customers place on your products.

The visibility of your products is important if the


Are You The Right Wholesaler For Your Customers?

download (31)First of all, you have to make sure that you look at genuine wholesalers. There are also three main types of legitimate wholesalers:

• Some deal with goods that are damaged, used or are wholesale surplus.

• Others deal with normal forms of merchandise.

• Still others deal with goods that are fake or counterfeit.

Which wholesaler you choose depends on your preferences and how much profit you would like to make in the long run.

Dealing With Wholesalers

When you know what kind of goods you want to deal with you can negotiate prices. There are a number of tips you can follow in order to make the most money out of your deals:

• Take time to research all wholesalers. The Internet is a great source of good suppliers but at the same time, it is also bad. Check out reviews and forums. eBay suppliers tend to have ratings which can be useful guides.

• Generally, you will not pay less than 30% to 35% of the retail price if your merchandise is new. The only way you’ll get around this is if you purchase bulk


How To Grow Your Retail Business In A Highly Competitive Market

download (28)Surviving as a retail store owner is not without its challenges. Companies in this industry have to go beyond merely offering quality products at reasonable prices. They also need to have strategies in place that allow them to consistently stand out from their competition. This is one of the most competitive fields out there. Fortunately, there are several things that you can do to build a robust customer base and keep your clients engaged.

Use online marketing tools to share valuable information. Help your clients and prospective clients navigate the purchasing process by giving them the information they need to make knowledgeable buying decisions. Transparency in product pricing is also a great way to explain why you charge a bit more than your closest competitors. Consumers respect efforts on the part of businesses to place quality before economy.

Capitalize on the general tendency to make impulse purchasing decisions. Learn more about your regular customers and their buying habits. Find out which offers and virtual or physical displays make people want to act right away and then use these as often as you possibly


Making the Most of Your Retail Space

download (30)There are some differences in merchandising theory between the neighbourhood grocery store and the sporting goods store down the street. The fact remains that both are merchandised in the same way. Both use an organized and attractive layout to maximize each item’s sales potential. These merchandising principles used by major retailers are the same ideas you should follow. Why? Because they work.

It’s an old, often overused retail adage, but it’s true: “You can’t sell it if it’s in the stockroom.” Almost all people enjoy shopping for products in which they have an interest. Why not display products in an attractive way? Then customers can inspect, explore and, yes, even buy.

Floor and wall gondolas are the best merchandising fixtures to use in a retail outlet. A gondola is a freestanding fixture used by retailers to display merchandise. Gondolas typically consist of a flat base and a vertical component featuring notches, pegboards, or slatwalls. The vertical piece can be fitted with shelves, hooks, or other displays.

Your budget may not extend to purchasing new floor gondolas. There are used fixture outlets where many of


Pros and Cons of Buying Wholesale

download (29)Wholesalers are responsible for purchasing goods direct from manufactures in large volume and selling to distributors, retailers, and others in smaller volumes. Buying in bulk is the most cost-effective method to fill the store shelves with the preferred merchandise. Here are several pros and cons of buying wholesale products:


Low-cost: The ability to buy from local or foreign wholesalers means it is possible for traders to pay a lot less than would otherwise be expected if buying individual items. To get the best prices it is necessary to buy in bulk. The wholesalers are rarely willing to sell a small number or single items to members of the trader or consumers.

Easy to use: Retailers prefer the simplicity of buying wholesale because it is possible to shop for a wide range of products at a single destination. Wholesalers have the ability to stock products from multiple manufacturers which makes it easier to choose the right goods to match the specific needs. Plus, shopping from one location makes it possible to save a lot of time by not having to keep traveling to different


Create A Business That People Never Desire To Leave

images (27)The first answer in building a successful store remains what makes your products superior to those of the other companies who sell the same items or services. Chances are, the answer is nothing. However, implementing ideas to gain customers changes their world forever, and they will never leave if they prefer your store over all the rest. With that in mind, let’s address a few ideas that create your brand from strategy to storefront.

Give, give, give! Special deals signify typical efforts of giving customers a reason to visit, though all businesses do the same thing, it comes across as nothing innovative. Design store-wide events related to the items of interest the people in your community. A newsworthy event gets attention when linked to customer desires, and motivates them to investigate the situation to satisfy their curiosity.

If properly planned, minor events also bring in traffic. If your products are marine related, hold an event where one of the instructors demonstrates step-by-step how to use and wear scuba gear correctly. Run a parallel promotion with it of several free lessons with the purchase


How To Build A Strong And Infallible Brand In The Retail Industry

images (26)Aspiring entrepreneurs have discovered that there is no better way to make money than by catering directly to the needs of consumers. People love to shop and they constantly have needs that must be met. If you plan on opening up a business that offers services and products for fees, however, there are several things that you need to do to ensure the success of your brand.

Set yourself apart from your competitors by offering products that are truly unique. This is vital for ensuring that you maintain you competitive edge. Many company owners align themselves with the cheapest suppliers when starting out, only to find that there are countless other people offering the exact same goods and often at even lower prices. Take stock of the items that are selling in other local stores before defining and building your inventory.

Connect with your consumers online so that your goods are the first items they think of when shopping to meet needs. Using the web to interact with consumers will build a personable, recognizable brand and keep you fresh in the minds of


Ethical Sourcing – A Must-Have For Retailers

download (25)The millennial customers, besides being dominant in purchasing goods, also care about the company’s social values — its social responsibility, sustainability and ethics.

Previously, consumers would be satisfied with only the end-products. But not anymore. Today, they want to make sure that the products are ethically sourced. They even go as far as looking at the conditions of workers in the factories. The consumers today are gauging retailers on many parameters, like sympathetic labour practices, community involvement, ethical dealings with vendors, humane treatment of animals among others.

Henceforth, if a business wants to win the hearts of customers, then they have to get rid of the ‘corporate hypocrisy’, that corresponds to discrepancies in words and deeds. Customers are always on the look-out for such “inside information”, as getting any kind of information these days is just a ‘Google Search’ away.

Proliferation of social media is a powerful tool that easily identifies the company from their words and deeds. This kind of customer inquisitiveness is the latest thing, as study on consumer habits suggest that consumers are demanding that the companies should value the interests


Convenience Store Digital Coupons

images (25)Why has the affiliate couponing industry abandoned the convenience store industry? If you dig deeper into any affiliate coupon program (retailmenot.com, coupon.com) you will find that there are not many if any coupons available for convenience stores. It seems like there is a disconnect between the coupon affiliates and the convenience store industry. If you consider how much money is at stake it does not make any sense. $1 out of every $24 dollars is spent in this country in a convenience store. So why has the coupon affiliates abandoned this channel?

I think one of the problems is the sheer number of convenience stores. There are 154,195 convenience stores in the U.S. as of December, 2015 (NACS/Nielsen) and the site counts keep growing every year. Another possible problem could be the fragmentation of the industry. There are many regional players and only a handful of national players. Another problem is probably the speed of the transaction. We have all been in line at the grocery store and had that lady in front of us pulling a bunch of coupons out of


Is Shrinkage Eating Up Your Profits? Combat Your Retail Enemy With These Handy Anti-Shrinkage Tips

download (26)Running a successful retail business isn’t just about driving tons of traffic, generating hefty sales and standing out in the crowd. But it’s also about determining potential or ongoing loss-generating events and laying out a well-planned strategy to prevent loss and reduce factors turning profits away.

That being said, shrinkage remains one of the biggest concerns for retailers, costing them a lot of money every year as a result of fraud, shoplifting and employee theft. It’s not only necessary for retailers to be vigilant about factors driving revenue losses, but you may need to nip the lingering issue in the bud to ensure that your business runs smoothly and is more profitable.

Here are a few ways you can improve security around your store and prevent shrink before it starts.

Invest in an Inventory Management System

Keeping track of retail stock is paramount to loss prevention. And this can be achieved with a robust inventory system integrated into your business. An efficient inventory system will help keep track of merchandise by conducting frequent stock counts and spotting unusual inventory patterns and discrepancies.

And a POS Cash


How To Become A Smart Retailer

download (27)In today’s time, being a retailer is the most challenging profession because there are numerous local competitors or big malls around you, who are selling exactly the same goods which you have in your stock. With the increased competition, you have to be very careful, while marking the selling price of the goods you are offering to your customers and this ultimately leads to low business profit. This is the main reason, why many small retailers are finding it hard to grow or sustain their businesses. However, if you follow the below mentioned simple and effective tips, then you will become a smart retailer of your area or town and your business will grow at a rapid pace.

Purchase goods in bulk quantity

It is always advisable for small retailers to purchase selling goods in bulk; because if you buy items in bulk, then there are chances that the whole sellers will offer you extra retailer margin which is very helpful to meet your business loses. And, you can also purchase goods directly from the manufacturers of goods. Additionally, there are many online


New Hurdles To A Great Customer Shopping Experience

images (24)Retail professionals and customers struggle with complex emotional feelings more today than ever before. The sense of unrest that penetrates American lives, tech and Internet obsessions, and that ever-fleeting-hard-to-capture personal focus are, perhaps, the greatest offenders. What can retailers do to combat the fright, fatigue, and fragile focus that plague their customers?


Americans readily admit they want a safe, comfortable environment, but they don’t want to be hindered as they go about their daily activities. They do not want an armed guard in every boutique or store they enter, but they do want a general feeling of safety. If the surrounding neighborhood is beginning to deteriorate, shoppers may feel less safe and seek out other locations to shop. A report of heightened terrorist activity may keep shoppers at home or at least away from major shopping centers. While political unrest and terrorism are out of a business owner’s control, other aspects of safety are not.

Safe environment implies safety from catastrophic events like fire, for example. Of course, you can’t prevent every disaster, but you can give your store an advantage. It


Retailing and Mall Shopping Ain’t What It Used To Be

download (24)The US retail sector may be post peak, and with the changing demographics and online sales competition, the once popular shopping mall and Department Store may become much like the once dominant species of our pale blue dot. Like the dinosaurs, the department store model looks like it will soon be ancient history. Let’s talk, as there is more evidence than not to back up this prediction.

The Kansas City Business Journal had a piece titled: “Study: Department stores must prune mall space to bloom again,” published on April 25, 2016 which stated: “A real estate research firm says department stores must close hundreds of sites – about 20 percent of all anchor space – in U.S. malls to regain their productivity of a decade ago, The Wall Street Journal reports. For example, Sears Holdings Corp. should shutter 300 stores, or 43 percent of its total, to achieve the sales per square foot it had in 2006, according to the study by Green Street Advisors. This is so even though Sears and other retailers have closed hundreds of stores in recent years


Important Things You Must Know About Retail Management Information Systems

images (23)Retail management will mean running a store where merchandise is sold. Retail management information systems will include using software, hardware and procedures in order to manage activities such as inventory control, planning, logistics, point of sale transactions, and financial management. You can use this system in your business to manage your finances, store, and inventory from one office.

If you allow information to be exchanged instantly, store managers can efficiently control profits for the entire company. It must support product management and must enable an in-depth analysis of customer data. This is a very flexible system allowing managers to set prices for different time periods based on the location of the store. This will also allow them to meet the needs of inventory and sales managers. Most importantly, it involves the use of a mobile user interface.

How It Functions?

It supports the basic functions of procurement, storage and delivery. With this system, managers can efficiently deal with customers, suppliers, inventory, and product sales. It will allow you to successfully track purchase orders as well as update inventory record with dynamism. Furthermore, it will


5 Mistakes to Avoid When Choosing a POS System

download (23)One of the most significant things a business owner must have to effectively run his business is a way to keep track of the inventory. The best way to achieve this task is to have a powerful point of sale system in place. These systems not just monitor sales, inventory, and cash flow, but manage the business as a whole. A high performance POS system helps you to improve business operations by streamlining inventory, keeping track of the most popular items, and managing reports of daily sales.

To choose the best retail management software for your business, you need to avoid these mistakes.

Not doing enough research

Most business owners who end up disappointed with their point-of-sale software are those who don’t do enough research before purchasing one. A simple Google search will give you plenty of options to choose from. You can request demos and free consultations from the ones which you have shortlisted. Based on the demos, you select a system that best suits your business needs.

Not checking references

Most of the vendors will provide you their best references, but by requesting them


Intelligent Information Storing And Retrieval System

images (21)Business challenges are unique and needs to be solved within a context. The different operational elements combine together to generate the output for the organization. Your biggest asset is the knowledge you gain during business activities. You need to access this information when required. What would happen if you are not able to relate any specific business information with a particular situation? The loss cannot be measured in its entirety however the business will lose some sort of leverage.

Managing the information on paper is a thing of the past. The fast paced business environment requisite speedy solutions. As the business has now access to primary as well as secondary data and that too in abundance, it becomes necessary to manage the flow of this data. It should be understood that the different types of data generated in business activities have varying levels of significance. The accumulated information is not for everyone to access or use it. It is meaningful to employ relevant parameters to justify why different types of accumulated information need to be categorized in accordance with its relevance foe


Revolutionize Your Business With Digital Printing!

images (22)As everything is becoming greatly reliant on new technological processes so is printing. A range of different mediums are being utilized and different formats are solving the printing issues of the businesses. As the backdrop has changed considerably businesses are shoeing more enthusiasm with printing processes that deliver high quality image and low turnaround time. For instance the on demand solutions are the foremost requirement for businesses. This variability is only attainable when a high quality printing procedure can be utilized to generate print in huge volume. Furthermore another important aspect is the cost associated with the procedure in order to measure the overall attractiveness of the solution. However this should not discourage you in looking for solutions that are superior in quality.

The business needs to communicate with the stakeholders using various tools. Now you can print flyers, business cards, brochures and other material in huge volumes at an affordable price. If your requirement is to generate the print in a considerable less time then digital print is the answer. The speed of this process is quite incredible and its capacity


Designing the Interior of a Retail Store

download (22)Retail has long been powerful and one thing we know is that there are a lot of different approaches to designing the interior layout of a store. However, there are some common design strategies that all retailers can use, which lead to generating more sales for a business. The interior design of your retail store is an issue we have been seeing recently, in an effort to help traders become more successful boutiques and thrive in today’s digital age. Since tell the story of a brand and create immersive experiences to utilities for the development of showcases and announcements signaling when it comes to retail the important thing is in the details. We want you to have the basic knowledge.

It is a known fact that in America, 90% of consumers when entering a shop turn right unconsciously. The first wall you see is often referred to as a “wall power” and acts as a first vehicle high impact provides a potential to the good in this space, so make sure you give extra special attention in terms of what you choose


Gift Card Programs for Coffee Shops

images (20)Gift cards can be one of the most profitable items a Coffee Shop or Café can offer. Here are some of the various questions that any Coffee Shop or Café owner should ask when implementing a system to their store.

Where fees are there? Hopefully, there are no swipe fees or monthly fees. When fess are added to a gift or prepaid card, the program becomes as costly as a credit card to the retailer. If there are fees, what are they? Are they charged per load, per purchase? Is there a charge on the inquiry? Paying $.10 to $.25 a swipe for someone to check a balance can hurt the retailer’s bottom line.

Where do I get cards? Based on national averages of the Coffee industry, the average coffee shop goes through 1,000 cards a year. It’s important to make sure that the retailer can purchase cards from their provider at a rate that is in line with the rest of the industry. Some providers force the retailer to purchase cards at two or three times the regular rate. Retailers want