The days immediately following Christmas can be just as busy for some retailers as the holiday shopping period. Customers aren't perfect and Uncle Joe may not want yet another ugly tie. Unfortunately for retailers, the more we sell--the more returns we may receive.
Retail veterans may easily recognize return fraud. However, if your return policy is vague you may have no choice but to honor all (or most) returns. Even when you believe fraud is involved. Learn how to recognize return fraud and write a return policy to protect your business.
As a new year draws closer, we find ourselves taking stock of our personal lives. For many, 2012 comes with new hopes, new goals and new resolutions. It is a chance to do away with the old and start anew. But what about our businesses? What new hopes and new goals do we set for our retail store?
If you looking for areas of improvement within your retail shop, consider these 10 ways to better your business.
Related Resolutions on About:
- Financial Planning: Financial Resolutions for the New Year
- Investing for Beginners: 10 Financial Resolutions for the New Year
- Human Resources: Resolutions for Your Possible New Year
- Management: New Year's Resolutions vs. New Year's Goals
- Small Business: Canada: New Year's Resolutions for Work-Life Balance
More customer traffic, new product displays, extended store hours... yes, the holiday shopping season is in full swing. Many retailers are shifting their focus right now to capturing those sales. But what about staff?
Retailers can become so involved in the daily operations of running the business that sometimes we have blinders on when it comes to our employees. Internal tension, burnout or simply losing sight of why we do what we do, can cause many problems among staff.
What topics do you cover in your store's meetings?
It is important to plan policies and procedures for shoplifting early in the business planning. We hope it will never happen in our store but in the event it does, retailers and their staff should be prepared to handle the situation. When asked how their store handles shoplifters, Tosh Anderson, Security Supervisor, said:
"Handle suspects in a careful, respective matter. When you have to get them back into the store, for there personal info, and collect the items back. What really works 90 percent of the time is if you mention their shoplifting activities and that you don't plan on calling the police if they are willing to cooperate. They will then usually work with you."
Read how other retailers are preventing shoplifting and enforcing loss prevention policies.
If your store hasn't put it's shoplifting stance on paper yet, take the following questions into consideration before writing your shoplifting policies.
As the new year approaches, we're receiving several invitations to trade shows. There are dealer shows, industry shows and an array of upcoming expos. Like most retailers, we're excited to have an opportunity to shop for our store, preview new merchandise and network with others in our industry.
Attending a trade show can be an invaluable experience. However, if you aren't prepared, you may not take away from the event as much as you could. To get the most from attending a trade show, you should have a strategy. Learn how to maximize your time with these trade show tips.
Last week we seemed to have more customer returns than usual. It wasn't just one classification of merchandise coming back and in most cases the refund requests had nothing to do with the quality of the products. It was just a lot of people returning items. So many it made me think of December 26th.
Returns don't just happen the day after Christmas and retailers need to be prepared to convert returns into sales anytime of the year. Learn how to turn those inconvenient returns into exchanges and avoid refunds by implementing these simple customer service skills.
Related: Recognizing Return Fraud
Too often, retailers make costly mistakes when selling their shops. All their hard work can disappear with a bad sale. Debbie Allen has built and sold six businesses including a car rental company, two mini-storage facilities and three retail stores. Now as an international professional speaker and business consultant, she helps other small business owners achieve this same success. Here are her five tips to help you avoid business sale pitfalls, disappointment and lost money.
Wouldn't it be nice if we had time to speak directly to each of our customers? Imagine how delighted they would be if the store owner had a few minutes to listen to their thoughts, concerns or advice?
Unless your retail shop is very small, and you are the only employee, it's not always possible to make contact with each and every shopper. However, there are other ways to find out what's on the mind of our customers. Learn more about developing a feedback system with customer comment cards.
Business Plans: The Executive Summary
While the Executive Summary may appear at the beginning of the business plan, it is recommended to write this section last. Learn why this is and what makes the Executive Summary such an important part of your business plan.
Other Parts of a Business Plan: