The Customer Is Always Right and Other Retailing Myths
No, the customer isn't always right. Learn how this and other retailing myths may have a negative impact on your retail store.
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Never Too Late to Layway
If you've watched any prime time television this week, you've probably seen at least one K-Mart advertisement sporting their layaway program. Layaways at K-Mart, and other major retailers, have been around for a very long time.
The idea of paying for something in installments (with no interest) before you take it home can appeal to many shoppers who shy away from credit cards.
A few years ago, Wal-Mart announced it was ending its layaway program and many smaller retailers followed suit. If your store stopped layaways too, or if you never had a layaway policy, its not too late to start a program for the holidays.
Just clear some space in your stockroom, create a layaway policy and procedures, and then announce the service to your customers.
Does your store offer layaways? Share the pros and cons you've experienced in the comments below.
Seasonal Retail Work
As traffic in retail stores increases this time of year, the retail worker can find many seasonal jobs available. If you're in need of retail employment during the holidays, Indeed.com has job listings from multiple sources across the nation.
Even if you're not in need of a job, consider browsing these listings to see how other retailers are utilizing their staff.
- Retail Store Management
- Retail Loss Prevention
- Visual Merchandiser
- Retail Buyer
- Planogram Specialist
- Retail Sales Clerk
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From The Glossary: Black Friday
Black Friday and other retail terminology can be found in our retailing glossary. View the alphabetical index of retail trade terms, definitions, acronyms and common misspellings of frequently used retailing terminology.
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Attending Buying Events
As the holiday shopping season gets underway, retailers are already receiving invitations to upcoming trade shows and buying events. There are dealer shows, industry shows and an array of upcoming expos. Most retailers are thrilled to have an opportunity to shop for their stores, preview new merchandise and network with others in their 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 or other buying event, you should have a strategy. Learn how to maximize your time with these trade show tips.
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Ease Cash Flow With Terms
Having an ample supply of inventory on hand during this holiday shopping season is critical to not only our store, but to every retailer who relies on last quarter sales to boost their bottom line. This is why we work all year at creating vendor relationships and set up payment terms, otherwise known as trade credit.
Establishing trade credit can help ease the cash flow for any retailer. When setting up payment terms, keep in mind that it isn't just the total amount owed that's significant but the ability of your retail business to repay the debt on time.
From the Forums: Need a Funky Name
A reader writes:
Hi, I am looking to rename my nail and beauty business and would like something funky without the same tag lines as most beauty salons, example, salon, beauty bar, studio etc. I promote a very relaxing atmosphere with a large comfy couch/lounge for clients.
Can anyone think of something modern and different to the norm.
Do you think you can help name this business? Help us brainstorm a business name in the forum.
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Let Us Review Your Store
Retail managers and store owners can become too close to their stores to see things that need change. We often overlook issues that are part of our everyday activities. Having an experienced outsider to view our stores with a fresh perspective can offer dramatic improvements to processes, procedures, merchandising and atmosphere of our stores.
If you would like experienced retailers to provide feedback on your overall store appearance or layout, visual displays or other aspect of your retail business, now you can submit photos for our Store Review feature.
When you submit your photos, don't forget to let us know what kind of feedback you're looking to receive. We'll post the submissions right here for other retailers to provide comments, suggestions and ideas.
So what are you waiting for? Send us those photos and get a free store review!
The Reviews Are In:
Are You Prepared?
Staffing issues, delayed shipments, missing merchandise and marketing campaigns are something retailers face year round. Add an increase in the number of shoppers to the equation and what do you have? The holiday shopping season!
For some retailers, the holiday shopping season can be quite stressful. For the unprepared, it can be down right disastrous. Before the holiday season is in full swing, use the following tips to maximize composure and minimize headaches.
About Retailing:
More Holiday Tips From About.com Guides:
- Human Resources: Holiday Pay Practices: Do You Know Your Legal Requirements?
- Human Resource: Tips for a Stress-Free Holiday Season
- Management: Safely Managing the Holiday Season
- Small Business Information: The 8 Rules of Business Greeting Card Etiquette
- Small Business: Canada: 10 Ways to Increase eBay Holiday Sales
Retailers Sharing Marketing Ideas
We asked for your creative marketing ideas and here is one of several great marketing ideas sent in by those in the retail industry.
A retailer writes:
Last year we gave some products that just weren't selling to a community organization for their Relay for Life fundraiser. We got to write off the donation and because we also placed each item in a bag with our logo and location, we had customers come in to the store for the first time and thank us for giving to such a worth while cause. It really was a win-win!
Do you have a marketing idea? What ways are you generating new sales in your store? Share your marketing ideas.
Need more suggestions? Take a look at our 50 Marketing Ideas for other creative suggestions.