Articles Index
Creating Coupon Promotions
Coupon redemption may have decreased but retailers should not abandon this form of promotional tool. Learn why and how to use coupons as an inexpensive form of marketing, create effective coupon promotions and measure your coupon's response.
Cash Registers vs. Point of Sale (POS) Systems
Should you choose a cash register or a Point of Sale system for your retail business? The one item in a retail store a business owner can’t do without is the cash register. Whether it's the traditional, electronic cash management system or an elaborate computerized point of sale (POS) system, every store needs a machine to process sales. Here's where to buy a cash register, the benefits of a POS system and understanding your cash management needs.
Blogging for Retail Stores
Like any other aspect of retail store operations, blogging should be carefully planned and executed to create value for the reader. Done incorrectly, a business blog may not be the best return on investment and could actually harm the retailer's reputation. However, once retailers learn how to blog properly, they're finding a blog can increase sales and build customer relationships.
How to Buy Wholesale Merchandise
Looking for wholesale merchandise? Don't know where to get the products to sell in your store? Once you know what products or product lines you would like to sell, it's time to buy wholesale merchandise. Here's where to find wholesale merchandise to resell.
Scheduling Employees
One of the most important tasks of the retail manager is scheduling employees. Creating the work schedule requires meeting the needs of the store, while satisfying the needs of the workers. Learn factors which influence the weekly work schedule.
A Day in the Life of an Independent Retailer
Independent retailers generally work either alone or with a very small staff. This means the owner is usually the store manager, sales clerk, buyer, accountant security, receiving clerk and even the janitor. So how does one do it all? Time management and creating a workable schedule is the only way to get it all done. Here we look at a day in the life of an independent retailer.
Is Retail Ownership Right For You?
Do you have what it takes to own your own retail store? Anyone considering starting a business will probably answer 'yes' to that question. Choosing to become an entrepreneur is just like making any career decision. Before starting your business, take a moment to seriously consider your strengths, weaknesses and the qualities any good retailer should possess.
Surviving the Retail Rush
Although your store’s peak period may be called something specific, any retail rush is the period of time when retailers are struck with a higher than average number of customers and sales. For some retailers, it can be quite stressful. For the unprepared, it can be down right disastrous. Before you experience your next retail rush, use the following tips to maximize composure and minimize headaches.
Trade Show Attendance Tips
No matter how small your retail business may be, the benefits of attending a trade show sponsored by vendors or industry associations far outweigh any reason not to attend. To get the most from attending a trade show, you should have a strategy. Knowing what you would like to accomplish before, during, and after the trade show will help maximize your time. Here are some trade show planning tips.
Retail Calendar of Events
Retail industry event calendar features retail trade shows, conferences, seminars for retailers and other retailing events. View the upcoming events for retailers and retail professionals.
Retail Business Licenses and Permits
Knowing what business licenses and permits your retail business needs can be very confusing when planning a new business. Each item requires time, energy and paperwork to obtain the proper business registrations. Here are some of the more common retail business licenses and permits to keep your business operating legally and where to find them.
How to Properly Receive Merchandise
The individual tasks of freight processing vary from one retailer to another. The size of the delivery, the type of products, location for receiving and method of tagging each play a vital part in merchandise handling. However, the overall concept of receiving merchandise is very similar across most retail stores.
Choosing a Retail Store Location
Where you choose to locate your retail business will have a major impact on everything your shop does. The difference between selecting the wrong location and the right site could be the difference between business failure and success. Here are tips for selecting a retail site.
Types of Retail Locations
Retail locations are available in many different forms. Stop and think about the stores in your town. Like most communities, there are probably older shopping areas, new bustling retail locations and some tucked away shops. Retailers have many store location options to consider when choosing a place for their business. Here are a few of the more common types of retail locations.
Dealing With the Disgruntled
In retail, it's inevitable that there will be the occasional disgruntled customer. No matter how wonderful your products are or how committed you are to provide the best customer service, problems do occur. Armed with the following customer service tips, you can diffuse a situation and possibly even save the customer, as well as the sale.
Power Retailing: Not Just for Large Firms
Business Week first popularized the term power retailing in citing the competitive advantages of certain large chains. There are three key principles that every retailer, regardless of size or line of business, could learn from the concept of power retailing.
Competing With Big Box Stores
Retail business owners often worry when a large chain store comes to town. Similarly, many people contemplating starting a small business are reluctant to compete with the large retailers. Here are some tips to better position your retail business for competing with the big box stores.
What's Your Competitive Edge?
It's important for new businesses to complete a competitive analysis during the business planning stage, but competitive intelligence can also be useful for marketing, pricing, managing and other strategic planning for retailers. Before you can know your competitive edge, you must know your competitor.
Writing a Business Plan
The most important thing you can do for your new or existing business is to write a business plan. Businesses have different reasons to write a business plan but the process of creating a solid business plan will help the business become successful.
How to Build Customer Loyalty
The Pareto Principle says that 80% of your sales come from 20% of your customers. To keep these customers coming back, you need to help them remain loyal to you. Here's how to build customer loyalty and keep customers coming back.
Setting Store Policies
The best time to establish policies and procedures for your retail business is during the planning stages. By anticipating problems before you open your doors, you can strategize how you’ll handle special situations, as well as the normal day to day operations. This helps avoid making mistakes once you’re faced with customers.
Appealing to Repeat (Loyal) Customers
Too many retailers concentrate on how to woo new customers and, thus, they do not pay enough attention to what they can do to gain the loyalty and increased patronage of their repeat customers. Unless you are actively engaged, you can do a better job in this area.
3 Ways to Thrive in a Retail Slowdown
When the economy starts sputtering that's when savvy retailers take action. Every newspaper, news program, news website is full of doom and gloom these days. Stores closings, foreclosures, rising gas prices, job cuts, rising food prices are all the top stories in the media.
Retail Store Evaulations
In order to meet our customers' needs, it is important to conduct regular retail store evaluations. An objective assessment of our stores can help us measure whether or not we are fulfilling our customers' expectations. Learn how and why retailers should conduct a retail store evaluation.
3 Tips for Choosing Customer-Friendly Fixtures
One key way to attract and keep the attention of shoppers is to create an environment that is conducive to shopping – and one key way to do that is to use compelling, interchangeable store fixtures and retail display systems to keep your store fresh, interesting and appealing.