Retail is an important (and indispensable) part of the economy. Modern relations between sellers and customers are impossible without retail. Thus, we’re going to focus on this type of trading and discuss the question “What is retail business?”. By its definition, retail is a type of trade, during which a business sells its services or […]
Continue ReadingTwo years of rapid change, disruption, and acceleration have brought the retail industry to a new level. new era.Independent retailers face changing health regulations and supply chain woes. They also have to deal with a constantly evolving workforce. What are the next steps for business owners? Small Biz Sense was always keen to better understand […]
Continue ReadingWhen you run a store, it’s critical to keep a finger on the pulse of your business. Paying attention to metrics like inventory value can reveal a lot about the state of your company’s finances and its operational efficiency. Though knowledge is the best power, managing and counting inventory can take a lot of time. […]
Continue ReadingManagement of retail stores is not easy. And when there are multiple locations, it can become even more difficult. Businesses that want to expand and scale need solid procedures to ensure smooth operations. In this article, we’re going to explore some tips to help you manage multiple retail store locations. You’ll hear retailers and experts […]
Continue ReadingAs the holiday season and post-holiday sales wrap up, it’s time to look back at the past year, as well as cast our eyes forward to the retail trends that will define 2022. As you close the year and start strategizing for 2022, consider baking next year’s trends into your upcoming plans. In this article, […]
Continue ReadingRetail businesses need to have a pricing strategy. Pricing a product is part marketing, part psychology and part guesswork. This can make it one of the most difficult parts of managing a retail business. retail store. “Very few merchandising decisions have as sweeping an impact on business performance as how to price items in the […]
Continue ReadingThere’s no getting around it: 2020 was a rough year for in-store traffic. The April 2020 price drop was a staggering 96.4%Foot traffic is increasing for US retailers. Traffic is beginning to rebound, and Black Friday is almost here. Traffic is half the amountIt will be 2021. Most retailers share the goal of driving more […]
Continue ReadingSuccess in businessWithout a plan, it is difficult to succeed. In the case of retail storesThis means that you must put in effort and time to develop your retail business plan. Now, you might be thinking: ‘why do I need a business plan, if I’ve got it all mapped out in my head?’ Business plans […]
Continue ReadingRetail has had a remarkable year. Black Friday is barely behind you and now it’s time to turn your attention to that last-minute dash for holiday gift sales—the increasingly important, Super Saturday. It’s a highly competitive time of year, and no doubt many retailers will be eyeing an extra sales kick to ease some of […]
Continue ReadingImagine you’re your customer for a moment. What is the first thing you notice when you walk into a store? What makes you want to browse through the products every time you pass a display, aisle, shelf rack or shelf? What makes you only stay a few seconds at the entranceway before moving on? These […]
Continue Reading