Spotlight on Business Archives - Cutting Edge Products

Safeguard your Business to Reduce Shoplifting and Employee Theft

Posted by Wanda Lenoir
On September 11, 2023
Cutting Edge Products Magazine, Employee Theft, Reduce Shoplifting, Retailing 101, Safeguard your Business to Reduce Shoplifting and Employee Theft, Spotlight on Business, Wanda Lenoir

Organized retail crimes are hot topics of conversation for businesses, politicians, and consumers. The victims of these brazen thefts are typically big box retailers or high-end luxury stores. However, small and medium-sized companies are also experiencing significant losses due to thefts and burglaries.

Great Service is More Valuable to Loyal Customers than Rewards

Posted by Contributor
On August 23, 2023
Cutting Edge Products Magazine, Great Service is More Valuable to Loyal Customers than Rewards, Retailing 101, Spotlight on Business, Wanda Lenoir

The shifting retail landscape is growing the disconnect between companies and consumers. Retailers often think providing customers with an enhanced rewards and points loyalty program creates a stronger bond with the company. But it’s becoming more difficult to earn the trust of shoppers and keep them loyal—especially when retailers fall short on convenience and personalized service.

Suppliers Develop Sustainable Products by Focusing on Innovation

Posted by Wanda Lenoir
On August 21, 2023
Cutting Edge Products Magazine, Spotlight on Business, Suppliers Develop Sustainable Products by Focusing on Innovation, Wanda Lenoir

How suppliers address sustainability often depends on the product categories that drive their core businesses and environmental concerns raised by consumers and the government. Sustainability may be a higher priority for some manufacturers than others. Companies that sell outdoor living products, gardening supplies, and power equipment are highly motivated to offer consumers eco-friendly merchandise.

Customers Who Use Click and Collect Online Make Additional Purchases In-Store

Posted by Wanda Lenoir
On August 21, 2023
Click and Collect Online, Cutting Edge Products Magazine, E-Commerce, Spotlight on Business, Wanda Lenoir

Do you know customers who pick up online orders in-store buy almost 45 percent more merchandise after arriving? That’s an impressive statistic by any measure. One of the best ways to build sales and traffic in physical stores is to offer shoppers the ability to buy online pickup in-store (BOPIS). The expectation was fewer people would use click-and-collect services like BOPIS and curbside pickup after the pandemic since they could now shop without restrictions.

Weathering Slow Sales in the Lazy Days of Summer

Posted by Wanda Lenoir
On August 8, 2023
Cutting Edge Products Magazine, Spotlight on Business, Wanda Lenoir, Weathering Slow Sales in the Lazy Days of Summer

Now that people are spending time relaxing outdoors or enjoying summer vacations sales at most retail stores will slump a little. So, what do you do in the months between the two peak selling seasons—spring and fall? You get creative and come up with ideas for promotions and community events that your staff can implement without breaking the bank. Give people a reason to make add-on purchases when they come in to shop. It’s also smart to promote your business as a destination point by partnering with other businesses to hold events. These activities help build traffic and attract customers.

Prepare a Plan to Limit the Impact of Supply Chain Disruptions

Posted by Wanda Lenoir
On July 10, 2023
Cutting Edge Products Magazine, Spotlight on Business, Supply Chain Disruptions, Wanda Lenoir

Retailers know disruptions within the supply chain come with the territory and are often tied to events beyond one person's control. The best thing store owners can do is prepare to take action to minimize the impact on their customers and day-to-day business operations.

Create a Shopping Experience that Keeps Customers Coming Back for More

Posted by Contributor
On June 5, 2023
Cutting Edge Products Magazine, Shopping Experience, Spotlight on Business, Wanda Lenoir

When it comes to customer service, shoppers think independent retailers are the champions of the home improvement industry. Most people can share a story about making a quick trip to the hardware store to take care of an emergency home repair. Or maybe they dropped by to get encouragement to finish a DIY project that somehow went wrong.

Thrifty Shoppers Shift to Low-cost Home Repairs and Buying Used to Save Money

Posted by Wanda Lenoir
On May 25, 2023
Cutting Edge Products Magazine, Spotlight on Business, Thrifty Shoppers, Wanda Lenoir

Keeping an eye on trends and economic indicators can help store owners determine what’s on the minds of consumers. It enables organizations to prioritize buying and selling the best products for specific markets. Retailers can also focus on critical aspects of the business that increase foot traffic and drive profitability.

Win at Retail by Flexing the Strength of Being Independent

Posted by Wanda Lenoir
On April 28, 2023
Cutting Edge Products Magazine, Independent Hardware Store, Spotlight on Business, Wanda Lenoir, Win at Retail

Customers shop the establishments operated by independent retailers for various good reasons. However, selling merchandise at discount prices may not rank high on their list. Shoppers typically find bargains or special offers on select products during limited-time sale events. Just as Walmart has built its reputation on reducing costs, independents understand that competing with the big boxes

6 Ways to Improve Profits and Combat Inflation

Posted by Wanda Lenoir
On April 19, 2023
6 Ways to Improve Profits, Cutting Edge Products Magazine, Improve Profits and Combat Inflation, Spotlight on Business, Wanda Lenoir

Although inflation is gradually dropping, interest rates are rising. So, consumers are being squeezed on both ends. The same is true for store owners. It will take dedicated actions to reduce inflation pressure on retail sales. It's critical to get the wheels moving now rather than later.

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