Spotlight on Business Archives - Page 9 of 13

Think SMART to Maximize Marketing

Posted by Wanda Lenoir
On January 20, 2023
Cutting Edge Products Magazine, marketing plan, Spotlight on Business, Wanda Lenoir

Increasing sales requires making marketing a high priority on your to-do list. Home Improvement retailers who take a SMART approach to marketing understand the important role it plays in maximizing profits. Developing a structured marketing plan, rather than holding a series of random promotions

8 Ideas to Prepare your Business for the New Year

Posted by Wanda Lenoir
On January 19, 2023
2023 Goals, Cutting Edge Products Magazine, Spotlight on Business, Wanda Lenoir

Successful home improvement retailers are forward-thinking and create a game plan for their team to follow. Since the new year is less than a week away, start with the basics. Create a checklist that identifies tasks that need to be accomplished to grow the business, motivate your team, and keep customers shopping at your store.

Consumers Want the Option to Buy Now and Pay Later

Posted by Wanda Lenoir
On December 15, 2022
Cutting Edge Products Magazine, Matter Most to Customers, Spotlight on Business, Wanda Lenoir

Consumers prefer to have multiple options when deciding how they want to pay for purchases. At the height of the pandemic, online shopping became the thing to do because people had little or no access to physical stores. Similar to other conveniences designed to make buying online more effortless, the option to Buy Now Pay Later (BNPL) grew in popularity.

3 Things that Matter Most to Customers

Posted by Contributor
On November 30, 2022
Cutting Edge Products Magazine, Matter Most to Customers, Spotlight on Business, Wanda Lenoir

Independent retailers wear many different hats to maintain day-to-day operations and deal with factors dependent on the economy's health. The local hardware store or home center is a unique business niche that caters to a specific segment of customers. Many of these family-owned businesses have been in the exact location for generations. They continue to exist when others have failed because they understand what customers want and expect of them. • Sell quality products and services at a fair price that solves a problem or improves my home. • Hire great employees who share information and knowledge to help me complete projects with confidence • Make shopping enjoyable and convenient—get me out the door quickly.

Costs Up and Sales Down? Take Steps to Increase Profit Margins

Posted by Contributor
On November 2, 2022
Cutting Edge Products Magazine, Motivate Employees, Spotlight on Business, Wanda Lenoir

Some retail operations face an uphill battle to generate sales this holiday season. Yet, there may be better options than taking drastic measures to increase profit margins. When confronted with spiraling costs due to high inflation, retailers may opt to lay off loyal employees or give the store away by offering shoppers exorbitant discounts. There are ways to deal with rising costs and declining sales that can improve operations and provide long-term benefits.

6 Ways to Motivate Employees Beyond Pay and Benefits

Posted by Wanda Lenoir
On October 19, 2022
Cutting Edge Products Magazine, Motivate Employees, Spotlight on Business, Wanda Lenoir

Home improvement retailers know the people they employ are critical to the success of their business. However, it can be an ongoing challenge to hire and retain employees who share your vision, are consistently productive, and display a positive attitude. Yet, it's possible. Some hardware stores experience little turnover and have maintained a top-notch staff for years

Positive Ways Leaders Can Help Employees Manage and Accept Change

Posted by Wanda Lenoir
On October 6, 2022
Cutting Edge Products Magazine, Holiday Planning, Spotlight on Business, Wanda Lenoir

When will things get back to normal? The reality is life will never be the same as it was ten years ago, two years ago or even yesterday. While change typically happens at a slower pace than it has during the pandemic—it is a constant occurrence that requires us to adjust our behavior and think differently.

Get Started! 4 Tips to Plan Holiday Promotions that Work

Posted by Wanda Lenoir
On September 20, 2022
Cutting Edge Products Magazine, Holiday Planning, Spotlight on Business, Wanda Lenoir

So, are you getting your store ready for the holidays? It may seem a bit early, but September is the best month to start planning the promotions your business will need to bring in holiday shoppers. The retail environment is unpredictable for major big box retailers regarding excess inventory and supply chain issues.

Transform the Future of your business with Better Technology

Posted by Wanda Lenoir
On September 19, 2022
Cutting Edge Products Magazine, Spotlight on Business

Owners often believe that incorporating new technical solutions into their organizations comes with a hefty price tag that outweighs any potential benefits. In reality, failing to upgrade limits the company’s potential growth and gives competitors a distinct advantage that increases over time. Start by focusing on technological advancements

Understanding What Motivates Female Shoppers to Buy

Posted by Wanda Lenoir
On September 19, 2022
Cutting Edge Products Magazine, Spotlight on Business

Female shoppers have tremendous buying power and often influence the purchasing decisions of other family members. Independent retailers who analyze this group’s shopping and spending behavior will understand their motivation and can develop an effective strategy that targets these shoppers.

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