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.
SPOTLIGHT ON BUSINESS
August 23, 2023
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.
August 21, 2023
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.
August 21, 2023
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.
August 8, 2023
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.
July 10, 2023
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.
June 5, 2023
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.
May 25, 2023
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.
April 28, 2023
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
April 19, 2023
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.